Verizon Communications Inc. $VZ Shares Sold by Novare Capital Management LLC

Novare Capital Management LLC decreased its position in Verizon Communications Inc. (NYSE:VZ) by 41.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 256,858 shares of the cell phone carrier’s stock after selling 181,722 shares during the period. Novare Capital Management LLC’s holdings in Verizon Communications were worth $12,894,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC lifted its holdings in shares of 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 buying an additional 539 shares during the period. Holos Integrated Wealth LLC acquired a new position in Verizon Communications during the fourth quarter worth $28,000. Foster Dykema Cabot & Partners LLC purchased a new position in Verizon Communications in the third quarter worth $29,000. EQ Wealth Advisors LLC acquired a new stake in Verizon Communications in the fourth quarter valued at $29,000. Finally, Sarver Vrooman Wealth Advisors lifted its stake in shares of Verizon Communications by 173.0% in the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock valued at $29,000 after purchasing an additional 448 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

NYSE:VZ opened at $45.37 on Tuesday. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. The firm has a 50-day moving average price of $46.87 and a two-hundred day moving average price of $45.72. Verizon Communications Inc. has a twelve month low of $38.39 and a twelve month high of $51.68. The company has a market capitalization of $189.45 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 1.11 and a beta of 0.24.

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

Verizon Communications Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VZ. Wells Fargo & Company upped their target price on shares of Verizon Communications from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. lifted their price target on shares of Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Citigroup boosted their price target on Verizon Communications from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Weiss Ratings restated a “buy (b)” rating on shares of Verizon Communications in a report on Friday, May 29th. Finally, Barclays lifted their price objective on Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.59.

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.