Bank of Nova Scotia Sells 438,799 Shares of Verizon Communications Inc. $VZ

Bank of Nova Scotia cut its position in shares of Verizon Communications Inc. (NYSE:VZ) by 14.3% during the 1st quarter, Holdings Channel reports. The firm owned 2,621,767 shares of the cell phone carrier’s stock after selling 438,799 shares during the quarter. Bank of Nova Scotia’s holdings in Verizon Communications were worth $131,613,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Lam Group Inc. bought a new position in shares of Verizon Communications during the 1st quarter worth approximately $28,000. Strengthening Families & Communities LLC grew its holdings in shares of Verizon Communications by 490.0% in the fourth 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 in the last quarter. EQ Wealth Advisors LLC bought a new position in shares of Verizon Communications in the fourth quarter valued at approximately $29,000. Sarver Vrooman Wealth Advisors increased its position in shares of Verizon Communications by 173.0% during the fourth 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 last quarter. Finally, Quattro Advisors LLC purchased a new stake in shares of Verizon Communications during the fourth quarter valued at approximately $30,000. 62.06% of the stock is owned by institutional investors.

Verizon Communications News Summary

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

• Positive Sentiment: Verizon is highlighting new consumer products, including the Gizmo Watch 4 for families focused on child safety, which could support device sales and customer engagement. Verizon (VZ) Launches Gizmo Watch 4 For Families Focused On Child Safety
• Positive Sentiment: Verizon is also promoting major Samsung Galaxy Z Fold and wearable preorder deals, signaling continued carrier partnerships and potential upgrade-driven demand. Samsung’s next-generation Z Fold meets simplicity & value on Verizon
• Neutral Sentiment: Multiple previews note that Verizon will report Q2 results before the bell on Friday, keeping the stock in focus as investors look for updates on wireless growth, margins, and guidance. Verizon (VZ) To Report Earnings Tomorrow: Here Is What To Expect
• Neutral Sentiment: Coverage ahead of earnings says Verizon is in a broad reset, selling 274 company-owned stores, cutting jobs, and leaning more on franchises to improve efficiency. Verizon Communications (VZ) Sells Stores And Cuts Jobs, Is The Stock Still A Bargain?
• Negative Sentiment: Analysts are watching whether Verizon’s restructuring and cost cuts are enough to offset growth concerns, including competitive pressure from rivals and fears around new Starlink-related offerings in the market. Verizon Earnings Will Put Cost Cuts and SpaceX Fears Under the Microscope
• Negative Sentiment: Peer news from T-Mobile and AT&T underscores a tougher wireless backdrop, with intensified competition and execution risks across the sector that could weigh on Verizon’s outlook. T-Mobile Falls Despite Earnings Beat. CEO Shoots Down Expanded Starlink Deal.

Wall Street Analyst Weigh In

A number of analysts recently commented on VZ shares. Erste Group Bank reiterated a “hold” rating on shares of Verizon Communications in a report on Tuesday, May 5th. BNP Paribas Exane reduced their price objective on Verizon Communications from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, July 14th. Scotiabank decreased their target price on Verizon Communications from $54.50 to $51.50 and set a “sector outperform” rating for the company in a research report on Wednesday, July 15th. Barclays lowered their target price on Verizon Communications from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. Finally, Freedom Capital raised shares of Verizon Communications to a “hold” rating in a report on Friday, June 12th. Nine equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $50.03.

Verizon Communications Trading Down 0.9%

NYSE:VZ opened at $43.91 on Friday. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68. 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 firm’s 50 day moving average is $45.39 and its 200 day moving average is $46.20. The stock has a market capitalization of $183.36 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 1.08 and a beta of 0.26.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.07. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The business had revenue of $34.44 billion during the quarter, compared to analyst estimates of $34.82 billion. During the same period in the prior year, the company earned $1.19 earnings per share. Verizon Communications’s revenue was up 2.7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Sell-side analysts expect that Verizon Communications Inc. will post 4.98 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 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 6.4%. The ex-dividend date of this dividend is Friday, July 10th. Verizon Communications’s dividend payout ratio is currently 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.