1,332,460 Shares in Verizon Communications Inc. $VZ Bought by Nykredit A S

Key Points

• Nykredit A/S purchased 1.33 million Verizon shares during the second quarter, valued at approximately $56.4 million. Institutional investors collectively own 62.06% of Verizon’s stock.
• Analyst sentiment remains mixed, with eight Buy ratings and twelve Hold ratings. The consensus price target is $50.97, while individual targets range from $44 to $56.
• Verizon reported quarterly EPS of $1.30, exceeding estimates of $1.27, but revenue of $34.25 billion fell short of expectations and declined 0.7% year over year. Shares opened at $50.21, near their 52-week high.

Nykredit A S purchased a new stake in Verizon Communications Inc. (NYSE:VZ - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,332,460 shares of the cell phone carrier's stock, valued at approximately $56,416,000.

Other hedge funds also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC boosted its position in shares of Verizon Communications by 490.0% in the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier's stock worth $26,000 after buying an additional 539 shares during the period. Gill Capital Partners LLC raised its holdings in shares of Verizon Communications by 74.6% during the 2nd 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 during the period. Robinswood Financial LLC purchased a new stake in shares of Verizon Communications during the 1st quarter valued at about $27,000. Lam Group Inc. acquired a new position in Verizon Communications during the 1st quarter worth approximately $28,000. Finally, Sarver Vrooman Wealth Advisors lifted its position in Verizon Communications by 173.0% during the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier's stock worth $29,000 after acquiring an additional 448 shares in the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on VZ. 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. Weiss Ratings reissued a "buy (b)" rating on shares of Verizon Communications in a research report on Wednesday, August 26th. TD Cowen upped their target price on shares of Verizon Communications from $54.00 to $56.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Moffett Nathanson lowered their price target on shares of Verizon Communications from $56.00 to $49.00 and set a "neutral" rating for the company in a report on Monday, July 20th. Finally, Royal Bank Of Canada lifted their price target on shares of Verizon Communications from $46.00 to $47.00 and gave the stock a "sector perform" rating in a research note on Monday, July 27th. Eight equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $50.97.

Verizon Communications Trading Down 0.2%

Shares of VZ opened at $50.21 on Thursday. Verizon Communications Inc. has a one year low of $38.39 and a one year high of $51.68. The stock has a 50-day moving average price of $46.16 and a 200 day moving average price of $47.45. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.57 and a current ratio of 0.60. The company has a market capitalization of $208.60 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.71 and a beta of 0.26.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $34.25 billion for the quarter, compared to the consensus estimate of $35.16 billion. During the same period in the previous year, the business earned $1.22 EPS. Verizon Communications's revenue for the quarter was down .7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Sell-side analysts forecast that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 1,100 shares of Verizon Communications 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 completion of the sale, the chief executive officer owned 107,666 shares in the company, valued at approximately $5,437,133. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,300 shares of company stock worth $164,164 over the last three months. 0.03% of the stock is currently owned by company insiders.

Verizon Communications Company 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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