Sanders Morris Harris LLC Sells 12,195 Shares of Verizon Communications Inc. $VZ

Sanders Morris Harris LLC decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 60.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 8,075 shares of the cell phone carrier’s stock after selling 12,195 shares during the quarter. Sanders Morris Harris LLC’s holdings in Verizon Communications were worth $342,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Strengthening Families & Communities LLC lifted its position in Verizon Communications by 490.0% during the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 539 shares during the period. Robinswood Financial LLC bought a new stake in shares of Verizon Communications during the first quarter worth approximately $27,000. Lam Group Inc. bought a new stake in shares of Verizon Communications during the first quarter worth approximately $28,000. EQ Wealth Advisors LLC acquired a new position in Verizon Communications in the fourth quarter valued at approximately $29,000. Finally, Sarver Vrooman Wealth Advisors lifted its holdings in Verizon Communications by 173.0% in the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock valued at $29,000 after buying an additional 448 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

More Verizon Communications News

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

• Positive Sentiment: Verizon is waiving calling, texting and data charges for consumer and small-business customers affected by Washington wildfires through August 31 and has deployed a disaster-resilience connectivity vehicle. The effort could reinforce customer loyalty and Verizon’s reputation for network reliability. Verizon Helps Families Stay Connected During Washington Wildfires
• Neutral Sentiment: Verizon and other telecom executives have recently argued that satellite connectivity is unlikely to materially disrupt their core businesses in the near term. Satellite service currently focuses primarily on coverage gaps and emergency connectivity, rather than replacing mainstream cellular networks. SpaceX’s Starlink Threat Sends Telecom Stocks Lower Premarket
• Negative Sentiment: SpaceX plans to expand Starlink Mobile into a full-fledged wireless offering by 2027, using its satellite network and planned terrestrial assets to target consumer and enterprise customers served by Verizon, AT&T and T-Mobile. The prospect of additional competition raises concerns about customer losses, pricing pressure and higher promotional or network-investment costs for Verizon. Verizon Faces A New Threat As SpaceX Plans A Mobile Network
• Negative Sentiment: SpaceX executives indicated that Starlink Mobile could win “quite a few” customers from the major wireless carriers. This amplified investor concerns and contributed to weakness across wireless stocks, despite uncertainty about the scale and timing of the competitive impact. SpaceX says it’s coming for AT&T, Verizon, and T-Mobile customers

Analysts Set New Price Targets

VZ has been the subject of several recent research reports. Freedom Capital upgraded shares of Verizon Communications to a “hold” rating in a research report on Friday, June 12th. Moffett Nathanson reduced their price target on Verizon Communications from $56.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 20th. JPMorgan Chase & Co. lifted their price objective on Verizon Communications from $49.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Erste Group Bank reiterated a “hold” rating on shares of Verizon Communications in a report on Tuesday, May 5th. Finally, Morgan Stanley raised their target price on Verizon Communications from $50.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Nine equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.84.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $46.38 on Thursday. The stock’s fifty day simple moving average is $45.23 and its 200 day simple moving average is $46.64. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $192.69 billion, a PE ratio of 12.08, a PEG ratio of 1.31 and a beta of 0.25. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68.

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

Verizon Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were issued a $0.7075 dividend. This represents a $2.83 annualized dividend and a dividend yield of 6.1%. The ex-dividend date was Friday, July 10th. Verizon Communications’s dividend payout ratio is 73.70%.

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.