NBH Bank bought a new position in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,214 shares of the cell phone carrier’s stock, valued at approximately $432,000.
Other large investors have also recently modified their holdings of the company. Robinswood Financial LLC bought a new position in shares of Verizon Communications in the 1st quarter valued at $27,000. Lam Group Inc. bought a new stake in shares of Verizon Communications during the 1st quarter worth $28,000. Gill Capital Partners LLC boosted its stake in Verizon Communications by 74.6% in the second quarter. Gill Capital Partners LLC now owns 620 shares of the cell phone carrier’s stock valued at $26,000 after buying an additional 265 shares in the last quarter. Strengthening Families & Communities LLC boosted its stake in 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 in the last quarter. Finally, Sarver Vrooman Wealth Advisors grew its position in Verizon Communications by 173.0% in the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock valued at $29,000 after acquiring an additional 448 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on VZ shares. TD Cowen increased their target price on shares of Verizon Communications from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Morgan Stanley lifted their price target on shares of Verizon Communications from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. BNP Paribas Exane lowered their price objective on shares of Verizon Communications from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, July 14th. Moffett Nathanson dropped 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. Finally, Scotiabank raised their target price on shares of Verizon Communications from $51.50 to $52.50 and gave the company a “sector outperform” rating in a research report on Monday, July 27th. Eight research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, Verizon Communications presently has a consensus rating of “Hold” and an average target price of $50.97.
Insider Transactions at Verizon Communications
In related news, CEO Kyle Malady sold 1,100 shares of Verizon Communications stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $50.50, for a total transaction of $55,550.00. Following the sale, the chief executive officer directly owned 107,666 shares in the company, valued at $5,437,133. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 3,300 shares of company stock valued at $164,164. 0.03% of the stock is owned by company insiders.
Verizon Communications Price Performance
Shares of VZ opened at $50.15 on Friday. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The business has a 50-day simple moving average of $46.32 and a two-hundred day simple moving average of $47.48. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36. The stock has a market cap of $208.36 billion, a PE ratio of 13.06, a PEG ratio of 1.70 and a beta of 0.26.
Verizon Communications (NYSE:VZ – Get Free Report) last posted its earnings results on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, beating 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 the consensus estimate of $35.16 billion. During the same period last year, the company earned $1.22 earnings per share. The business’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. Analysts anticipate that Verizon Communications Inc. will post 5.03 earnings per share for the current fiscal year.
About Verizon Communications
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.
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