State Street Corp Sells 5,177,454 Shares of Verizon Communications Inc. $VZ

State Street Corp reduced its position in Verizon Communications Inc. (NYSE:VZ) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,676,274 shares of the cell phone carrier’s stock after selling 5,177,454 shares during the period. State Street Corp owned 0.05% of Verizon Communications worth $8,877,693,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of VZ. Geode Capital Management LLC raised its position in shares of Verizon Communications by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 102,632,509 shares of the cell phone carrier’s stock valued at $4,168,080,000 after buying an additional 867,694 shares in the last quarter. Bank of America Corp DE boosted its holdings in 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 acquiring an additional 8,289,877 shares during the period. Norges Bank purchased a new stake in shares of Verizon Communications during the fourth quarter valued at $2,357,158,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Verizon Communications by 14.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,173,226 shares of the cell phone carrier’s stock valued at $1,743,274,000 after buying an additional 5,075,794 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Verizon Communications by 20.8% in the first quarter. Bank of New York Mellon Corp now owns 38,164,982 shares of the cell phone carrier’s stock worth $1,915,882,000 after purchasing an additional 6,580,820 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Down 1.5%

NYSE:VZ traded down $0.69 during mid-day trading on Tuesday, hitting $46.98. 9,421,153 shares of the company’s stock traded hands, compared to its average volume of 27,304,016. The company has a fifty day moving average of $47.92 and a 200 day moving average of $47.50. Verizon Communications Inc. has a twelve month low of $38.39 and a twelve month high of $51.68. The company has a market capitalization of $195.21 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.63 and a beta of 0.26. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.57 and a current ratio of 0.60.

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

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be paid a $0.7075 dividend. The ex-dividend date is Friday, October 9th. This represents a $2.83 dividend on an annualized basis and a yield of 6.0%. Verizon Communications’s dividend payout ratio (DPR) is 73.70%.

Key Headlines Impacting Verizon Communications

Here are the key news stories impacting Verizon Communications this week:

• Positive Sentiment: Verizon’s free cash flow increased 24.4% in the second quarter, supporting expectations for stronger 2026 cash generation. Cost savings and continued network investment could improve financial flexibility and help support the company’s dividend. Verizon Delivers Strong Free Cash Flow Growth: Can Momentum Continue?
• Positive Sentiment: Verizon’s agreement with Corning to receive more than 80 million fiber miles through 2032 provides long-term visibility for network modernization. The spending could strengthen Verizon’s backhaul capacity as data traffic and AI-related bandwidth demand grow. Meta Platforms’ Petal Cable Puts Corning at the Center of AI’s Bandwidth Boom

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $49.98, for a total transaction of $54,978.00. Following the transaction, the chief executive officer owned 106,566 shares in the company, valued at approximately $5,326,168.68. This represents a 1.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 4,400 shares of company stock worth $219,142. 0.03% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Freedom Capital upgraded shares of Verizon Communications to a “hold” rating in a report on Friday, June 12th. Wells Fargo & Company boosted their target price on shares of Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of Verizon Communications in a report on Wednesday, August 26th. 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. Finally, Moffett Nathanson reduced their price objective on shares of Verizon Communications from $56.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, July 20th. Eight investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, Verizon Communications presently has a consensus rating of “Hold” and an average price target of $50.97.

Verizon Communications Company Profile

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.