Compass Wealth Management LLC Purchases Shares of 63,944 Verizon Communications Inc. $VZ

Compass Wealth Management LLC purchased a new position in shares of Verizon Communications Inc. (NYSE:VZFree Report) in the third quarter, HoldingsChannel.com reports. The firm purchased 63,944 shares of the cell phone carrier’s stock, valued at approximately $2,810,000.

Several other hedge funds have also recently made changes to their positions in VZ. TruNorth Capital Management LLC grew its stake in Verizon Communications by 95.3% during the third quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock worth $27,000 after purchasing an additional 305 shares during the period. Global Wealth Strategies & Associates boosted its holdings in shares of Verizon Communications by 739.5% during the 3rd quarter. Global Wealth Strategies & Associates now owns 680 shares of the cell phone carrier’s stock worth $30,000 after buying an additional 599 shares in the last quarter. Winnow Wealth LLC bought a new position in shares of Verizon Communications during the 2nd quarter worth approximately $34,000. Silicon Valley Capital Partners grew its position in shares of Verizon Communications by 52.4% during the 2nd quarter. Silicon Valley Capital Partners now owns 782 shares of the cell phone carrier’s stock worth $34,000 after buying an additional 269 shares during the period. Finally, Richardson Capital Management LLC bought a new stake in shares of Verizon Communications in the 3rd quarter valued at $35,000. 62.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Verizon Communications

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

Verizon Communications News Roundup

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on VZ shares. Williams Trading set a $54.00 target price on shares of Verizon Communications in a research report on Monday, February 2nd. Wells Fargo & Company upped their price objective on shares of Verizon Communications from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. William Blair raised shares of Verizon Communications to an “outperform” rating in a research report on Monday, February 2nd. Evercore raised their target price on Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Finally, JPMorgan Chase & Co. boosted their target price on Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.02.

Check Out Our Latest Analysis on Verizon Communications

Verizon Communications Price Performance

VZ stock opened at $48.62 on Friday. The company has a market capitalization of $205.07 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 2.01 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. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $50.24. The business has a 50-day simple moving average of $42.26 and a two-hundred day simple moving average of $42.10.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings data on Friday, January 30th. The cell phone carrier reported $1.09 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $36.20 billion. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. Research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently announced 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. This represents a $2.83 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Friday, April 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.69. Verizon Communications’s dividend payout ratio (DPR) is currently 68.15%.

About Verizon Communications

(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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Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZFree Report).

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

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