Integrated Wealth Concepts LLC Raises Position in Verizon Communications Inc. $VZ

Integrated Wealth Concepts LLC boosted its holdings in Verizon Communications Inc. (NYSE:VZ) by 8.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 219,124 shares of the cell phone carrier’s stock after purchasing an additional 16,457 shares during the period. Integrated Wealth Concepts LLC’s holdings in Verizon Communications were worth $9,631,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. McLean Asset Management Corp increased its holdings in shares of Verizon Communications by 2.9% in the third quarter. McLean Asset Management Corp now owns 8,571 shares of the cell phone carrier’s stock worth $355,000 after buying an additional 243 shares during the period. Red Spruce Capital LLC boosted its holdings in Verizon Communications by 0.3% during the 3rd quarter. Red Spruce Capital LLC now owns 71,541 shares of the cell phone carrier’s stock valued at $3,144,000 after acquiring an additional 246 shares during the period. Camden National Bank boosted its holdings in Verizon Communications by 4.6% during the 2nd quarter. Camden National Bank now owns 5,666 shares of the cell phone carrier’s stock valued at $245,000 after acquiring an additional 248 shares during the period. Cascade Financial Partners LLC grew its position in Verizon Communications by 3.5% during the 3rd 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 last quarter. Finally, Monetary Management Group Inc. grew its position in Verizon Communications by 0.8% during the 2nd 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. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VZ has been the subject of several recent research reports. Evercore boosted their price objective on Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. KeyCorp restated a “sector weight” rating on shares of Verizon Communications in a report on Monday, January 26th. Scotiabank raised shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $50.25 to $54.50 in a research note on Monday, March 9th. Wells Fargo & Company upped their price target on shares of Verizon Communications from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. Finally, Raymond James Financial reissued an “outperform” rating and issued a $56.00 price target on shares of Verizon Communications in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Verizon Communications has an average rating of “Moderate Buy” and a consensus price target of $50.03.

Verizon Communications Stock Performance

Verizon Communications stock opened at $51.01 on Tuesday. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.67. The stock’s 50 day simple moving average is $45.62 and its two-hundred day simple moving average is $42.86. 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 stock has a market cap of $215.16 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 2.15 and a beta of 0.30.

Verizon Communications (NYSE:VZ) last announced its earnings results 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. The firm had revenue of $36.38 billion during the quarter, compared to analyst estimates of $36.20 billion. Verizon Communications had a return on equity of 19.03% and a net margin of 12.43%.The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 EPS. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. As a group, analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company 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 $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a yield of 5.5%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, April 10th. Verizon Communications’s dividend payout ratio is currently 68.15%.

Insider Buying and Selling at Verizon Communications

In other news, SVP Mary-Lee Stillwell sold 8,569 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $50.00, for a total value of $428,450.00. Following the sale, the senior vice president directly owned 43,782 shares of the company’s stock, valued at $2,189,100. This represents a 16.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph J. Russo sold 9,579 shares of the stock in a transaction dated 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 owned 44,045 shares of the company’s stock, valued at approximately $1,976,739.60. The trade was a 17.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 218,148 shares of company stock valued at $10,780,356. 0.10% of the stock is currently owned by company insiders.

Verizon Communications 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.