Verizon Communications (NYSE: VZ) stock traded slightly lower on Thursday after new CEO Dan Schulman announced the company’s largest-ever round of layoffs — more than 13,000 jobs — alongside a sweeping restructuring designed to “reorient” the telecom giant around customer experience and profitability. 1
Verizon Stock Price Today: How VZ Is Trading
As of the latest trade on Thursday, November 20, 2025, Verizon stock was changing hands around $40.86, down roughly 0.8% on the day. Intraday, shares have traded between $40.67 and $41.44, with more than 23 million shares exchanging hands — above a typical quiet session for the stock.
Key snapshot for VZ today:
- Latest price: about $40–41
- Day’s move: modest decline (less than 1%), roughly in line with broader market weakness 2
- 12‑month range: roughly $37.6 – $47.4 3
- Dividend yield: about 6.7% on an annualized dividend of $2.76 per share after Verizon’s recent increase to $0.69 per quarter 3
- Valuation: price/earnings ratio around 9x, with a relatively low beta of ~0.35, reflecting its defensive, income‑oriented profile 3
The muted stock reaction suggests investors had partially priced in restructuring news and are weighing near‑term disruption against the promise of long‑term cost savings.
The Big Story: Verizon Cutting 13,000+ Jobs in Its Largest-Ever Layoff
The main driver of today’s trading action is a dramatic restructuring plan:
- More than 13,000 jobs cut: Verizon confirmed it will reduce its workforce by over 13,000 employees, its largest single layoff on record. 1
- Focus on management & non‑union staff: The reductions represent roughly 20% of the company’s management workforce and about 20% of non‑union wage costs, according to company communications cited by Reuters and the Associated Press. 1
- Retail overhaul: Verizon will convert 179 company‑owned retail stores into franchise locations and close at least one store, shifting more of its physical footprint to partners rather than directly operated outlets. 1
- $20 million “Reskilling and Career Transition Fund”: The company is establishing a $20 million fund to support laid‑off workers with job search help and training for skills “in the age of AI,” while emphasizing that the cuts are not directly caused by AI deployment. 1
In a memo to staff, Schulman said Verizon’s current cost structure “limits” its ability to invest in customer value and pledged to simplify operations, reduce outsourced labor and remove “complexity and friction” that he says frustrate customers and slows decision‑making. 1
The cuts began Thursday and will primarily impact the U.S. workforce, which stood at around 100,000 employees at the end of 2024. Verizon had already eliminated nearly 20,000 jobs over the prior three years before this new round. 1
Why Now? Schulman’s Bid to Reorient Verizon
Dan Schulman, a longtime Verizon board member and former PayPal CEO, formally took the helm in October and has quickly moved to reshape the company. 1
Several structural pressures explain why this reset is happening now:
- Slowing subscriber growth: In the third quarter, Verizon added just 44,000 postpaid phone subscribers, lagging AT&T and far behind T‑Mobile, which added more than 1 million net subscribers. 1
- Intense competitive pressure: Aggressive device promotions and trade‑in offers from rivals AT&T and T‑Mobile have squeezed Verizon’s ability to grow without sacrificing margins. 1
- Heavy 5G and acquisition spending: Verizon spent about $52 billion on mid‑band 5G spectrum in a 2021 auction and has layered on major deals, including a $20 billion acquisition of Frontier Communications and a $6 billion purchase of TracFone Wireless, putting pressure on its balance sheet and limiting flexibility. 1
- Transformation mandate: Verizon’s own corporate communications have been previewing a deep transformation, including appointing Alfonso Villanueva as Executive Vice President and Chief Transformation Officer, effective November 20, 2025. 4
In recent comments, Schulman has described Verizon as being at a “critical inflection point” and promised an “aggressive transformation” of operations rather than incremental tweaks. 2
Earnings, Guidance and Verizon’s 6.7% Dividend
Today’s restructuring moves sit on top of a mixed earnings and guidance backdrop:
Q3 2025 Results
- EPS beat, revenue miss: Verizon reported Q3 earnings of $1.21 per share, beating consensus of $1.19, while revenue of $33.82 billion came in slightly below expectations of $34.19 billion. 5
- Modest growth: Revenue was up about 1.5% year over year, highlighting slow but positive top‑line growth in a mature U.S. wireless market. 3
- Subscriber mix: Verizon has been seeing stronger growth in prepaid wireless and fixed‑wireless broadband but modest declines or stagnation in postpaid handset connections, including a net loss of 7,000 postpaid connectionsin Q3. 2
Earnings Forecasts Trimmed
On November 20, Zacks Research cut its Q4 2025 EPS estimate for Verizon from $1.09 to $1.07, while keeping full‑year 2025 earnings around $4.69 per share and projecting about $4.89 per share for 2026. 3
Analysts cited in the same report:
- Note slower earnings growth in recent years.
- Still broadly expect modest EPS improvement beginning in 2025–2026, supported by cost discipline and 5G monetization. 3
Dividend and Income Appeal
Verizon’s dividend remains a key part of the investment story:
- Quarterly dividend: recently raised from $0.68 to $0.69 per share, or $2.76 annually. 3
- Dividend yield: roughly 6.5–7% at today’s share price, putting Verizon firmly in high‑yield territory among large U.S. blue chips. 3
- Payout ratio: around 59% of earnings, according to MarketBeat, leaving some headroom but not an abundance of slack given capex needs and debt. 3
For income‑oriented investors, the combination of a sizable dividend and low P/E remains attractive — but the sustainability of that payout depends on Schulman’s ability to stabilize growth and margins over the next several years.
