Verizon Communications Inc. $VZ is Edgar Lomax Co. VA’s 3rd Largest Position

Edgar Lomax Co. VA reduced its stake in Verizon Communications Inc. (NYSE:VZ) by 22.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,373,821 shares of the cell phone carrier’s stock after selling 402,625 shares during the period. Verizon Communications comprises 4.7% of Edgar Lomax Co. VA’s investment portfolio, making the stock its 3rd largest position. Edgar Lomax Co. VA’s holdings in Verizon Communications were worth $60,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Verizon Communications by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 373,904,749 shares of the cell phone carrier’s stock valued at $16,433,114,000 after buying an additional 1,117,733 shares during the period. State Street Corp boosted its holdings in shares of Verizon Communications by 2.1% during 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 purchasing an additional 4,205,449 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Verizon Communications by 1.1% during the second quarter. Geode Capital Management LLC now owns 100,326,792 shares of the cell phone carrier’s stock worth $4,322,700,000 after purchasing an additional 1,101,504 shares during the period. Norges Bank bought a new stake in shares of Verizon Communications in the second quarter worth about $2,504,150,000. Finally, California Public Employees Retirement System increased its holdings in Verizon Communications by 21.5% during the 2nd quarter. California Public Employees Retirement System now owns 21,159,040 shares of the cell phone carrier’s stock valued at $915,552,000 after purchasing an additional 3,743,892 shares during the period. Institutional investors own 62.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. William Blair upgraded Verizon Communications to an “outperform” rating in a report on Monday, February 2nd. Scotiabank raised their price target on Verizon Communications from $48.00 to $50.25 and gave the stock a “sector perform” rating in a research note on Monday, February 2nd. Wells Fargo & Company lifted their price target 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. Royal Bank Of Canada upped their price objective on shares of Verizon Communications from $44.00 to $48.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 3rd. Finally, Williams Trading set a $54.00 target price on shares of Verizon Communications in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.02.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $51.22 on Friday. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.41. The firm has a market capitalization of $216.03 billion, a P/E ratio of 12.65, a P/E/G ratio of 2.14 and a beta of 0.31. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32. The business has a fifty day simple moving average of $44.19 and a two-hundred day simple moving average of $42.57.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. The company had revenue of $36.38 billion during the quarter, compared to analyst estimates of $36.20 billion. During the same period last year, the business earned $1.10 EPS. Verizon Communications’s quarterly revenue was up 2.0% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. On average, equities analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be issued a dividend of $0.7075 per share. The ex-dividend date is Friday, April 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.69. This represents a $2.83 annualized dividend and a dividend yield of 5.5%. Verizon Communications’s dividend payout ratio (DPR) is 68.15%.

Insider Buying and Selling

In related news, Director Hans Erik Vestberg sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $49.61, for a total transaction of $9,922,000.00. Following the completion of the transaction, the director owned 145,069 shares of the company’s stock, valued at $7,196,873.09. This trade represents a 57.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph J. Russo sold 9,579 shares of Verizon Communications stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $44.88, for a total value of $429,905.52. Following the transaction, the executive vice president owned 44,045 shares of the company’s stock, valued at $1,976,739.60. The trade was a 17.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 218,148 shares of company stock worth $10,780,356 in the last 90 days. Insiders own 0.10% of the company’s stock.

Verizon Communications Company 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.