Cerity Partners LLC Has $53.53 Million Holdings in Verizon Communications Inc. $VZ

by · The Markets Daily

Cerity Partners LLC decreased its holdings in Verizon Communications Inc. (NYSE:VZ – Free Report) by 9.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,314,401 shares of the cell phone carrier’s stock after selling 135,441 shares during the period. Cerity Partners LLC’s holdings in Verizon Communications were worth $53,533,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Foster Dykema Cabot & Partners LLC bought a new stake in shares of Verizon Communications in the 3rd quarter valued at about $29,000. Strengthening Families & Communities LLC increased its stake in shares of Verizon Communications by 490.0% in the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock valued at $26,000 after buying an additional 539 shares during the period. Holos Integrated Wealth LLC bought a new position in shares of Verizon Communications during the fourth quarter worth about $28,000. EQ Wealth Advisors LLC bought a new position in shares of Verizon Communications during the fourth quarter worth about $29,000. Finally, Sarver Vrooman Wealth Advisors lifted its stake in shares of Verizon Communications by 173.0% in the fourth 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 period. 62.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Scotiabank upgraded shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $50.25 to $54.50 in a report on Monday, March 9th. Oppenheimer increased their price objective on shares of Verizon Communications from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 11th. Barclays boosted their target price on shares of Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, March 31st. Morgan Stanley lifted their price objective on Verizon Communications from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Finally, Citigroup upped their target price on Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Read Our Latest Stock Analysis on Verizon Communications

Verizon Communications Stock Performance

NYSE VZ opened at $45.84 on Wednesday. The company has a market cap of $191.40 billion, a P/E ratio of 11.18, a PEG ratio of 1.11 and a beta of 0.24. The company has a fifty day simple moving average of $47.35 and a 200 day simple moving average of $45.36. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68.

Verizon Communications (NYSE:VZ – Get Free Report) last released its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.07. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The firm had revenue of $34.44 billion for the quarter, compared to the consensus estimate of $34.82 billion. During the same quarter in the prior year, the company posted $1.19 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Sell-side analysts predict that Verizon Communications Inc. will post 4.97 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be issued a $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Friday, July 10th. Verizon Communications’s dividend payout ratio is currently 69.02%.

About Verizon Communications

(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.

Further Reading

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