Verizon Communications Inc. $VZ Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 75.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,540 shares of the cell phone carrier’s stock after selling 23,047 shares during the period. Icon Wealth Advisors LLC’s holdings in Verizon Communications were worth $307,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Verizon Communications by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier’s stock valued at $15,453,058,000 after purchasing an additional 5,497,598 shares during the period. State Street Corp increased its holdings in shares of Verizon Communications by 3.5% in the fourth quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock valued at $9,080,810,000 after purchasing an additional 7,461,335 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Verizon Communications by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier’s stock valued at $4,747,930,000 after purchasing an additional 5,851,715 shares during the period. Geode Capital Management LLC increased its holdings in shares of Verizon Communications by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 102,632,509 shares of the cell phone carrier’s stock valued at $4,168,080,000 after purchasing an additional 867,694 shares during the period. Finally, Norges Bank acquired a new position in shares of Verizon Communications in the fourth quarter valued at approximately $2,357,158,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Verizon Communications from $44.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Barclays upped their price objective on Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 31st. Dbs Bank lowered Verizon Communications from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Erste Group Bank reaffirmed a “hold” rating on shares of Verizon Communications in a report on Tuesday, May 5th. Finally, Citigroup upped their price objective on Verizon Communications from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Verizon Communications Trading Down 2.1%

Shares of VZ stock opened at $47.11 on Tuesday. The business’s fifty day moving average price is $47.15 and its 200 day moving average price is $45.55. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.64 and a quick ratio of 0.61. The firm has a market capitalization of $196.73 billion, a PE ratio of 11.49, a P/E/G ratio of 1.17 and a beta of 0.24. Verizon Communications Inc. has a 1-year low of $38.39 and a 1-year high of $51.68.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. The company had revenue of $34.44 billion for the quarter, compared to the consensus estimate of $34.82 billion. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.Verizon Communications’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. As a group, sell-side analysts forecast that Verizon Communications Inc. will post 4.97 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be given a $0.7075 dividend. This represents a $2.83 annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Friday, July 10th. Verizon Communications’s dividend payout ratio is currently 69.02%.

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.