Edmond DE Rothschild Holding S.A. Has $60.27 Million Holdings in Verizon Communications Inc. $VZ

Edmond DE Rothschild Holding S.A. grew its position in Verizon Communications Inc. (NYSE:VZ) by 19.1% in the second quarter, Holdings Channel reports. The fund owned 1,423,540 shares of the cell phone carrier’s stock after acquiring an additional 228,337 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Verizon Communications were worth $60,273,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of VZ. State Street Corp raised its position in 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 last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Verizon Communications by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier’s stock worth $4,747,930,000 after purchasing an additional 5,851,715 shares during the last quarter. Geode Capital Management LLC increased its stake 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 buying an additional 867,694 shares during the period. Bank of America Corp DE raised its holdings 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 during the last quarter. Finally, Norges Bank acquired a new stake in Verizon Communications during the 4th quarter worth approximately $2,357,158,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Performance

VZ stock opened at $50.18 on Thursday. The firm has a market cap of $208.49 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 1.40 and a beta of 0.25. 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 stock has a 50-day moving average price of $45.73 and a 200-day moving average price of $47.38. Verizon Communications Inc. has a 1-year low of $38.39 and a 1-year high of $51.68.

Verizon Communications (NYSE:VZ) last announced its earnings results on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, beating the consensus estimate of $1.27 by $0.03. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The company had revenue of $34.25 billion for the quarter, compared to analyst estimates of $35.16 billion. During the same quarter in the prior year, the company earned $1.22 EPS. The firm’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, equities research analysts expect that Verizon Communications Inc. will post 5.03 earnings per share for the current year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were issued a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Friday, July 10th. Verizon Communications’s dividend payout ratio is presently 73.70%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VZ. 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 report on Monday, July 27th. Freedom Capital raised shares of Verizon Communications to a “hold” rating in a research note on Friday, June 12th. Erste Group Bank restated a “hold” rating on shares of Verizon Communications in a report on Tuesday, May 5th. JPMorgan Chase & Co. raised their target price on Verizon Communications from $49.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Finally, Scotiabank lifted their target price on Verizon Communications from $51.50 to $52.50 and gave the stock a “sector outperform” rating in a report on Monday, July 27th. Nine analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $50.84.

Insider Activity at Verizon Communications

In other news, CEO Kyle Malady sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $50.06, for a total transaction of $55,066.00. Following the completion of the sale, the chief executive officer owned 108,766 shares of the company’s stock, valued at $5,444,825.96. This trade represents a 1.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.03% of the stock is currently owned by company insiders.

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.