Verizon Communications Inc. $VZ Shares Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp boosted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 16.4% in the second quarter, HoldingsChannel.com reports. The fund owned 239,900 shares of the cell phone carrier’s stock after acquiring an additional 33,882 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Verizon Communications were worth $10,157,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in VZ. Brighton Jones LLC lifted its holdings in shares of Verizon Communications by 61.2% during the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock worth $1,759,000 after purchasing an additional 16,704 shares during the period. United Bank boosted its position in Verizon Communications by 11.5% in the second quarter. United Bank now owns 7,843 shares of the cell phone carrier’s stock valued at $339,000 after buying an additional 806 shares during the last quarter. Jump Financial LLC increased its holdings in Verizon Communications by 312.0% in the 2nd quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier’s stock worth $1,023,000 after buying an additional 17,901 shares during the period. HUB Investment Partners LLC increased its holdings in Verizon Communications by 17.2% in the 2nd quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier’s stock worth $1,779,000 after buying an additional 6,034 shares during the period. Finally, Vivaldi Capital Management LP raised its position in Verizon Communications by 5.2% during the 2nd quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier’s stock worth $389,000 after buying an additional 443 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Up 1.4%

Shares of VZ stock opened at $50.11 on Friday. Verizon Communications Inc. has a twelve month low of $38.39 and a twelve month high of $51.68. The stock has a market cap of $208.20 billion, a P/E ratio of 13.05, a P/E/G ratio of 1.38 and a beta of 0.25. The stock has a 50 day moving average of $45.91 and a 200 day moving average of $47.42. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, topping the consensus estimate of $1.27 by $0.03. The business had revenue of $34.25 billion for the quarter, compared to analyst estimates of $35.16 billion. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, sell-side analysts expect that Verizon Communications Inc. will post 5.03 EPS for the current year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a $0.7075 dividend. This represents a $2.83 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Friday, July 10th. Verizon Communications’s payout ratio is currently 73.70%.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 1,100 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $50.06, for a total transaction of $55,066.00. Following the sale, the chief executive officer owned 108,766 shares in the company, valued at approximately $5,444,825.96. This trade represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Moffett Nathanson decreased their price objective on shares of Verizon Communications from $56.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, July 20th. Morgan Stanley increased their price objective on shares of Verizon Communications from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. Scotiabank raised their target price on shares of Verizon Communications from $51.50 to $52.50 and gave the stock a “sector outperform” rating in a report on Monday, July 27th. TD Cowen boosted their target price on shares of Verizon Communications from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, Barclays upped their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Nine analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $50.84.

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.