Burney Co. Sells 24,175 Shares of Verizon Communications Inc. $VZ

Burney Co. cut its position in Verizon Communications Inc. (NYSE:VZ) by 12.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 165,557 shares of the cell phone carrier’s stock after selling 24,175 shares during the period. Burney Co.’s holdings in Verizon Communications were worth $8,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of VZ. Strengthening Families & Communities LLC increased its stake in Verizon Communications by 490.0% in the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 539 shares in the last quarter. Holos Integrated Wealth LLC bought a new stake in Verizon Communications during the fourth quarter valued at about $28,000. Lam Group Inc. purchased a new position in shares of Verizon Communications in the first quarter valued at about $28,000. EQ Wealth Advisors LLC purchased a new position in shares of Verizon Communications in the fourth quarter valued at about $29,000. Finally, Sarver Vrooman Wealth Advisors boosted its stake in shares of Verizon Communications by 173.0% in the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock worth $29,000 after acquiring an additional 448 shares during the period. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Trading Down 1.1%

Shares of VZ stock opened at $42.09 on Tuesday. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $175.75 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 1.04 and a beta of 0.26. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The stock’s 50-day moving average price is $46.56 and its 200-day moving average price is $45.95.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. The company had revenue of $34.44 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company earned $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Equities research analysts predict that Verizon Communications Inc. will post 4.98 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a dividend of $0.7075 per share. This represents a $2.83 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, July 10th. Verizon Communications’s dividend payout ratio is 69.02%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup lifted their target price on Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Freedom Capital upgraded Verizon Communications to a “hold” rating in a research note on Friday, June 12th. JPMorgan Chase & Co. increased their price objective on shares of Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Raymond James Financial reiterated an “outperform” rating and set a $56.00 price objective on shares of Verizon Communications in a research report on Thursday, March 12th. Finally, Barclays boosted their target price on shares of Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and an average target price of $50.59.

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.