Hennessy Advisors Inc. Sells 199,035 Shares of Verizon Communications Inc. $VZ

Hennessy Advisors Inc. decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 44.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 245,650 shares of the cell phone carrier’s stock after selling 199,035 shares during the period. Hennessy Advisors Inc.’s holdings in Verizon Communications were worth $10,401,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Robinswood Financial LLC purchased a new position in Verizon Communications in the first quarter worth $27,000. Lam Group Inc. purchased a new stake in shares of Verizon Communications during the 1st quarter valued at $28,000. Strengthening Families & Communities LLC lifted its holdings in shares of Verizon Communications by 490.0% during the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 539 shares during the last quarter. Sarver Vrooman Wealth Advisors boosted its position in shares of Verizon Communications by 173.0% in the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock worth $29,000 after purchasing an additional 448 shares in the last quarter. Finally, Quattro Advisors LLC acquired a new stake in shares of Verizon Communications in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Insider Activity

In other news, CEO Kyle Malady sold 1,100 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $50.06, for a total value of $55,066.00. Following the completion of the transaction, the chief executive officer directly owned 108,766 shares in the company, valued at $5,444,825.96. This trade represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.03% of the stock is currently owned by insiders.

Verizon Communications Price Performance

NYSE VZ opened at $50.26 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.60 and a quick ratio of 0.57. The stock’s fifty day moving average price is $46.07 and its 200 day moving average price is $47.45. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. The company has a market cap of $208.82 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 1.70 and a beta of 0.26.

Verizon Communications (NYSE:VZ) last issued its earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The company had revenue of $34.25 billion during the quarter, compared to analyst estimates of $35.16 billion. During the same quarter last year, the business posted $1.22 EPS. The firm’s quarterly revenue was down .7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, equities research analysts forecast that Verizon Communications Inc. will post 5.03 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a $0.7075 dividend. This represents a $2.83 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Friday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 73.70%.

Analyst Upgrades and Downgrades

VZ has been the topic of several recent analyst reports. Erste Group Bank reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Tuesday, May 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a research note on Wednesday, August 26th. TD Cowen raised their price target on Verizon Communications from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Morgan Stanley boosted their price target on Verizon Communications from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. Finally, Wells Fargo & Company upped their price objective on shares of Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Eight analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $50.97.

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.