Pinnacle Holdings LLC Sells 11,303 Shares of Verizon Communications Inc. $VZ

Pinnacle Holdings LLC decreased its position in Verizon Communications Inc. (NYSE:VZ) by 85.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,852 shares of the cell phone carrier’s stock after selling 11,303 shares during the period. Pinnacle Holdings LLC’s holdings in Verizon Communications were worth $78,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. USS Investment Management Ltd grew its position in shares of Verizon Communications by 4.6% in the first quarter. USS Investment Management Ltd now owns 713,156 shares of the cell phone carrier’s stock valued at $35,790,000 after purchasing an additional 31,354 shares during the last quarter. Cornerstone Capital Inc. raised its position in shares of Verizon Communications by 8.6% during the 2nd quarter. Cornerstone Capital Inc. now owns 317,284 shares of the cell phone carrier’s stock worth $13,434,000 after purchasing an additional 25,156 shares during the last quarter. Cibc World Market Inc. lifted its stake in Verizon Communications by 15.3% in the 4th quarter. Cibc World Market Inc. now owns 2,382,975 shares of the cell phone carrier’s stock valued at $97,059,000 after buying an additional 316,854 shares in the last quarter. University of Texas Texas AM Investment Management Co. lifted its stake in Verizon Communications by 127.0% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 184,170 shares of the cell phone carrier’s stock valued at $7,798,000 after buying an additional 103,046 shares in the last quarter. Finally, Keudell Morrison Wealth Management acquired a new stake in Verizon Communications during the 4th quarter valued at $2,171,000. 62.06% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Kyle Malady sold 1,100 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $50.06, for a total transaction of $55,066.00. Following the completion of the sale, the chief executive officer directly owned 108,766 shares in the company, valued at $5,444,825.96. This represents a 1.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.03% of the stock is owned by corporate insiders.

Verizon Communications Price Performance

VZ opened at $50.11 on Friday. The company’s 50 day simple moving average is $45.91 and its 200 day simple moving average is $47.42. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.57 and a current ratio of 0.60. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. The stock has a market capitalization of $208.20 billion, a PE ratio of 13.05, a P/E/G ratio of 1.38 and a beta of 0.25.

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

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a dividend of $0.7075 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.83 annualized dividend and a dividend yield of 5.6%. Verizon Communications’s payout ratio is currently 73.70%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on VZ. Wells Fargo & Company boosted their price target on Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Erste Group Bank reaffirmed a “hold” rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Scotiabank lifted their price objective on Verizon Communications from $51.50 to $52.50 and gave the stock a “sector outperform” rating in a research report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Verizon Communications in a research note on Wednesday. Finally, BNP Paribas Exane reduced their target price on shares of Verizon Communications from $46.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, July 14th. Nine investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $50.84.

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.