Verizon Communications (NYSE:VZ) SVP Sells $428,450.00 in Stock

Verizon Communications Inc. (NYSE:VZ) SVP Mary-Lee Stillwell sold 8,569 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $50.00, for a total value of $428,450.00. Following the completion of the sale, the senior vice president owned 43,782 shares of the company’s stock, valued at approximately $2,189,100. This trade represents a 16.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Verizon Communications Stock Up 0.0%

Shares of NYSE VZ opened at $51.22 on Friday. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.41. The firm’s 50-day simple moving average is $44.19 and its 200 day simple moving average is $42.57. 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 company has a market cap of $216.03 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 2.14 and a beta of 0.31.

Verizon Communications (NYSE:VZ) last announced its earnings results on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. The company had revenue of $36.38 billion during the quarter, compared to the consensus estimate of $36.20 billion. During the same period in the previous year, the firm posted $1.10 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. On average, research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be issued a dividend of $0.7075 per share. The ex-dividend date of this dividend is Friday, April 10th. This represents a $2.83 annualized dividend and a yield of 5.5%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.69. Verizon Communications’s dividend payout ratio (DPR) is currently 68.15%.

Institutional Trading of Verizon Communications

Hedge funds have recently modified their holdings of the company. TruNorth Capital Management LLC raised its holdings in Verizon Communications by 95.3% in the third quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock worth $27,000 after purchasing an additional 305 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new stake in Verizon Communications during the 3rd quarter worth $29,000. Strengthening Families & Communities LLC raised its stake 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 worth $26,000 after buying an additional 539 shares during the period. Global Wealth Strategies & Associates lifted its holdings in Verizon Communications by 739.5% during the third quarter. Global Wealth Strategies & Associates now owns 680 shares of the cell phone carrier’s stock worth $30,000 after acquiring an additional 599 shares in the last quarter. Finally, Holos Integrated Wealth LLC acquired a new position in Verizon Communications in the fourth quarter valued at about $28,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VZ has been the subject of a number of recent research reports. Williams Trading set a $54.00 target price on Verizon Communications in a research report on Monday, February 2nd. Scotiabank boosted their price objective on Verizon Communications from $48.00 to $50.25 and gave the stock a “sector perform” rating in a report on Monday, February 2nd. Barclays initiated coverage on shares of Verizon Communications in a research report on Thursday, January 22nd. They set an “equal weight” rating and a $43.00 target price on the stock. William Blair raised shares of Verizon Communications to an “outperform” rating in a research note on Monday, February 2nd. Finally, Evercore increased their price objective on shares of Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, Verizon Communications has a consensus rating of “Moderate Buy” and an average target price of $49.02.

About Verizon Communications

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.