CNB Bank Decreases Stake in Verizon Communications Inc. (NYSE:VZ)

27 Jun 2025, 16:40 by Michael Walen · The Markets Daily

CNB Bank cut its holdings in Verizon Communications Inc. (NYSE:VZ – Free Report) by 29.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,043 shares of the cell phone carrier’s stock after selling 3,361 shares during the period. CNB Bank’s holdings in Verizon Communications were worth $365,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Bernard Wealth Management Corp. raised its position in Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock valued at $25,000 after purchasing an additional 243 shares during the period. Cherry Tree Wealth Management LLC increased its position in shares of Verizon Communications by 71.8% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 244 shares during the last quarter. Garde Capital Inc. purchased a new stake in Verizon Communications during the 1st quarter valued at $26,000. Mainstream Capital Management LLC bought a new stake in Verizon Communications in the fourth quarter worth $28,000. Finally, Mattson Financial Services LLC boosted its stake in Verizon Communications by 114.6% during the fourth quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock worth $31,000 after buying an additional 415 shares during the period. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

Shares of NYSE:VZ opened at $42.11 on Friday. The firm has a 50 day moving average of $43.18 and a 200 day moving average of $42.21. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $177.55 billion, a price-to-earnings ratio of 10.03, a price-to-earnings-growth ratio of 3.12 and a beta of 0.38. Verizon Communications Inc. has a 52 week low of $37.59 and a 52 week high of $47.36.

Verizon Communications (NYSE:VZ – Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating the consensus estimate of $1.15 by $0.04. Verizon Communications had a net margin of 13.14% and a return on equity of 19.66%. The business had revenue of $33.50 billion during the quarter, compared to analyst estimates of $33.31 billion. On average, sell-side analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.6775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.44%. Verizon Communications’s dividend payout ratio is presently 64.52%.

Insider Transactions at Verizon Communications

In other news, CEO Kyle Malady sold 9,000 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $44.10, for a total transaction of $396,900.00. Following the transaction, the chief executive officer now owns 10,008 shares in the company, valued at $441,352.80. This represents a 47.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 21,500 shares of company stock valued at $938,400 in the last quarter. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VZ. Oppenheimer upped their target price on Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. Evercore ISI raised Verizon Communications from an “in-line” rating to an “outperform” rating and set a $48.00 price objective on the stock in a research report on Friday, April 11th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $45.00 target price (up previously from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Scotiabank boosted their target price on shares of Verizon Communications from $48.50 to $49.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 23rd. Finally, Wall Street Zen cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.41.

Check Out Our Latest Analysis on Verizon Communications

Verizon Communications Profile

(Free Report)

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).