Victory Capital Management Inc. Has $227.53 Million Position in Verizon Communications Inc. $VZ

by · The Markets Daily

Victory Capital Management Inc. raised its holdings in Verizon Communications Inc. (NYSE:VZ – Free Report) by 16.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,177,088 shares of the cell phone carrier’s stock after buying an additional 726,712 shares during the quarter. Victory Capital Management Inc.’s holdings in Verizon Communications were worth $227,533,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CI Investments Inc. increased its stake in Verizon Communications by 7.7% in the third quarter. CI Investments Inc. now owns 94,735 shares of the cell phone carrier’s stock valued at $4,164,000 after acquiring an additional 6,787 shares during the period. Blueprint Investment Partners LLC bought a new position in Verizon Communications during the third quarter worth about $1,043,000. Accuvest Global Advisors boosted its holdings in Verizon Communications by 8.1% during the third quarter. Accuvest Global Advisors now owns 8,102 shares of the cell phone carrier’s stock valued at $356,000 after purchasing an additional 609 shares in the last quarter. Focus Partners Advisor Solutions LLC grew its stake in shares of Verizon Communications by 32.0% in the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 135,091 shares of the cell phone carrier’s stock valued at $5,705,000 after purchasing an additional 32,752 shares during the period. Finally, Elo Mutual Pension Insurance Co grew its stake in shares of Verizon Communications by 19.0% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 397,637 shares of the cell phone carrier’s stock valued at $17,476,000 after purchasing an additional 63,376 shares during the period. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Performance

Shares of NYSE:VZ opened at $50.86 on Wednesday. The business has a fifty day moving average of $43.75 and a 200-day moving average of $42.45. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.87 and a current ratio of 0.91. Verizon Communications Inc. has a twelve month low of $38.39 and a twelve month high of $51.10. The firm has a market cap of $214.51 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 2.09 and a beta of 0.31.

Verizon Communications (NYSE:VZ – Get Free Report) last issued its quarterly earnings data on Friday, January 30th. The cell phone carrier reported $1.09 EPS 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 for the quarter, compared to analyst estimates of $36.20 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. The company’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, equities research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be given a $0.7075 dividend. 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 annualized dividend and a yield of 5.6%. Verizon Communications’s dividend payout ratio is presently 68.15%.

Insiders Place Their Bets

In other Verizon Communications news, SVP Mary-Lee Stillwell sold 8,569 shares of the stock in a transaction on Monday, March 2nd. The stock was 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 approximately $2,189,100. This trade represents a 16.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hans Erik Vestberg sold 200,000 shares of Verizon Communications stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $49.61, for a total value of $9,922,000.00. Following the completion of the sale, the director directly owned 145,069 shares of the company’s stock, valued at $7,196,873.09. This trade represents a 57.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 218,148 shares of company stock valued at $10,780,356. 0.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

VZ has been the subject of several analyst reports. Evercore raised their target price on Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Citigroup lifted their price objective on Verizon Communications from $48.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, February 3rd. Weiss Ratings upgraded shares of Verizon Communications from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. Scotiabank increased their target price on shares of Verizon Communications from $48.00 to $50.25 and gave the stock a “sector perform” rating in a research report on Monday, February 2nd. Finally, Wells Fargo & Company lifted 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. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.02.

Read Our Latest Research Report on VZ

Verizon Communications Profile

(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.

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