Haverford Trust Co Sells 10,630 Shares of Verizon Communications Inc. $VZ

Haverford Trust Co decreased its position in Verizon Communications Inc. (NYSE:VZ) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 600,020 shares of the cell phone carrier’s stock after selling 10,630 shares during the quarter. Haverford Trust Co’s holdings in Verizon Communications were worth $25,405,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of VZ. Strengthening Families & Communities LLC grew its holdings in shares of Verizon Communications by 490.0% during the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 539 shares in the last quarter. Robinswood Financial LLC acquired a new stake in Verizon Communications in the 1st quarter valued at approximately $27,000. Lam Group Inc. bought a new stake in Verizon Communications in the 1st quarter valued at approximately $28,000. EQ Wealth Advisors LLC bought a new stake in Verizon Communications in the 4th quarter valued at approximately $29,000. Finally, Sarver Vrooman Wealth Advisors boosted its position in Verizon Communications by 173.0% during the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock worth $29,000 after acquiring an additional 448 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of Verizon Communications from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. BNP Paribas Exane cut their price objective on shares of Verizon Communications from $46.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 14th. Barclays increased their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Scotiabank raised their target price on shares of Verizon Communications from $51.50 to $52.50 and gave the company a “sector outperform” rating in a research report on Monday, July 27th. Finally, TD Cowen lifted their price target on shares of Verizon Communications from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, Verizon Communications currently has a consensus rating of “Hold” and a consensus 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 shares were sold at an average price of $50.06, for a total transaction of $55,066.00. Following the sale, the chief executive officer directly owned 108,766 shares of the company’s stock, valued at approximately $5,444,825.96. This represents a 1.00% decrease in their ownership of the stock. The transaction 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. Company insiders own 0.03% of the company’s stock.

Verizon Communications Stock Up 1.4%

VZ stock opened at $50.11 on Friday. The company has a market cap of $208.20 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 1.38 and a beta of 0.25. Verizon Communications Inc. has a twelve month low of $38.39 and a twelve month high of $51.68. The business has a 50 day moving average price of $45.91 and a two-hundred day moving average price of $47.42. 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 (NYSE:VZ) last announced its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. The company had revenue of $34.25 billion for the quarter, compared to analysts’ expectations of $35.16 billion. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The business’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Analysts anticipate that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.

Verizon Communications Announces Dividend

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

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.