Verizon Communications Inc. $VZ Stake Lifted by Rempart Asset Management Inc.

Rempart Asset Management Inc. lifted its stake in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 3.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 356,060 shares of the cell phone carrier’s stock after purchasing an additional 12,900 shares during the period. Verizon Communications accounts for about 2.7% of Rempart Asset Management Inc.’s holdings, making the stock its 21st biggest holding. Rempart Asset Management Inc.’s holdings in Verizon Communications were worth $14,502,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VZ. Norges Bank bought a new position in Verizon Communications during the 2nd quarter valued at $2,504,150,000. State Street Corp increased its position in shares of Verizon Communications by 3.5% during the 3rd quarter. State Street Corp now owns 215,490,064 shares of the cell phone carrier’s stock valued at $9,470,788,000 after purchasing an additional 7,276,809 shares during the period. Capital World Investors increased its position in shares of Verizon Communications by 51.1% during the 3rd quarter. Capital World Investors now owns 14,512,228 shares of the cell phone carrier’s stock valued at $637,812,000 after purchasing an additional 4,905,101 shares during the period. California Public Employees Retirement System raised its stake in shares of Verizon Communications by 21.5% in the 2nd quarter. California Public Employees Retirement System now owns 21,159,040 shares of the cell phone carrier’s stock worth $915,552,000 after buying an additional 3,743,892 shares in the last quarter. Finally, Danske Bank A S bought a new stake in shares of Verizon Communications in the 3rd quarter worth $161,346,000. Institutional investors own 62.06% of the company’s stock.

Insiders Place Their Bets

In other Verizon Communications news, EVP Joseph J. Russo sold 9,579 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $44.88, for a total transaction of $429,905.52. Following the completion of the sale, the executive vice president directly owned 44,045 shares of the company’s stock, valued at approximately $1,976,739.60. This represents a 17.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hans Erik Vestberg sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $49.61, for a total transaction of $9,922,000.00. Following the completion of the transaction, the director owned 145,069 shares of the company’s stock, valued at approximately $7,196,873.09. The trade was a 57.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 218,148 shares of company stock worth $10,780,356. Company insiders own 0.10% of the company’s stock.

Verizon Communications Stock Performance

VZ opened at $50.36 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. The firm has a market cap of $212.40 billion, a PE ratio of 12.43, a P/E/G ratio of 2.13 and a beta of 0.31. The business has a fifty day simple moving average of $47.05 and a 200-day simple moving average of $43.17. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.68.

Verizon Communications (NYSE:VZGet Free Report) last announced its earnings results on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share (EPS) 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 company had revenue of $36.38 billion for the quarter, compared to analyst estimates of $36.20 billion. During the same period in the previous year, the firm earned $1.10 earnings per share. Verizon Communications’s revenue for the quarter 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. As a group, equities analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders 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 yield of 5.6%. The ex-dividend date is Friday, April 10th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.69. Verizon Communications’s dividend payout ratio is presently 68.15%.

Analyst Ratings Changes

VZ has been the subject of several research reports. Williams Trading set a $54.00 target price on Verizon Communications in a research note on Monday, February 2nd. Wells Fargo & Company boosted their price target on shares of Verizon Communications from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, February 2nd. KeyCorp reissued a “sector weight” rating on shares of Verizon Communications in a report on Monday, January 26th. JPMorgan Chase & Co. raised their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Finally, Morgan Stanley lifted their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.32.

View Our Latest Analysis on VZ

Verizon Communications News Summary

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

Verizon Communications Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZFree Report).

Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.