Verizon Communications Inc. $VZ Shares Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 37.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,369 shares of the cell phone carrier’s stock after purchasing an additional 48,982 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Verizon Communications were worth $7,594,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC increased its position in shares of Verizon Communications by 490.0% during the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 539 shares during the period. Robinswood Financial LLC acquired a new stake in shares of Verizon Communications in the first quarter valued at $27,000. Lam Group Inc. acquired a new stake in shares of Verizon Communications in the first quarter valued at $28,000. EQ Wealth Advisors LLC bought a new position in Verizon Communications during the fourth quarter valued at about $29,000. Finally, Sarver Vrooman Wealth Advisors boosted its stake in Verizon Communications by 173.0% during the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock valued at $29,000 after buying an additional 448 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Trading Up 1.4%

Shares of NYSE VZ opened at $50.11 on Friday. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68. The company has a market cap of $208.20 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 1.38 and a beta of 0.25. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36. The business has a fifty day simple moving average of $45.91 and a 200-day simple moving average of $47.42.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. The firm had revenue of $34.25 billion for the quarter, compared to analysts’ expectations of $35.16 billion. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.Verizon Communications’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the business posted $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Sell-side analysts predict that Verizon Communications Inc. will post 5.03 EPS for the current year.

Verizon Communications Announces Dividend

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

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 1,100 shares of the business’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 sale, the chief executive officer owned 108,766 shares in the company, valued at $5,444,825.96. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on VZ shares. Royal Bank Of Canada boosted 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. TD Cowen raised their price objective on shares of Verizon Communications from $54.00 to $56.00 and gave the company a “buy” 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Verizon Communications in a research note on Wednesday. Finally, BNP Paribas Exane dropped their target price on shares of Verizon Communications from $46.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, July 14th. Nine equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, Verizon Communications currently has a consensus rating of “Hold” and a consensus price target of $50.84.

Verizon Communications 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.