Silverlake Wealth Management LLC Sells 15,551 Shares of Verizon Communications Inc. $VZ

Silverlake Wealth Management LLC reduced its position in shares of Verizon Communications Inc. (NYSE:VZ) by 12.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,030 shares of the cell phone carrier’s stock after selling 15,551 shares during the period. Verizon Communications makes up 0.8% of Silverlake Wealth Management LLC’s portfolio, making the stock its 25th biggest holding. Silverlake Wealth Management LLC’s holdings in Verizon Communications were worth $4,447,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. RKL Wealth Management LLC boosted its stake in Verizon Communications by 4.3% during the first quarter. RKL Wealth Management LLC now owns 5,338 shares of the cell phone carrier’s stock valued at $268,000 after buying an additional 218 shares during the period. Strategic Investment Solutions Inc. IL increased its stake in Verizon Communications by 8.6% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 2,765 shares of the cell phone carrier’s stock worth $113,000 after acquiring an additional 219 shares during the last quarter. Frazier Financial Advisors LLC increased its stake in Verizon Communications by 32.7% in the 1st quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier’s stock worth $45,000 after acquiring an additional 219 shares during the last quarter. FAS Wealth Partners Inc. raised its holdings in shares of Verizon Communications by 1.2% in the 1st quarter. FAS Wealth Partners Inc. now owns 18,421 shares of the cell phone carrier’s stock valued at $925,000 after acquiring an additional 223 shares in the last quarter. Finally, Sumitomo Life Insurance Co. raised its holdings in shares of Verizon Communications by 0.7% in the 4th quarter. Sumitomo Life Insurance Co. now owns 35,023 shares of the cell phone carrier’s stock valued at $1,426,000 after acquiring an additional 227 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $49.34 on Monday. The stock has a market cap of $205.00 billion, a PE ratio of 12.85, a PEG ratio of 1.38 and a beta of 0.25. The company’s fifty day moving average is $45.52 and its 200 day moving average is $47.30. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.68.

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

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given a dividend of $0.7075 per share. The ex-dividend date was Friday, July 10th. This represents a $2.83 annualized dividend and a dividend yield of 5.7%. Verizon Communications’s payout ratio is currently 73.70%.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of Verizon Communications stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $48.68, for a total transaction of $53,548.00. Following the sale, the chief executive officer directly owned 109,866 shares of the company’s stock, valued at approximately $5,348,276.88. The trade was a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on VZ. Scotiabank boosted their price objective on Verizon Communications from $51.50 to $52.50 and gave the stock a “sector outperform” rating in a report on Monday, July 27th. Barclays raised their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Wells Fargo & Company lifted their target price on shares of Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. Royal Bank Of Canada boosted their price target on shares of Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Monday, July 27th. Finally, Moffett Nathanson decreased their price target on shares of Verizon Communications from $56.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, July 20th. Nine research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $50.84.

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.