Verizon Communications Inc. $VZ Shares Sold by Promethos Capital LLC

Promethos Capital LLC reduced its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 36.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 86,010 shares of the cell phone carrier’s stock after selling 48,944 shares during the period. Verizon Communications accounts for approximately 1.0% of Promethos Capital LLC’s investment portfolio, making the stock its 23rd biggest holding. Promethos Capital LLC’s holdings in Verizon Communications were worth $3,642,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Robinswood Financial LLC acquired a new stake in shares of Verizon Communications during the first quarter worth about $27,000. Lam Group Inc. acquired a new position in Verizon Communications in the 1st quarter valued at about $28,000. Strengthening Families & Communities LLC increased its position 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 valued at $26,000 after acquiring an additional 539 shares during the period. EQ Wealth Advisors LLC purchased a new stake in Verizon Communications during the 4th quarter valued at approximately $29,000. Finally, Sarver Vrooman Wealth Advisors raised its stake in Verizon Communications by 173.0% during the 4th 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. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on VZ shares. Royal Bank Of Canada increased their price objective on Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Monday, July 27th. Moffett Nathanson dropped their target price on Verizon Communications from $56.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, July 20th. BNP Paribas Exane cut their price target 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. TD Cowen increased their price target on Verizon Communications from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, Scotiabank lifted 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 report on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $50.84.

Insider Buying and Selling at Verizon Communications

In related 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 transaction, the chief executive officer owned 108,766 shares of the company’s stock, valued at $5,444,825.96. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a legal 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 currently owned by company insiders.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $50.11 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36. The company has a market cap of $208.20 billion, a P/E ratio of 13.05, a PEG ratio of 1.38 and a beta of 0.25. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.68. The company has a 50-day moving average price of $45.91 and a 200 day moving average price of $47.42.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The company had revenue of $34.25 billion for the quarter, compared to analyst estimates of $35.16 billion. During the same quarter in the previous year, the company earned $1.22 EPS. The firm’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. Research analysts predict that Verizon Communications Inc. will post 5.03 earnings per share for the current year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a $0.7075 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.6%. Verizon Communications’s payout ratio is 73.70%.

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.