Hussman Strategic Advisors Inc. acquired a new position in Verizon Communications Inc. (NYSE:VZ - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 73,500 shares of the cell phone carrier's stock, valued at approximately $2,994,000. Verizon Communications comprises 0.7% of Hussman Strategic Advisors Inc.'s portfolio, making the stock its 23rd largest position.
Other hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. raised its position in Verizon Communications by 4.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 335,856 shares of the cell phone carrier's stock valued at $14,761,000 after purchasing an additional 13,787 shares in the last quarter. Avanza Fonder AB raised its position in Verizon Communications by 5.6% during the 4th quarter. Avanza Fonder AB now owns 331,962 shares of the cell phone carrier's stock valued at $13,521,000 after purchasing an additional 17,495 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in Verizon Communications by 14.0% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 379,174 shares of the cell phone carrier's stock valued at $16,665,000 after purchasing an additional 46,699 shares in the last quarter. Econ Financial Services Corp raised its position in Verizon Communications by 23.5% during the 4th quarter. Econ Financial Services Corp now owns 78,172 shares of the cell phone carrier's stock valued at $3,184,000 after purchasing an additional 14,862 shares in the last quarter. Finally, Wedbush Securities Inc. raised its position in Verizon Communications by 18.4% during the 3rd quarter. Wedbush Securities Inc. now owns 140,981 shares of the cell phone carrier's stock valued at $6,196,000 after purchasing an additional 21,915 shares in the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, SVP Mary-Lee Stillwell sold 8,569 shares of the business's stock in a transaction 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 transaction, the senior vice president directly owned 43,782 shares in the company, valued at $2,189,100. The trade was a 16.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Hans Erik Vestberg sold 200,000 shares of the business's stock in a transaction 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 transaction, the director owned 145,069 shares in the company, valued at approximately $7,196,873.09. This trade represents a 57.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 218,148 shares of company stock worth $10,780,356. 0.03% of the stock is currently owned by company insiders.
Key Verizon Communications News
Here are the key news stories impacting Verizon Communications this week:
Verizon Communications Trading Up 0.3%
Shares of NYSE:VZ opened at $48.17 on Friday. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The business's fifty day simple moving average is $48.94 and its 200-day simple moving average is $44.03. The company has a market capitalization of $201.37 billion, a PE ratio of 11.75, a P/E/G ratio of 1.01 and a beta of 0.25. The company has a current ratio of 0.64, a quick ratio of 0.87 and a debt-to-equity ratio of 1.38.
Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) 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 business had revenue of $34.44 billion for the quarter, compared to the consensus estimate of $34.82 billion. During the same period last year, the business posted $1.19 EPS. The business's revenue was up 2.7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. As a group, equities research analysts predict that Verizon Communications Inc. will post 4.95 earnings per share for the current fiscal year.
Analysts Set New Price Targets
VZ has been the subject of a number of research analyst reports. Weiss Ratings raised Verizon Communications from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, February 5th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $48.00 target price on shares of Verizon Communications in a research report on Monday, February 2nd. William Blair upgraded Verizon Communications to an "outperform" rating in a report on Monday, February 2nd. Royal Bank Of Canada lifted their price target on Verizon Communications from $44.00 to $48.00 and gave the company a "sector perform" rating in a report on Tuesday, February 3rd. Finally, Evercore lifted their price target on Verizon Communications from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Monday, February 2nd. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $50.59.
Get Our Latest Report on VZ
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.
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