Advisors Asset Management Inc. Has $54.97 Million Stock Holdings in Verizon Communications Inc. $VZ

Advisors Asset Management Inc. decreased its position in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,250,633 shares of the cell phone carrier’s stock after selling 30,468 shares during the quarter. Verizon Communications makes up 0.9% of Advisors Asset Management Inc.’s holdings, making the stock its 9th largest holding. Advisors Asset Management Inc.’s holdings in Verizon Communications were worth $54,965,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in VZ. Norges Bank purchased a new position in Verizon Communications during the 2nd quarter valued at about $2,504,150,000. Vanguard Group Inc. increased its holdings in Verizon Communications by 1.3% during the second quarter. Vanguard Group Inc. now owns 372,787,016 shares of the cell phone carrier’s stock valued at $16,130,494,000 after buying an additional 4,615,075 shares during the period. State Street Corp raised its stake in Verizon Communications by 2.1% in the second quarter. State Street Corp now owns 208,213,255 shares of the cell phone carrier’s stock worth $9,009,388,000 after buying an additional 4,205,449 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Verizon Communications by 21.5% during the second quarter. California Public Employees Retirement System now owns 21,159,040 shares of the cell phone carrier’s stock worth $915,552,000 after buying an additional 3,743,892 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Verizon Communications during the 2nd quarter valued at $113,004,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. BNP Paribas Exane lowered Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 price target for the company. in a research report on Tuesday, October 21st. Citigroup boosted their target price on shares of Verizon Communications from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. Sanford C. Bernstein restated a “market perform” rating and issued a $48.00 price target on shares of Verizon Communications in a report on Monday, February 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 3rd. Finally, KeyCorp restated a “sector weight” rating on shares of Verizon Communications in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus target price of $49.02.

Get Our Latest Stock Analysis on VZ

Verizon Communications News Roundup

Here are the key news stories impacting Verizon Communications this week:

Verizon Communications Stock Up 0.7%

Shares of VZ stock opened at $47.37 on Wednesday. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $47.79. The firm has a market capitalization of $199.73 billion, a PE ratio of 11.70, a P/E/G ratio of 1.98 and a beta of 0.33. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.87 and a current ratio of 0.91. The stock’s 50-day simple moving average is $41.13 and its 200-day simple moving average is $41.79.

Verizon Communications (NYSE:VZGet Free Report) last issued its earnings results on Friday, January 30th. The cell phone carrier reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. Verizon Communications had a return on equity of 19.03% and a net margin of 12.43%.The firm had revenue of $36.38 billion for the quarter, compared to analyst estimates of $36.20 billion. During the same quarter in the prior year, the firm earned $1.10 earnings per share. Verizon Communications’s revenue for the quarter was up 2.0% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. Equities analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be paid a $0.7075 dividend. The ex-dividend date is Friday, April 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.69. This represents a $2.83 dividend on an annualized basis and a dividend yield of 6.0%. Verizon Communications’s dividend payout ratio (DPR) is currently 68.15%.

Insider Activity

In related news, EVP Joseph J. Russo sold 9,579 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $44.88, for a total transaction of $429,905.52. Following the completion of the transaction, the executive vice president directly owned 44,045 shares in the company, valued at $1,976,739.60. The trade was a 17.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is currently owned by company insiders.

Verizon Communications Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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