Directional Asset Management Purchases New Shares in Verizon Communications Inc. $VZ

Directional Asset Management purchased a new stake in shares of Verizon Communications Inc. (NYSE:VZFree Report) in the fourth quarter, Holdings Channel.com reports. The fund purchased 15,360 shares of the cell phone carrier’s stock, valued at approximately $626,000.

Other institutional investors have also made changes to their positions in the company. TruNorth Capital Management LLC raised its holdings in shares of Verizon Communications by 95.3% in the third quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock valued at $27,000 after buying an additional 305 shares during the last quarter. Foster Dykema Cabot & Partners LLC bought a new position in shares of Verizon Communications in the third quarter valued at about $29,000. Holos Integrated Wealth LLC bought a new position in shares of Verizon Communications in the fourth quarter valued at about $28,000. Richardson Capital Management LLC bought a new position in shares of Verizon Communications in the third quarter valued at about $35,000. Finally, Daytona Street Capital LLC bought a new position in shares of Verizon Communications in the fourth quarter valued at about $33,000. 62.06% of the stock is owned by institutional investors.

Key Verizon Communications News

Here are the key news stories impacting Verizon Communications this week:

Insider Buying and Selling

In related news, EVP Joseph J. Russo sold 9,579 shares of Verizon Communications stock in a transaction dated 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 directly owned 44,045 shares in the company, valued at $1,976,739.60. This trade represents a 17.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hans Erik Vestberg sold 200,000 shares of Verizon Communications stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $49.61, for a total value of $9,922,000.00. Following the completion of the sale, the director owned 145,069 shares of the company’s stock, valued at approximately $7,196,873.09. The trade was a 57.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 218,148 shares of company stock worth $10,780,356 over the last three months. 0.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on VZ. Weiss Ratings raised Verizon Communications from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Erste Group Bank raised Verizon Communications from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. KeyCorp reaffirmed a “sector weight” rating on shares of Verizon Communications in a report on Monday, January 26th. Oppenheimer lifted their price target on Verizon Communications from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. Finally, Barclays lifted their price target on Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, March 31st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and an average target price of $50.56.

Read Our Latest Research Report on Verizon Communications

Verizon Communications Price Performance

Shares of VZ stock opened at $47.23 on Friday. The stock has a 50-day moving average price of $49.11 and a 200 day moving average price of $43.79. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. The firm has a market cap of $197.43 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.18 and a beta of 0.29. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68.

Verizon Communications (NYSE:VZGet Free Report) last announced its quarterly earnings data 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 firm had revenue of $36.38 billion during the quarter, compared to analyst estimates of $36.20 billion. Verizon Communications had a return on equity of 19.03% and a net margin of 12.43%.The company’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the company earned $1.10 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. Research analysts expect that Verizon Communications Inc. will post 4.9 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be given a $0.7075 dividend. The ex-dividend date is Friday, April 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.69. This represents a $2.83 dividend on an annualized basis and a yield of 6.0%. Verizon Communications’s dividend payout ratio is 69.88%.

About Verizon Communications

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZFree Report).

Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.