NEOS Investment Management LLC Purchases 68,482 Shares of Verizon Communications Inc. $VZ

NEOS Investment Management LLC raised its holdings in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 11.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 689,071 shares of the cell phone carrier’s stock after acquiring an additional 68,482 shares during the quarter. NEOS Investment Management LLC’s holdings in Verizon Communications were worth $29,175,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. RKL Wealth Management LLC increased its holdings in Verizon Communications by 4.3% in the 1st quarter. RKL Wealth Management LLC now owns 5,338 shares of the cell phone carrier’s stock worth $268,000 after buying an additional 218 shares in the last quarter. Manchester Financial Inc. boosted its holdings in Verizon Communications by 0.6% in the second quarter. Manchester Financial Inc. now owns 34,924 shares of the cell phone carrier’s stock worth $1,479,000 after purchasing an additional 218 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its position in Verizon Communications by 8.6% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 2,765 shares of the cell phone carrier’s stock worth $113,000 after purchasing an additional 219 shares during the period. Frazier Financial Advisors LLC raised its stake in Verizon Communications by 32.7% during the 1st quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier’s stock valued at $45,000 after buying an additional 219 shares during the last quarter. Finally, FAS Wealth Partners Inc. raised its stake in Verizon Communications by 1.2% during the 1st quarter. FAS Wealth Partners Inc. now owns 18,421 shares of the cell phone carrier’s stock valued at $925,000 after buying an additional 223 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Down 0.9%

VZ opened at $50.15 on Friday. The firm’s fifty day moving average is $46.32 and its 200 day moving average is $47.48. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.68. The stock has a market cap of $208.36 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 1.72 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:VZGet Free Report) last released its earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share (EPS) 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 firm had revenue of $34.25 billion during the quarter, compared to analysts’ expectations of $35.16 billion. During the same quarter last year, the business posted $1.22 earnings per share. The firm’s 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, sell-side analysts forecast that Verizon Communications Inc. will post 5.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Verizon Communications in a research note on Wednesday, August 26th. Freedom Capital raised Verizon Communications to a “hold” rating in a report on Friday, June 12th. BNP Paribas Exane dropped their target price on Verizon Communications from $46.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 14th. Scotiabank boosted their price target on Verizon Communications from $51.50 to $52.50 and gave the company a “sector outperform” rating in a research note on Monday, July 27th. Finally, Moffett Nathanson reduced their price target on shares of Verizon Communications from $56.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, July 20th. Eight analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $50.97.

Get Our Latest Analysis on VZ

Insider Transactions at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $50.50, for a total value of $55,550.00. Following the sale, the chief executive officer owned 107,666 shares in the company, valued at $5,437,133. The trade was a 1.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 3,300 shares of company stock valued at $164,164. Insiders own 0.03% of the company’s stock.

Verizon Communications Company Profile

(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.

See Also

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZFree Report).

Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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