Pacer Advisors Inc. Sells 1,423,661 Shares of Verizon Communications Inc. $VZ

Pacer Advisors Inc. cut its position in shares of Verizon Communications Inc. (NYSE:VZ) by 13.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,874,123 shares of the cell phone carrier’s stock after selling 1,423,661 shares during the period. Verizon Communications accounts for 0.7% of Pacer Advisors Inc.’s portfolio, making the stock its 15th largest holding. Pacer Advisors Inc.’s holdings in Verizon Communications were worth $445,481,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of VZ. Robinswood Financial LLC acquired a new position in Verizon Communications during the first quarter worth approximately $27,000. Lam Group Inc. bought a new stake in Verizon Communications in the first quarter valued at approximately $28,000. Strengthening Families & Communities LLC increased its holdings in shares of Verizon Communications by 490.0% during the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock worth $26,000 after acquiring an additional 539 shares during the last quarter. EQ Wealth Advisors LLC acquired a new stake in Verizon Communications during the 4th quarter valued at $29,000. Finally, Sarver Vrooman Wealth Advisors boosted its position in Verizon Communications by 173.0% during the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock worth $29,000 after purchasing an additional 448 shares during the period. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Trading Up 0.2%

Shares of Verizon Communications stock opened at $46.88 on Monday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.57 and a current ratio of 0.60. The firm has a 50-day moving average of $45.32 and a 200-day moving average of $46.49. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $51.68. The stock has a market cap of $195.77 billion, a PE ratio of 12.21, a PEG ratio of 1.30 and a beta of 0.25.

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

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a dividend of $0.7075 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.83 annualized dividend and a dividend yield of 6.0%. Verizon Communications’s dividend payout ratio (DPR) is currently 73.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on VZ shares. TD Cowen upped their price objective on shares of Verizon Communications from $54.00 to $56.00 and gave the company a “buy” rating in a report on Monday, July 27th. Freedom Capital raised shares of Verizon Communications to a “hold” rating in a report on Friday, June 12th. 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 research note on Monday, July 27th. Morgan Stanley increased their price target on shares of Verizon Communications from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Verizon Communications in a research report on Friday, May 29th. 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, the company presently has a consensus rating of “Hold” and an average target price of $50.84.

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.