Verizon Communications Inc. (VZ) to Distribute Quarterly Dividend of $0.71 on November 2nd

Verizon Communications Inc. (NYSE:VZ) declared a quarterly dividend on Wednesday, September 9th. Shareholders of record on Friday, October 9th will be paid a dividend of 0.7075 per share by the cell phone carrier on Monday, November 2nd. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, October 9th.

Verizon Communications has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 20 years. Verizon Communications has a dividend payout ratio of 58.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Verizon Communications to earn $5.29 per share next year, which means the company should continue to be able to cover its $2.83 annual dividend with an expected future payout ratio of 53.5%.

Verizon Communications Trading Up 0.3%

Verizon Communications stock opened at $49.91 on Friday. The company has a market capitalization of $207.34 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.69 and a beta of 0.26. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.60 and a quick ratio of 0.57. Verizon Communications has a one year low of $38.39 and a one year high of $51.68. The company’s fifty day moving average price is $46.91 and its two-hundred day moving average price is $47.51.

Verizon Communications (NYSE:VZ) last issued its 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 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%.Verizon Communications’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, analysts forecast that Verizon Communications will post 5.03 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Kyle Malady sold 1,100 shares of Verizon Communications stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $49.98, for a total value of $54,978.00. Following the completion of the sale, the chief executive officer directly owned 106,566 shares of the company’s stock, valued at approximately $5,326,168.68. This trade represents a 1.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 4,400 shares of company stock worth $219,142 in the last quarter. 0.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Verizon Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Robinswood Financial LLC bought a new stake in Verizon Communications in the first quarter valued at about $27,000. Lam Group Inc. bought a new position in Verizon Communications during the first quarter worth about $28,000. Gill Capital Partners LLC grew its position in shares of Verizon Communications by 74.6% during the 2nd quarter. Gill Capital Partners LLC now owns 620 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 265 shares during the period. Sarver Vrooman Wealth Advisors grew its position in shares of 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 buying an additional 448 shares during the period. Finally, Quattro Advisors LLC bought a new stake in shares of Verizon Communications in the 4th quarter valued at about $30,000. 62.06% of the stock is owned by institutional investors.

About Verizon Communications

Verizon Communications Inc is a telecommunications company that provides wireless communications, broadband, and related technology services. Its offerings include mobile voice and data plans, 5G connectivity, fixed wireless access, fiber-optic internet through Verizon Fios, home services, and connected-device solutions.

Through Verizon Business, the company serves enterprises, government agencies, and other organizations with communications networks, managed connectivity, cybersecurity, cloud and edge-computing services, unified communications, and Internet of Things solutions.