Verizon Communications Inc. $VZ is GQG Partners LLC’s 9th Largest Position

GQG Partners LLC decreased its position in Verizon Communications Inc. (NYSE:VZ) by 21.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,877,241 shares of the cell phone carrier’s stock after selling 9,837,354 shares during the quarter. Verizon Communications accounts for 2.8% of GQG Partners LLC’s portfolio, making the stock its 9th biggest holding. GQG Partners LLC owned approximately 0.86% of Verizon Communications worth $1,519,043,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in shares of Verizon Communications in the 4th quarter worth about $2,357,158,000. Bank of America Corp DE raised its position in shares of Verizon Communications by 15.4% during the 1st quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier’s stock valued at $3,117,471,000 after buying an additional 8,289,877 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Verizon Communications by 31.2% in the 4th quarter. Bank of New York Mellon Corp now owns 31,584,162 shares of the cell phone carrier’s stock valued at $1,286,423,000 after acquiring an additional 7,509,055 shares during the last quarter. State Street Corp lifted its holdings in shares of Verizon Communications by 3.5% in the 4th quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock valued at $9,080,810,000 after acquiring an additional 7,461,335 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Verizon Communications by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier’s stock worth $4,747,930,000 after acquiring an additional 5,851,715 shares in the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

Verizon Communications stock opened at $50.11 on Friday. 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 firm has a market capitalization of $208.20 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 1.38 and a beta of 0.25. Verizon Communications Inc. has a 1-year low of $38.39 and a 1-year high of $51.68. The company’s 50-day moving average is $45.91 and its 200 day moving average is $47.42.

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

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 73.70%.

Wall Street Analyst Weigh In

VZ has been the topic of several analyst reports. Wells Fargo & Company boosted their price objective on Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. Freedom Capital upgraded Verizon Communications to a “hold” rating in a report on Friday, June 12th. Erste Group Bank reiterated a “hold” rating on shares of Verizon Communications in a report on Tuesday, May 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Verizon Communications in a research report on Wednesday. Finally, Morgan Stanley increased their price target on Verizon Communications from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Nine equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.84.

Insider Transactions at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $50.06, for a total value of $55,066.00. Following the transaction, the chief executive officer owned 108,766 shares of the company’s stock, valued at $5,444,825.96. This represents a 1.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 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.