Old North State Trust LLC Grows Position in Verizon Communications Inc. $VZ

Old North State Trust LLC raised its stake in Verizon Communications Inc. (NYSE:VZ) by 82.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,192 shares of the cell phone carrier’s stock after acquiring an additional 20,939 shares during the quarter. Verizon Communications makes up 1.2% of Old North State Trust LLC’s portfolio, making the stock its 16th biggest holding. Old North State Trust LLC’s holdings in Verizon Communications were worth $2,030,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in VZ. Centaurus Financial Inc. increased its position in Verizon Communications by 15.4% during the 3rd quarter. Centaurus Financial Inc. now owns 35,046 shares of the cell phone carrier’s stock worth $1,540,000 after purchasing an additional 4,667 shares in the last quarter. Asset Dedication LLC lifted its holdings in Verizon Communications by 9.6% in the 3rd quarter. Asset Dedication LLC now owns 40,760 shares of the cell phone carrier’s stock valued at $1,791,000 after purchasing an additional 3,564 shares in the last quarter. Caerus Investment Advisors LLC acquired a new stake in shares of Verizon Communications during the 3rd quarter worth about $442,000. First Commonwealth Financial Corp PA boosted its stake in shares of Verizon Communications by 5.9% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 26,732 shares of the cell phone carrier’s stock worth $1,175,000 after purchasing an additional 1,499 shares during the last quarter. Finally, Center For Asset Management LLC grew its holdings in shares of Verizon Communications by 6.9% during the third quarter. Center For Asset Management LLC now owns 28,959 shares of the cell phone carrier’s stock worth $1,273,000 after buying an additional 1,871 shares in the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on VZ shares. William Blair raised shares of Verizon Communications to an “outperform” rating in a research report on Monday, February 2nd. Oppenheimer lifted their target price on shares of Verizon Communications from $50.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 11th. Evercore boosted their price target on Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Williams Trading set a $54.00 price target on Verizon Communications in a research note on Monday, February 2nd. Finally, Barclays started coverage on Verizon Communications in a report on Thursday, January 22nd. They set an “equal weight” rating and a $43.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.03.

Insider Buying and Selling

In related news, EVP Joseph J. Russo sold 9,579 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $44.88, for a total value of $429,905.52. Following the transaction, 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 filing with the SEC, which can be accessed through the SEC website. Also, SVP Mary-Lee Stillwell sold 8,569 shares of Verizon Communications stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $50.00, for a total value of $428,450.00. Following the completion of the transaction, the senior vice president owned 43,782 shares in the company, valued at $2,189,100. The trade was a 16.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 218,148 shares of company stock valued at $10,780,356. 0.10% of the stock is currently owned by company insiders.

Verizon Communications Price Performance

VZ opened at $50.52 on Wednesday. The company’s 50 day simple moving average is $45.83 and its 200 day simple moving average is $42.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.87 and a current ratio of 0.91. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.67. The stock has a market capitalization of $213.07 billion, a PE ratio of 12.47, a P/E/G ratio of 2.13 and a beta of 0.31.

Verizon Communications (NYSE:VZ) last issued 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. The firm had revenue of $36.38 billion during the quarter, compared to analyst estimates of $36.20 billion. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. Verizon Communications’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.10 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. As a group, sell-side analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be issued a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Friday, April 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.69. Verizon Communications’s payout ratio is currently 68.15%.

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.