Verizon Communications Inc. (NYSE:VZ) to Issue Quarterly Dividend of $0.71

Verizon Communications Inc. (NYSE:VZ) declared a quarterly dividend on Friday, January 30th. Stockholders of record on Friday, April 10th will be given a dividend of 0.7075 per share by the cell phone carrier on Friday, May 1st. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, April 10th. This is a 2.5% increase from Verizon Communications’s previous quarterly dividend of $0.69.

Verizon Communications has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 20 consecutive years. Verizon Communications has a payout ratio of 58.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Verizon Communications to earn $4.86 per share next year, which means the company should continue to be able to cover its $2.83 annual dividend with an expected future payout ratio of 58.2%.

Verizon Communications Stock Down 1.2%

NYSE VZ opened at $48.57 on Wednesday. Verizon Communications has a 52 week low of $38.39 and a 52 week high of $51.68. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. The business’s fifty day simple moving average is $48.93 and its 200-day simple moving average is $43.54. The firm has a market cap of $204.84 billion, a PE ratio of 11.99, a P/E/G ratio of 2.07 and a beta of 0.29.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Friday, January 30th. The cell phone carrier reported $1.09 EPS for the quarter, topping 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 business had revenue of $36.38 billion for the quarter, compared to analyst estimates of $36.20 billion. During the same quarter in the previous year, the firm earned $1.10 EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. As a group, equities analysts anticipate that Verizon Communications will post 4.69 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Joseph J. Russo sold 9,579 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $44.88, for a total transaction of $429,905.52. Following the completion of the sale, the executive vice president directly owned 44,045 shares of the company’s stock, valued at approximately $1,976,739.60. This trade represents a 17.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hans Erik Vestberg sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $49.61, for a total value of $9,922,000.00. Following the sale, the director directly owned 145,069 shares of the company’s stock, valued at $7,196,873.09. The trade was a 57.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 218,148 shares of company stock valued at $10,780,356. 0.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Verizon Communications

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Verizon Communications by 1.5% in 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 acquiring an additional 5,497,598 shares in the last quarter. State Street Corp grew its position in Verizon Communications by 3.5% in the 4th quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock valued at $9,080,810,000 after acquiring an additional 7,461,335 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Verizon Communications by 5.3% in the 4th 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 acquiring an additional 5,851,715 shares in the last quarter. Geode Capital Management LLC grew its position in Verizon Communications by 0.9% in the 4th 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 acquiring an additional 867,694 shares in the last quarter. Finally, Norges Bank acquired a new position in Verizon Communications in the 4th quarter valued at about $2,357,158,000. 62.06% of the stock is owned by institutional investors and hedge funds.

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.