Icon Wealth Advisors LLC Lowers Stock Holdings in Verizon Communications Inc. $VZ

Icon Wealth Advisors LLC trimmed its position in shares of Verizon Communications Inc. (NYSE:VZ) by 75.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,540 shares of the cell phone carrier’s stock after selling 23,047 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Verizon Communications were worth $307,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strengthening Families & Communities LLC boosted its holdings in 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 acquiring an additional 539 shares during the period. Holos Integrated Wealth LLC purchased a new position in Verizon Communications during the 4th quarter valued at about $28,000. Foster Dykema Cabot & Partners LLC purchased a new position in Verizon Communications during the 3rd quarter valued at about $29,000. EQ Wealth Advisors LLC purchased a new position in Verizon Communications during the 4th quarter valued at about $29,000. Finally, Sarver Vrooman Wealth Advisors boosted its holdings in Verizon Communications by 173.0% during the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock valued at $29,000 after acquiring an additional 448 shares during the period. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays raised their target price on Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, March 31st. Wells Fargo & Company lifted their price objective on Verizon Communications from $44.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Citigroup lifted their price objective on Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Raymond James Financial reiterated an “outperform” rating and issued a $56.00 price objective on shares of Verizon Communications in a research note on Thursday, March 12th. Finally, Dbs Bank cut Verizon Communications from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Verizon Communications Price Performance

VZ stock opened at $47.11 on Tuesday. The business has a 50 day moving average price of $47.15 and a 200 day moving average price of $45.55. The stock has a market cap of $196.73 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.17 and a beta of 0.24. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.68. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.38.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.07. The firm had revenue of $34.44 billion during the quarter, compared to analysts’ expectations of $34.82 billion. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Equities research analysts anticipate that Verizon Communications Inc. will post 4.97 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a dividend of $0.7075 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.83 annualized dividend and a yield of 6.0%. Verizon Communications’s payout ratio is 69.02%.

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.