Verizon Communications Inc. (NYSE:VZ – Get Free Report)’s stock price rose 1.1% on Monday . The stock traded as high as $47.02 and last traded at $46.8770. Approximately 24,477,528 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 29,364,691 shares. The stock had previously closed at $46.37.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Weiss Ratings raised Verizon Communications from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Dbs Bank cut shares of Verizon Communications from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Erste Group Bank reaffirmed a “hold” rating on shares of Verizon Communications in a report on Tuesday, May 5th. Scotiabank upgraded shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $50.25 to $54.50 in a research report on Monday, March 9th. Finally, Wells Fargo & Company increased their target price on Verizon Communications from $44.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $50.59.
Verizon Communications Price Performance
Verizon Communications (NYSE:VZ – Get Free Report) last released its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, beating the consensus estimate of $1.21 by $0.07. The company had revenue of $34.44 billion for the quarter, compared to analyst estimates of $34.82 billion. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.19 EPS. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. As a group, equities analysts forecast that Verizon Communications Inc. will post 4.96 EPS for the current fiscal year.
Insider Activity at Verizon Communications
In other Verizon Communications news, Director Hans Erik Vestberg sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $49.61, for a total value of $9,922,000.00. Following the completion of the sale, the director owned 145,069 shares in the company, valued at approximately $7,196,873.09. The trade was a 57.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mary-Lee Stillwell sold 8,569 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $50.00, for a total transaction of $428,450.00. Following the completion of the transaction, the senior vice president owned 43,782 shares in the company, valued at $2,189,100. This represents a 16.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.03% of the company’s stock.
Institutional Trading of Verizon Communications
Several large investors have recently modified their holdings of the business. RKL Wealth Management LLC lifted 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 during the period. Strategic Investment Solutions Inc. IL increased its stake in shares of Verizon Communications by 8.6% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 2,765 shares of the cell phone carrier’s stock valued at $113,000 after buying an additional 219 shares during the period. Frazier Financial Advisors LLC raised its holdings in shares of Verizon Communications by 32.7% during the first quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier’s stock valued at $45,000 after acquiring an additional 219 shares in the last quarter. Sumitomo Life Insurance Co. raised its holdings in shares of Verizon Communications by 0.7% during the fourth quarter. Sumitomo Life Insurance Co. now owns 35,023 shares of the cell phone carrier’s stock valued at $1,426,000 after acquiring an additional 227 shares in the last quarter. Finally, Blake Schutter Theil Wealth Advisors LLC lifted its stake in Verizon Communications by 3.8% in the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 6,305 shares of the cell phone carrier’s stock worth $257,000 after acquiring an additional 233 shares during the period. 62.06% of the stock is owned by institutional investors.
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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