Kelleher Financial Advisors Sells 14,367 Shares of Verizon Communications Inc. $VZ

Kelleher Financial Advisors lowered its position in Verizon Communications Inc. (NYSE:VZ) by 38.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 23,126 shares of the cell phone carrier’s stock after selling 14,367 shares during the period. Kelleher Financial Advisors’ holdings in Verizon Communications were worth $1,061,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Bank of America Corp DE boosted its position in Verizon Communications by 15.4% during the first quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier’s stock valued at $3,117,471,000 after acquiring an additional 8,289,877 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Verizon Communications by 20.8% during the 1st quarter. Bank of New York Mellon Corp now owns 38,164,982 shares of the cell phone carrier’s stock worth $1,915,882,000 after acquiring an additional 6,580,820 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Verizon Communications during the 3rd quarter worth about $239,584,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Verizon Communications by 14.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,173,226 shares of the cell phone carrier’s stock worth $1,743,274,000 after acquiring an additional 5,075,794 shares in the last quarter. Finally, Jupiter Topco LLC bought a new position in shares of Verizon Communications in the 2nd quarter worth about $184,260,000. 62.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $43.00, for a total value of $47,300.00. Following the completion of the sale, the chief executive officer owned 98,866 shares of the company’s stock, valued at approximately $4,251,238. This trade represents a 1.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 11,000 shares of company stock valued at $516,373 over the last ninety days. Company insiders own 0.03% of the company’s stock.

Verizon Communications News Roundup

Here are the key news stories impacting Verizon Communications this week:

• Positive Sentiment: Verizon and Ericsson are moving toward a nationwide rollout of AI-enabled network automation. Field tests reportedly improved certain downlink and uplink performance measures, offering potential efficiency and service-quality benefits. Verizon and Ericsson partner to transform AI-native Autonomous Networks
• Neutral Sentiment: Verizon announced pricing for offers to purchase up to $500 million of five series of notes. The debt-management move may help reshape its liabilities, but the announcement alone does not establish a material change to its financial outlook. Verizon announces pricing terms of its tender offers for five series of notes
• Neutral Sentiment: Recent Q3 commentary noted that smartphone net additions were much higher than a year earlier, but revenue per account fell 1.9%, pointing to a mixed growth picture. Verizon latest earnings commentary
• Neutral Sentiment: Verizon is expanding its private wireless support for NFL games, including connected officiating and deployments at overseas venues. The initiative showcases its network capabilities, though the article does not quantify its financial impact. Powering the Play: Verizon Elevates the NFL Gameday Experience Worldwide
• Negative Sentiment: SpaceX is pursuing wireless-network plans with Qualcomm and reportedly exploring a Boost Mobile deal. A new entrant could intensify competition for Verizon, although the plans remain developing and no Boost deal has been finalized. SpaceX strikes major Qualcomm deal to take on Verizon and AT&T

Verizon Communications Price Performance

VZ stock opened at $46.20 on Thursday. The stock has a market capitalization of $191.50 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.83 and a beta of 0.28. The company’s 50-day moving average is $46.78 and its 200-day moving average is $46.83. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.63 and a quick ratio of 0.58. Verizon Communications Inc. has a 1 year low of $38.68 and a 1 year high of $51.68.

Verizon Communications (NYSE:VZ) last issued its earnings results on Monday, October 26th. The cell phone carrier reported $1.31 EPS for the quarter, beating the consensus estimate of $1.27 by $0.04. Verizon Communications had a return on equity of 19.75% and a net margin of 11.78%. The company had revenue of $34.31 billion during the quarter, compared to the consensus estimate of $34.77 billion. During the same period last year, the business posted $1.21 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts expect that Verizon Communications Inc. will post 5.08 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 9th were issued a $0.7075 dividend. The ex-dividend date was Friday, October 9th. This represents a $2.83 annualized dividend and a yield of 6.1%. Verizon Communications’s dividend payout ratio is presently 72.19%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Scotiabank dropped their price objective on Verizon Communications from $51.50 to $50.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 9th. Citigroup decreased their target price on Verizon Communications from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. The Goldman Sachs Group lowered their target price on Verizon Communications from $51.00 to $47.00 in a report on Tuesday, October 27th. Royal Bank Of Canada boosted their price target on Verizon Communications from $46.00 to $47.00 and gave the company a “sector perform” rating in a research note on Monday, July 27th. Finally, Morgan Stanley cut their price target on Verizon Communications from $52.00 to $50.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 27th. Thirteen analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat, Verizon Communications has a consensus rating of “Hold” and a consensus price target of $51.05.

Verizon Communications Profile

Verizon Communications Inc is a telecommunications company that provides wireless communications, broadband, and digital connectivity services. Through its consumer business, Verizon offers mobile voice and data plans, smartphones and other connected devices, home internet, fixed wireless access, and fiber-optic broadband services under the Fios brand.

Verizon also serves businesses, government agencies, and other organizations with wireless connectivity, private networks, internet and data services, managed communications, cloud and security solutions, and Internet of Things services.