Ascent Group LLC Trims Stock Position in Verizon Communications Inc. $VZ

Ascent Group LLC lessened its stake in Verizon Communications Inc. (NYSE:VZ) by 7.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 149,468 shares of the cell phone carrier’s stock after selling 11,645 shares during the quarter. Ascent Group LLC’s holdings in Verizon Communications were worth $6,088,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. JB Capital LLC grew its holdings in Verizon Communications by 9.6% during the fourth quarter. JB Capital LLC now owns 24,586 shares of the cell phone carrier’s stock worth $1,001,000 after acquiring an additional 2,146 shares during the period. LifePlan Financial LLC lifted its holdings in Verizon Communications by 4.3% in the fourth quarter. LifePlan Financial LLC now owns 32,779 shares of the cell phone carrier’s stock valued at $1,335,000 after acquiring an additional 1,349 shares during the period. J2 Capital Management Inc boosted its position in Verizon Communications by 11.7% in the 4th quarter. J2 Capital Management Inc now owns 18,793 shares of the cell phone carrier’s stock worth $765,000 after purchasing an additional 1,973 shares in the last quarter. Rainier Family Wealth Inc. purchased a new stake in Verizon Communications in the 4th quarter worth approximately $207,000. Finally, Sovran Advisors LLC grew its stake in shares of Verizon Communications by 2.5% during the 4th quarter. Sovran Advisors LLC now owns 19,370 shares of the cell phone carrier’s stock worth $762,000 after purchasing an additional 477 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.1%

VZ stock opened at $49.46 on Friday. 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 firm has a 50-day moving average of $48.55 and a two-hundred day moving average of $43.47. 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 $208.59 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 2.07 and a beta of 0.29.

Verizon Communications (NYSE:VZ) last issued its earnings results on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share (EPS) for the quarter, topping 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 business had revenue of $36.38 billion during the quarter, compared to the consensus estimate of $36.20 billion. During the same period last year, the company earned $1.10 EPS. The company’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. As a group, 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 disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be given a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend 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 is 68.15%.

Insider Activity at Verizon Communications

In other Verizon Communications news, SVP Mary-Lee Stillwell sold 8,569 shares of Verizon Communications stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $50.00, for a total transaction of $428,450.00. Following the completion of the sale, the senior vice president directly owned 43,782 shares in the company, valued at $2,189,100. This trade represents a 16.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph J. Russo sold 9,579 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was 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. The trade was a 17.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 218,148 shares of company stock worth $10,780,356. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

VZ has been the subject of a number of analyst reports. 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 research report on Tuesday, February 3rd. Morgan Stanley lifted their price target on Verizon Communications from $47.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, February 2nd. KeyCorp reaffirmed a “sector weight” rating on shares of Verizon Communications in a report on Monday, January 26th. JPMorgan Chase & Co. increased their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Finally, Raymond James Financial restated an “outperform” rating and issued a $56.00 price objective on shares of Verizon Communications in a research report on Thursday, March 12th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.56.

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.