12,551 Shares in Verizon Communications Inc. $VZ Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new stake in Verizon Communications Inc. (NYSE:VZ) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,551 shares of the cell phone carrier’s stock, valued at approximately $531,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. USS Investment Management Ltd boosted its holdings in 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 worth $35,790,000 after purchasing an additional 31,354 shares during the period. Cornerstone Capital Inc. raised its holdings in shares of Verizon Communications by 8.6% during the second 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 period. Cibc World Market Inc. raised its holdings in shares of Verizon Communications by 15.3% during the fourth quarter. Cibc World Market Inc. now owns 2,382,975 shares of the cell phone carrier’s stock worth $97,059,000 after purchasing an additional 316,854 shares during the period. University of Texas Texas AM Investment Management Co. lifted its position in shares of 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 worth $7,798,000 after buying an additional 103,046 shares during the last quarter. Finally, Keudell Morrison Wealth Management bought a new position in shares of Verizon Communications in the 4th quarter worth about $2,171,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of the business’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 transaction, the chief executive officer owned 108,766 shares in the company, valued at approximately $5,444,825.96. The trade was a 1.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.03% of the stock is owned by insiders.

Verizon Communications Trading Up 0.0%

Verizon Communications stock opened at $50.11 on Monday. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $51.68. 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 firm has a market capitalization of $208.20 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.40 and a beta of 0.25. The firm has a 50-day moving average price of $45.91 and a two-hundred day moving average price of $47.42.

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

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders 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 yield of 5.6%. Verizon Communications’s payout ratio is presently 73.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Freedom Capital raised shares of Verizon Communications to a “hold” rating in a research report on Friday, June 12th. Royal Bank Of Canada raised their target price on shares of Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a report on Monday, July 27th. Moffett Nathanson lowered their target price on Verizon Communications from $56.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, July 20th. Wells Fargo & Company upped their target price on Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Finally, Morgan Stanley increased their price target on Verizon Communications from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Nine equities research 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, Verizon Communications has a consensus rating of “Hold” and a consensus 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.