406,529 Verizon Communications Inc. $VZ Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its position in shares of Verizon Communications Inc. (NYSE:VZ) by 14.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,132,700 shares of the cell phone carrier’s stock after purchasing an additional 406,529 shares during the period. Pictet Asset Management Holding SA’s holdings in Verizon Communications were worth $143,697,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of VZ. Bank of America Corp DE grew its position in Verizon Communications by 15.4% in the 1st quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier’s stock valued at $3,117,471,000 after buying an additional 8,289,877 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Verizon Communications by 20.8% in the first quarter. Bank of New York Mellon Corp now owns 38,164,982 shares of the cell phone carrier’s stock worth $1,915,882,000 after purchasing an additional 6,580,820 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Verizon Communications by 14.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,173,226 shares of the cell phone carrier’s stock worth $1,743,274,000 after purchasing an additional 5,075,794 shares during the period. Dimensional Fund Advisors LP lifted its position in Verizon Communications by 6.4% in the first quarter. Dimensional Fund Advisors LP now owns 32,734,998 shares of the cell phone carrier’s stock worth $1,643,339,000 after purchasing an additional 1,972,634 shares during the period. Finally, Deutsche Bank AG boosted its stake in Verizon Communications by 6.7% during the second quarter. Deutsche Bank AG now owns 20,882,074 shares of the cell phone carrier’s stock valued at $884,147,000 after buying an additional 1,305,471 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Key Headlines Impacting Verizon Communications

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

• Positive Sentiment: Verizon is expanding its NFL partnership with 5G and private wireless technology for stadium operations, official communications and fan connectivity. The initiative could showcase its network and support future business opportunities, though near-term financial benefits were not specified. Can Verizon’s 5G Expansion in the 2026 NFL Season Drive Future Growth?
• Neutral Sentiment: Verizon raised the caps on its tender offers and accepted about $664 million of notes across five series, above the original $500 million aggregate target. Buying back notes may help manage liabilities, but requires cash and is not by itself a major change to the company’s growth outlook. Verizon announces cap increases and expiration and results of its tender offers for five series of notes
• Neutral Sentiment: Verizon launched holiday discounts on devices and customer rewards. Promotions may help attract or retain subscribers, though their effect on customer growth and margins is unclear. Verizon Makes the Holidays Simple with Our Best Deals and Rewards Just for Being a Customer

Verizon Communications Stock Performance

Shares of VZ opened at $45.78 on Monday. Verizon Communications Inc. has a one year low of $38.68 and a one year high of $51.68. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.63 and a quick ratio of 0.58. The company has a market capitalization of $189.74 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.85 and a beta of 0.28. The company’s fifty day moving average price is $46.62 and its 200 day moving average price is $46.90.

Verizon Communications (NYSE:VZ) last released its earnings results on Monday, October 26th. The cell phone carrier reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.04. Verizon Communications had a return on equity of 19.75% and a net margin of 11.78%. The firm had revenue of $34.31 billion for the quarter, compared to analyst estimates of $34.77 billion. During the same quarter last year, the firm posted $1.21 EPS. The company’s revenue was up 1.5% on a year-over-year basis. As a group, analysts expect that Verizon Communications Inc. will post 5.08 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Friday, October 9th were paid a dividend of $0.7075 per share. This represents a $2.83 annualized dividend and a yield of 6.2%. The ex-dividend date was Friday, October 9th. Verizon Communications’s payout ratio is currently 72.19%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on VZ. Royal Bank Of Canada lifted their price target on shares of Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Monday, July 27th. Freedom Broker raised shares of Verizon Communications from a “hold” rating to a “buy” rating and increased their price target for the stock from $53.00 to $55.00 in a research report on Wednesday, October 28th. Wells Fargo & Company lifted their target price on shares of Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. TD Cowen lowered their price target on shares of Verizon Communications from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. Finally, Barclays dropped their target price on Verizon Communications from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 27th. Thirteen equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.05.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 1,100 shares of the firm’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $43.00, for a total value of $47,300.00. Following the completion of the transaction, the chief executive officer directly owned 98,866 shares of the company’s stock, valued at $4,251,238. This trade represents a 1.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,000 shares of company stock valued at $516,373 in the last three months. Corporate insiders own 0.03% of the company’s stock.

Verizon Communications Profile

Verizon Communications Inc is a telecommunications company that provides wireless and wireline communications services in the United States. Its offerings include mobile voice and data plans, smartphones and other connected devices, broadband internet, and related services for consumers, businesses, and government customers.

The company operates a nationwide wireless network and provides home internet through fiber-optic service, including Fios, and fixed wireless access. For business and public-sector customers, Verizon offers connectivity, networking, security, and Internet of Things services.

Verizon was formed in 2000 through the merger of Bell Atlantic and GTE.