Viking Fund Management LLC Grows Stock Holdings in Verizon Communications Inc. $VZ

Viking Fund Management LLC boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 21.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 347,000 shares of the cell phone carrier’s stock after buying an additional 61,000 shares during the quarter. Verizon Communications accounts for approximately 1.6% of Viking Fund Management LLC’s portfolio, making the stock its 11th largest holding. Viking Fund Management LLC’s holdings in Verizon Communications were worth $14,133,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in VZ. Vanguard Group Inc. grew its holdings in shares of Verizon Communications by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 373,904,749 shares of the cell phone carrier’s stock worth $16,433,114,000 after acquiring an additional 1,117,733 shares during the period. State Street Corp raised its holdings in Verizon Communications by 3.5% during the third quarter. State Street Corp now owns 215,490,064 shares of the cell phone carrier’s stock worth $9,470,788,000 after purchasing an additional 7,276,809 shares during the last quarter. Norges Bank acquired a new position in Verizon Communications during the second quarter worth $2,504,150,000. Northern Trust Corp boosted its position in Verizon Communications by 1.2% during the third quarter. Northern Trust Corp now owns 45,265,695 shares of the cell phone carrier’s stock worth $1,989,427,000 after purchasing an additional 557,576 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Verizon Communications by 4.5% in the third quarter. Legal & General Group Plc now owns 28,188,066 shares of the cell phone carrier’s stock valued at $1,238,866,000 after purchasing an additional 1,203,445 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Up 0.7%

VZ opened at $50.91 on Wednesday. The firm has a market cap of $214.74 billion, a P/E ratio of 12.57, a PEG ratio of 2.12 and a beta of 0.31. The business’s fifty day simple moving average is $46.84 and its 200 day simple moving average is $43.12. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.68. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 1.32.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Friday, January 30th. The cell phone carrier reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $36.38 billion during the quarter, compared to the consensus estimate of $36.20 billion. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.10 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. As a group, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be paid a $0.7075 dividend. This represents a $2.83 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Friday, April 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.69. Verizon Communications’s dividend payout ratio is presently 68.15%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Weiss Ratings raised Verizon Communications from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. Royal Bank Of Canada increased their price objective on shares of Verizon Communications from $44.00 to $48.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 3rd. Williams Trading set a $54.00 target price on shares of Verizon Communications in a research report on Monday, February 2nd. Wells Fargo & Company upped their price target on shares of Verizon Communications from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. Finally, Evercore increased their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus target price of $50.32.

Insider Buying and Selling at Verizon Communications

In other news, EVP Joseph J. Russo sold 9,579 shares of Verizon Communications stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $44.88, for a total value of $429,905.52. Following the completion of the sale, the executive vice president owned 44,045 shares of the company’s stock, valued at $1,976,739.60. The trade was a 17.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mary-Lee Stillwell sold 8,569 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $50.00, for a total value of $428,450.00. Following the completion of the transaction, the senior vice president owned 43,782 shares of the company’s stock, valued at $2,189,100. The trade was a 16.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 218,148 shares of company stock worth $10,780,356. Insiders own 0.10% of the company’s stock.

Verizon Communications Company Profile

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.