Metis Global Partners LLC Has $8.98 Million Holdings in Verizon Communications Inc. $VZ

Metis Global Partners LLC decreased its position in Verizon Communications Inc. (NYSE:VZ) by 5.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 204,298 shares of the cell phone carrier’s stock after selling 10,802 shares during the period. Metis Global Partners LLC’s holdings in Verizon Communications were worth $8,979,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Advantage Trust Co grew its position in Verizon Communications by 549.5% during the second quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 500 shares in the last quarter. TruNorth Capital Management LLC raised its holdings in Verizon Communications by 95.3% in the 3rd quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock valued at $27,000 after acquiring an additional 305 shares in the last quarter. Global Wealth Strategies & Associates lifted its position in shares of Verizon Communications by 739.5% during the 3rd quarter. Global Wealth Strategies & Associates now owns 680 shares of the cell phone carrier’s stock valued at $30,000 after acquiring an additional 599 shares during the period. Winnow Wealth LLC acquired a new stake in shares of Verizon Communications during the 2nd quarter worth $34,000. Finally, Silicon Valley Capital Partners increased its position in shares of Verizon Communications by 52.4% in the second quarter. Silicon Valley Capital Partners now owns 782 shares of the cell phone carrier’s stock worth $34,000 after purchasing an additional 269 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VZ shares. Scotiabank increased their price objective on shares of Verizon Communications from $48.00 to $50.25 and gave the stock a “sector perform” rating in a research note on Monday, February 2nd. Citigroup increased their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Williams Trading set a $54.00 price objective on shares of Verizon Communications in a research note on Monday, February 2nd. KeyCorp restated a “sector weight” rating on shares of Verizon Communications in a research note on Monday, January 26th. Finally, Evercore raised their target price on Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $49.02.

Insider Activity

In related news, EVP Joseph J. Russo sold 9,579 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $44.88, for a total value of $429,905.52. Following the completion of the transaction, the executive vice president owned 44,045 shares in the company, valued at $1,976,739.60. This trade represents a 17.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is owned by corporate insiders.

Verizon Communications Stock Up 0.9%

Shares of NYSE:VZ opened at $49.41 on Friday. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $50.24. The company has a market capitalization of $208.33 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 2.07 and a beta of 0.33. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.87 and a current ratio of 0.91. The company has a fifty day moving average of $41.46 and a 200-day moving average of $41.89.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 company posted $1.10 EPS. Verizon Communications’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. On average, equities analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 5.7%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, April 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 68.15%.

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.