Golden Reserve Retirement LLC Invests $473,000 in Verizon Communications Inc. $VZ

Golden Reserve Retirement LLC purchased a new stake in shares of Verizon Communications Inc. (NYSE:VZ) during the second quarter, Holdings Channel.com reports. The firm purchased 11,175 shares of the cell phone carrier’s stock, valued at approximately $473,000.

Several other hedge funds have also made changes to their positions in VZ. Vanguard Group Inc. raised its stake in Verizon Communications by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier’s stock valued at $15,453,058,000 after purchasing an additional 5,497,598 shares during the period. State Street Corp boosted its position in shares of Verizon Communications by 3.5% in the fourth quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock worth $9,080,810,000 after buying an additional 7,461,335 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Verizon Communications by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier’s stock valued at $4,747,930,000 after buying an additional 5,851,715 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Verizon Communications by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 102,632,509 shares of the cell phone carrier’s stock valued at $4,168,080,000 after buying an additional 867,694 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Verizon Communications by 15.4% during the first quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier’s stock valued at $3,117,471,000 after buying an additional 8,289,877 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Insider Activity

In related news, CEO Kyle Malady sold 1,100 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $48.68, for a total value of $53,548.00. Following the transaction, the chief executive officer directly owned 109,866 shares in the company, valued at approximately $5,348,276.88. This trade represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.03% of the company’s stock.

Verizon Communications Trading Up 0.3%

Shares of NYSE:VZ opened at $49.34 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $205.00 billion, a PE ratio of 12.85, a P/E/G ratio of 1.37 and a beta of 0.25. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. The firm has a fifty day moving average price of $45.52 and a 200 day moving average price of $47.29.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.03. The company had revenue of $34.25 billion during the quarter, compared to the consensus estimate of $35.16 billion. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The firm’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Analysts expect that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Friday, July 10th. Verizon Communications’s payout ratio is presently 73.70%.

Analyst Ratings Changes

Several research firms recently commented on VZ. TD Cowen raised their price target on shares of Verizon Communications from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Scotiabank upped their price objective on shares of Verizon Communications from $51.50 to $52.50 and gave the company a “sector outperform” rating in a research note on Monday, July 27th. BNP Paribas Exane cut their target price on shares of Verizon Communications from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, July 14th. Erste Group Bank restated a “hold” rating on shares of Verizon Communications in a report on Tuesday, May 5th. Finally, Moffett Nathanson dropped their price target on shares of Verizon Communications from $56.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, July 20th. Nine equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, Verizon Communications presently has a consensus rating of “Hold” and an average target price of $50.84.

About Verizon Communications

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.