Cibc World Market Inc. Raises Stock Holdings in Verizon Communications Inc. $VZ

Cibc World Market Inc. raised its stake in Verizon Communications Inc. (NYSE:VZ) by 13.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,383,726 shares of the cell phone carrier’s stock after purchasing an additional 288,820 shares during the period. Cibc World Market Inc. owned 0.06% of Verizon Communications worth $100,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Robinswood Financial LLC bought a new stake in shares of Verizon Communications in the 1st quarter valued at about $27,000. Lam Group Inc. acquired a new stake in Verizon Communications in the first quarter valued at approximately $28,000. Strengthening Families & Communities LLC grew its holdings in Verizon Communications by 490.0% in the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 539 shares during the last quarter. EQ Wealth Advisors LLC purchased a new position in Verizon Communications in the fourth quarter worth $29,000. Finally, Sarver Vrooman Wealth Advisors increased its position in shares of Verizon Communications by 173.0% during the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock worth $29,000 after purchasing an additional 448 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VZ has been the subject of several analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a report on Wednesday. TD Cowen boosted their target price on Verizon Communications from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. BNP Paribas Exane reduced their target price on Verizon Communications from $46.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 14th. Erste Group Bank reiterated a “hold” rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company raised their price target on Verizon Communications from $43.00 to $47.00 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $50.84.

Insiders Place Their Bets

In related news, CEO Kyle Malady sold 1,100 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $50.06, for a total value of $55,066.00. Following the transaction, the chief executive officer owned 108,766 shares in the company, valued at approximately $5,444,825.96. This represents a 1.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.03% of the company’s stock.

Verizon Communications Price Performance

NYSE VZ opened at $50.11 on Friday. The company has a market cap of $208.20 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.38 and a beta of 0.25. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.60 and a quick ratio of 0.57. The stock’s fifty day moving average price is $45.91 and its 200 day moving average price is $47.42. 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 quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.03. The business had revenue of $34.25 billion for 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 quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, equities research analysts forecast that Verizon Communications Inc. will post 5.03 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given a $0.7075 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a yield of 5.6%. Verizon Communications’s dividend payout ratio is currently 73.70%.

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.