E. Ohman J or Asset Management AB Sells 12,645 Shares of Verizon Communications Inc. $VZ

E. Ohman J or Asset Management AB lessened its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 6.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 180,336 shares of the cell phone carrier’s stock after selling 12,645 shares during the period. E. Ohman J or Asset Management AB’s holdings in Verizon Communications were worth $9,053,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of VZ. Brighton Jones LLC boosted its holdings in Verizon Communications by 61.2% in the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock worth $1,759,000 after acquiring an additional 16,704 shares in the last quarter. United Bank increased its holdings in shares of Verizon Communications by 11.5% during the second quarter. United Bank now owns 7,843 shares of the cell phone carrier’s stock valued at $339,000 after acquiring an additional 806 shares in the last quarter. Jump Financial LLC increased its holdings in shares of Verizon Communications by 312.0% during the second quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier’s stock valued at $1,023,000 after acquiring an additional 17,901 shares in the last quarter. HUB Investment Partners LLC raised its position in shares of Verizon Communications by 17.2% during the second quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier’s stock worth $1,779,000 after purchasing an additional 6,034 shares during the period. Finally, Vivaldi Capital Management LP raised its position in shares of Verizon Communications by 5.2% during the second quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier’s stock worth $389,000 after purchasing an additional 443 shares during the period. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Performance

Shares of VZ stock opened at $45.44 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.64 and a quick ratio of 0.61. The company has a market cap of $189.72 billion, a P/E ratio of 11.08, a P/E/G ratio of 1.11 and a beta of 0.24. Verizon Communications Inc. has a one year low of $38.39 and a one year high of $51.68. The firm has a 50-day moving average of $46.92 and a 200-day moving average of $45.66.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, topping the consensus estimate of $1.21 by $0.07. The firm had revenue of $34.44 billion for the quarter, compared to analysts’ expectations of $34.82 billion. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.19 EPS. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Equities research analysts forecast that Verizon Communications Inc. will post 4.97 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a $0.7075 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.83 annualized dividend and a yield of 6.2%. Verizon Communications’s payout ratio is currently 69.02%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Verizon Communications in a research report on Friday, May 29th. Raymond James Financial restated an “outperform” rating and set a $56.00 price objective on shares of Verizon Communications in a report on Thursday, March 12th. JPMorgan Chase & Co. raised their price objective on shares of Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Citigroup lifted their price objective on shares of Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, March 20th. Finally, Morgan Stanley lifted their price objective on shares of Verizon Communications from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, Verizon Communications has a consensus rating of “Moderate Buy” and an average price target of $50.59.

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.