Verizon Communications Inc. $VZ Shares Purchased by Rempart Asset Management Inc.

Rempart Asset Management Inc. raised its holdings in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 comprises about 2.7% of Rempart Asset Management Inc.’s portfolio, making the stock its 21st largest holding. Rempart Asset Management Inc.’s holdings in Verizon Communications were worth $14,502,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. McLean Asset Management Corp boosted its holdings in shares of Verizon Communications by 2.9% in the 3rd quarter. McLean Asset Management Corp now owns 8,571 shares of the cell phone carrier’s stock valued at $355,000 after buying an additional 243 shares during the period. Red Spruce Capital LLC raised its stake in Verizon Communications by 0.3% during the third quarter. Red Spruce Capital LLC now owns 71,541 shares of the cell phone carrier’s stock worth $3,144,000 after acquiring an additional 246 shares during the period. Cascade Financial Partners LLC raised its stake in Verizon Communications by 3.5% during the third quarter. Cascade Financial Partners LLC now owns 7,318 shares of the cell phone carrier’s stock worth $322,000 after acquiring an additional 250 shares during the period. Monetary Management Group Inc. lifted its holdings in Verizon Communications by 0.8% in the second quarter. Monetary Management Group Inc. now owns 30,400 shares of the cell phone carrier’s stock worth $1,315,000 after acquiring an additional 250 shares during the last quarter. Finally, Centurion Wealth Management LLC lifted its holdings in Verizon Communications by 4.1% in the third quarter. Centurion Wealth Management LLC now owns 6,490 shares of the cell phone carrier’s stock worth $285,000 after acquiring an additional 254 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Verizon Communications

In other news, Director Hans Erik Vestberg sold 200,000 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $49.61, for a total value 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. This represents a 57.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Mary-Lee Stillwell sold 8,569 shares of the firm’s 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 transaction, the senior vice president directly owned 43,782 shares in the company, valued at $2,189,100. This trade represents a 16.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 218,148 shares of company stock valued at $10,780,356. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on VZ. Barclays began coverage on Verizon Communications in a report on Thursday, January 22nd. They set an “equal weight” rating and a $43.00 target price for the company. Oppenheimer raised their price target on Verizon Communications from $50.00 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, March 11th. Wells Fargo & Company boosted their price objective on Verizon Communications from $41.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, February 2nd. KeyCorp reaffirmed a “sector weight” rating on shares of Verizon Communications in a research report on Monday, January 26th. Finally, Williams Trading set a $54.00 target price on Verizon Communications in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus price target of $50.32.

View Our Latest Analysis on VZ

Key Verizon Communications News

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

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $50.36 on Thursday. The firm’s 50 day moving average is $47.05 and its two-hundred day moving average is $43.17. The firm has a market capitalization of $212.40 billion, a P/E ratio of 12.43, a PEG ratio of 2.13 and a beta of 0.31. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.68.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings data on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $36.20 billion. During the same period in the previous year, the firm posted $1.10 earnings per share. 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. Analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be given a dividend of $0.7075 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, April 10th. This represents a $2.83 dividend on an annualized basis and a yield of 5.6%. Verizon Communications’s payout ratio is presently 68.15%.

About Verizon Communications

(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.

See Also

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

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