Verizon Communications Inc. $VZ Shares Purchased by CreativeOne Wealth LLC

CreativeOne Wealth LLC raised its holdings in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 6.8% in the 3rd quarter, Holdings Channel reports. The firm owned 262,953 shares of the cell phone carrier’s stock after purchasing an additional 16,776 shares during the quarter. CreativeOne Wealth LLC’s holdings in Verizon Communications were worth $11,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of VZ. Vanguard Group Inc. raised its stake in Verizon Communications by 0.3% during the third quarter. Vanguard Group Inc. now owns 373,904,749 shares of the cell phone carrier’s stock worth $16,433,114,000 after acquiring an additional 1,117,733 shares during the period. State Street Corp boosted its stake in Verizon Communications by 2.1% in the second quarter. State Street Corp now owns 208,213,255 shares of the cell phone carrier’s stock valued at $9,009,388,000 after acquiring an additional 4,205,449 shares during the period. Geode Capital Management LLC boosted its stake in Verizon Communications by 1.1% in the second quarter. Geode Capital Management LLC now owns 100,326,792 shares of the cell phone carrier’s stock valued at $4,322,700,000 after acquiring an additional 1,101,504 shares during the period. Norges Bank bought a new position in shares of Verizon Communications during the second quarter valued at approximately $2,504,150,000. Finally, California Public Employees Retirement System grew its holdings in shares of Verizon Communications by 21.5% during the second 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 last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Verizon Communications

In related news, EVP Joseph J. Russo sold 9,579 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $44.88, for a total value of $429,905.52. Following the completion of the transaction, the executive vice president owned 44,045 shares in the company, valued at $1,976,739.60. This represents a 17.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Mary-Lee Stillwell sold 8,569 shares of the firm’s 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 transaction, the senior vice president directly owned 43,782 shares in the company, valued at approximately $2,189,100. The trade was a 16.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 218,148 shares of company stock worth $10,780,356 over the last ninety days. 0.10% of the stock is currently owned by corporate insiders.

Verizon Communications Stock Performance

Shares of NYSE VZ opened at $51.17 on Friday. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.41. The company has a market cap of $215.82 billion, a PE ratio of 12.63, a P/E/G ratio of 2.14 and a beta of 0.31. The stock has a 50 day simple moving average of $44.40 and a 200-day simple moving average of $42.60. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32.

Verizon Communications (NYSE:VZGet Free Report) last announced its earnings results on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. Verizon Communications had a return on equity of 19.03% and a net margin of 12.43%.The firm had revenue of $36.38 billion for the quarter, compared to the consensus estimate of $36.20 billion. During the same quarter in the previous year, the business earned $1.10 EPS. The firm’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. On average, equities research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently declared 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. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.5%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, April 10th. Verizon Communications’s dividend payout ratio is 68.15%.

Analysts Set New Price Targets

Several brokerages recently issued reports on VZ. Morgan Stanley raised their price target on Verizon Communications from $47.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, February 2nd. Royal Bank Of Canada upped their price objective on Verizon Communications from $44.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 3rd. KeyCorp reaffirmed a “sector weight” rating on shares of Verizon Communications in a research report on Monday, January 26th. Citigroup raised their target price on Verizon Communications from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings raised shares of Verizon Communications from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.02.

Check Out Our Latest Research Report on VZ

Key Verizon Communications News

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

Verizon Communications Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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