Norges Bank acquired a new position in Verizon Communications Inc. (NYSE:VZ – Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 57,872,767 shares of the cell phone carrier’s stock, valued at approximately $2,357,158,000.
Other large investors also recently bought and sold shares of the company. Blake Schutter Theil Wealth Advisors LLC grew its stake in shares of Verizon Communications by 3.8% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 6,305 shares of the cell phone carrier’s stock valued at $257,000 after purchasing an additional 233 shares during the period. Triton Wealth Management PLLC grew its stake in shares of Verizon Communications by 2.6% during the 4th quarter. Triton Wealth Management PLLC now owns 9,257 shares of the cell phone carrier’s stock valued at $377,000 after purchasing an additional 234 shares during the period. Clearstead Trust LLC grew its stake in shares of Verizon Communications by 2.5% during the 4th quarter. Clearstead Trust LLC now owns 9,788 shares of the cell phone carrier’s stock valued at $399,000 after purchasing an additional 240 shares during the period. CWS Financial Advisors LLC grew its stake in shares of Verizon Communications by 1.7% during the 4th quarter. CWS Financial Advisors LLC now owns 14,891 shares of the cell phone carrier’s stock valued at $607,000 after purchasing an additional 246 shares during the period. Finally, Creative Financial Designs Inc. ADV grew its stake in shares of Verizon Communications by 0.9% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 27,471 shares of the cell phone carrier’s stock valued at $1,119,000 after purchasing an additional 248 shares during the period. 62.06% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Verizon Communications
In other news, SVP Mary-Lee Stillwell sold 8,569 shares of Verizon Communications stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $50.00, for a total transaction of $428,450.00. Following the transaction, the senior vice president directly owned 43,782 shares of the company’s stock, valued at $2,189,100. The trade was a 16.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.03% of the stock is currently owned by insiders.
Verizon Communications Stock Down 0.3%
Verizon Communications (NYSE:VZ – Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The firm had revenue of $34.44 billion for the quarter, compared to analysts’ expectations of $34.82 billion. During the same period in the previous year, the firm earned $1.19 EPS. The business’s quarterly 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. On average, equities research analysts forecast that Verizon Communications Inc. will post 4.96 EPS for the current year.
Wall Street Analysts Forecast Growth
VZ has been the subject of a number of recent research reports. Weiss Ratings upgraded Verizon Communications from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. Wells Fargo & Company boosted their price target 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. Evercore boosted their price target on Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Oppenheimer boosted their price target on Verizon Communications from $50.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, March 11th. Finally, Citigroup boosted their price target on Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 20th. One equities research 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, Verizon Communications has an average rating of “Moderate Buy” and a consensus price target of $50.59.
Verizon Communications Profile
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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