What Wall Street Thinks: Price Targets and Ratings
Analyst sentiment on Verizon today can be summed up as cautiously constructive:
- Consensus rating: most aggregators show Verizon at roughly “Hold” to “Moderate Buy”, with a majority of ratings clustered in the Hold camp. 3
- Average 12‑month price target:
Recent notable analyst moves:
- RBC Capital maintained a Sector Perform rating but cut its price target to $44 from $46 following Q3 results. 8
- Scotiabank has kept a Sector Perform rating while raising its target to about $51, slightly above many peers. 9
- JPMorgan trimmed its target from $49 to $47 and kept a neutral stance. 3
In short, Wall Street broadly sees limited downside at current levels but is waiting for clear proof that Schulman’s restructuring can translate into durable EPS growth before re‑rating the stock more aggressively.
Big Money Moves: Institutional Buying and Unusual Options Activity
Institutions Are Adding to VZ
A MarketBeat filing alert today highlighted that Prudential PLC boosted its Verizon position by 30.3% in Q2, bringing its stake to 495,904 shares worth roughly $21.5 million. The same report notes: 5
- Large managers like GQG Partners, Nuveen, Pacer Advisors, Acadian Asset Management and Goldman Sachs have also significantly increased positions in recent quarters.
- Overall, about 62% of Verizon’s shares are now held by institutional investors and hedge funds. 5
This level of institutional ownership reinforces the stock’s status as a core income and defensive holding in many diversified portfolios.
Options Market: Whales Lean Slightly Bullish
Benzinga flagged 12 “unusual” options trades in Verizon today, suggesting heightened interest from large investors or so‑called “whales”: 10
- 8 call trades vs 4 put trades, with:
- Around $504,000 in call premium,
- Versus about $137,000 in put premium.
- The trades span strikes from $32 to $50, with notable size in:
- Jan 16, 2026 $40 calls,
- Longer‑dated 2027 $45 calls, and $50 calls into mid‑2026. 10
The flow skews modestly bullish, implying some big players are positioning for stability or upside over the next 12–24 months rather than a sharp breakdown.
How Today’s Layoffs Could Affect Verizon Stock
From an investor’s perspective, today’s news has two competing narratives:
The Bullish Interpretation
Supporters of the move may argue:
- Margin upside: Cutting 13,000+ roles and slimming down management could meaningfully reduce operating expenses over time, especially after years of heavy 5G and M&A spending. 1
- Capital redeployment: Lower headcount and fewer corporate‑owned stores may free up resources for network upgrades, spectrum utilization, and customer‑facing initiatives.
- High starting yield: With a dividend yield near 7% and a single‑digit earnings multiple, any sustained improvement in EPS or free cash flow could drive both income and capital appreciation.
The Bearish (or Cautious) Interpretation
Skeptics will focus on:
- Sign of structural pressure: Mass layoffs at a mature telecom often signal slow growth and rising competitive stress, not just efficiency gains. 1
- Execution risk: Restructuring on this scale can hurt morale, disrupt operations and lead to customer service issues — exactly what Verizon is trying to fix.
- Debt & investment load: The company still must service significant debt from spectrum buys and acquisitions while funding ongoing 5G rollout and fiber expansion. 1
So far, the stock’s relatively small move suggests the market sees no immediate crisis, but also no instant transformation. Investors appear to be in “wait and see” mode.
Is Verizon Stock a Buy After Today’s News?
Whether Verizon stock is attractive after these announcements depends heavily on your goals and risk tolerance. Here’s a neutral framework rather than a recommendation:
Verizon may appeal if you:
- Prioritize high, relatively stable income from a large U.S. company.
- Believe Schulman can execute on cost cuts without damaging the brand or network quality.
- Think U.S. wireless remains an essential, utility‑like service where incumbents ultimately preserve pricing power.
Verizon may be less appealing if you:
- Want fast growth or exposure to high‑beta tech and AI names.
- Worry that deep layoffs signal persistent competitive weakness versus AT&T, T‑Mobile and cable rivals.
- Prefer cleaner balance sheets and lower capital‑intensive business models.
Most analysts see moderate upside, but not a transformational story, at least not yet. 6
Key Takeaways for Investors Watching VZ Today
- Stock action: Verizon shares are slightly lower today, reflecting a muted but cautious reaction to major restructuring news. 2
- Mass layoffs: The company is cutting over 13,000 jobs, roughly 20% of management, converting 179 stores to franchises, and setting up a $20m reskilling fund — its most aggressive shake‑up in years. 1
- Fundamentals: Q3 delivered an EPS beat but modest revenue growth; Zacks trimmed near‑term earnings estimates, while the dividend yields nearly 7%. 3
- Street view: Analysts broadly rate Verizon a Hold / Moderate Buy, with average price targets in the mid‑$40s, implying mid‑teens upside from here. 6
- Smart money: Institutions continue to accumulate shares, and recent options activity skews mildly bullish, targeting a wide price range from the low $30s to around $50. 5
For now, Verizon remains what it has long been for many portfolios: a slow‑growth, high‑yield telecom that’s trying to convince the market it can do more than just pay a big dividend. Whether Schulman’s restructuring ultimately unlocks that potential is likely to be a key driver of VZ stock through 2026 and beyond.
This article is for informational purposes only and does not constitute financial or investment advice. Always do your own research or consult a licensed financial advisor before making investment decisions.
