Verizon Communications Inc. $VZ Shares Sold by JFS Wealth Advisors LLC

JFS Wealth Advisors LLC cut its stake in Verizon Communications Inc. (NYSE:VZ) by 44.4% in the 4th quarter, HoldingsChannel reports. The fund owned 15,097 shares of the cell phone carrier’s stock after selling 12,043 shares during the period. JFS Wealth Advisors LLC’s holdings in Verizon Communications were worth $615,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC increased its position in shares of Verizon Communications by 95.3% during the 3rd quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock valued at $27,000 after purchasing an additional 305 shares during the period. Holos Integrated Wealth LLC acquired a new stake in shares of Verizon Communications in the fourth quarter valued at $28,000. Foster Dykema Cabot & Partners LLC bought a new position in Verizon Communications during the third quarter valued at about $29,000. Global Wealth Strategies & Associates boosted its stake in Verizon Communications by 739.5% during the third quarter. Global Wealth Strategies & Associates now owns 680 shares of the cell phone carrier’s stock valued at $30,000 after buying an additional 599 shares in the last quarter. Finally, Silicon Valley Capital Partners grew its holdings in Verizon Communications by 52.4% during the second quarter. Silicon Valley Capital Partners now owns 782 shares of the cell phone carrier’s stock worth $34,000 after acquiring an additional 269 shares during the period. Institutional investors own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Barclays started coverage on shares of Verizon Communications in a research report on Thursday, January 22nd. They issued an “equal weight” rating and a $43.00 price target on the stock. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $48.00 price objective on shares of Verizon Communications in a research note on Monday, February 2nd. Morgan Stanley boosted their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, February 2nd. Citigroup increased their target price on shares of Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Finally, Wells Fargo & Company raised their target price on shares of Verizon Communications from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $50.32.

Verizon Communications Trading Down 0.8%

Shares of NYSE VZ opened at $50.34 on Friday. 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 Inc. has a 12 month low of $38.39 and a 12 month high of $51.68. The company has a market cap of $212.31 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 2.11 and a beta of 0.31. The business has a fifty day simple moving average of $47.51 and a 200-day simple moving average of $43.27.

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

Verizon Communications Increases Dividend

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

Insider Activity

In related news, EVP Joseph J. Russo sold 9,579 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $44.88, for a total value of $429,905.52. Following the completion of the transaction, the executive vice president owned 44,045 shares of the company’s stock, valued at approximately $1,976,739.60. This trade represents a 17.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mary-Lee Stillwell sold 8,569 shares of Verizon Communications stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $50.00, for a total transaction of $428,450.00. Following the transaction, the senior vice president owned 43,782 shares in the company, valued at approximately $2,189,100. The trade was a 16.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 218,148 shares of company stock worth $10,780,356 over the last 90 days. 0.10% of the stock is owned by company insiders.

Verizon Communications 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.