Verizon Communications Inc. $VZ Position Boosted by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC grew its holdings in Verizon Communications Inc. (NYSE:VZ) by 24.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 176,454 shares of the cell phone carrier’s stock after purchasing an additional 34,931 shares during the period. Axxcess Wealth Management LLC’s holdings in Verizon Communications were worth $7,755,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on VZ shares. Barclays initiated coverage on Verizon Communications in a research note on Thursday, January 22nd. They issued an “equal weight” rating and a $43.00 price target for the company. JPMorgan Chase & Co. boosted their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. 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 note on Tuesday, February 3rd. Evercore lifted their price objective on shares of Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Finally, Williams Trading set a $54.00 price objective on shares of Verizon Communications in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.02.

Insider Transactions at Verizon Communications

In other news, EVP Joseph J. Russo sold 9,579 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $44.88, for a total transaction of $429,905.52. Following the completion of the transaction, the executive vice president directly owned 44,045 shares in the company, valued at $1,976,739.60. The trade was a 17.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is owned by company insiders.

Verizon Communications Stock Performance

NYSE:VZ opened at $48.91 on Wednesday. The firm has a market capitalization of $206.23 billion, a PE ratio of 12.08, a PEG ratio of 2.07 and a beta of 0.33. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $50.24. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32. The firm’s fifty day simple moving average is $41.93 and its 200 day simple moving average is $42.01.

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

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be paid a dividend of $0.7075 per share. This represents a $2.83 annualized dividend and a yield of 5.8%. 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 dividend payout ratio is currently 69.88%.

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.