AMF Tjanstepension AB Has $100.65 Million Stake in Verizon Communications Inc. $VZ

Key Points

• AMF Tjanstepension AB trimmed its Verizon stake by 3.0% in the fourth quarter, but still held 2.47 million shares valued at about $100.65 million.
• Verizon reported better-than-expected earnings of $1.28 per share for the latest quarter, though revenue came in slightly below analyst estimates at $34.44 billion.
• Several analysts remain constructive on the stock, with Verizon carrying a Moderate Buy consensus rating and an average price target of $50.59.

AMF Tjanstepension AB decreased its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,471,252 shares of the cell phone carrier's stock after selling 75,583 shares during the period. AMF Tjanstepension AB owned 0.06% of Verizon Communications worth $100,654,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Verizon Communications by 61.2% during the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock worth $1,759,000 after purchasing an additional 16,704 shares during the period. United Bank raised its position in Verizon Communications by 11.5% in the second quarter. United Bank now owns 7,843 shares of the cell phone carrier's stock worth $339,000 after purchasing an additional 806 shares in the last quarter. Jump Financial LLC raised its position in Verizon Communications by 312.0% in the second quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier's stock worth $1,023,000 after purchasing an additional 17,901 shares in the last quarter. HUB Investment Partners LLC raised its position in Verizon Communications by 17.2% in the second quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier's stock worth $1,779,000 after purchasing an additional 6,034 shares in the last quarter. Finally, Vivaldi Capital Management LP raised its position in Verizon Communications by 5.2% in the second quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier's stock worth $389,000 after purchasing an additional 443 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

Insider Activity

In other news, SVP Mary-Lee Stillwell sold 8,569 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $50.00, for a total transaction of $428,450.00. Following the sale, the senior vice president directly owned 43,782 shares of the company's stock, valued at $2,189,100. This represents a 16.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Hans Erik Vestberg sold 200,000 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $49.61, for a total transaction of $9,922,000.00. Following the sale, the director directly owned 145,069 shares in the company, valued at $7,196,873.09. This trade represents a 57.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.03% of the stock is currently owned by corporate insiders.

Verizon Communications Price Performance

Shares of Verizon Communications stock opened at $46.88 on Tuesday. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $195.74 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 0.97 and a beta of 0.24. Verizon Communications Inc. has a 1-year low of $38.39 and a 1-year high of $51.68. The firm's 50-day moving average price is $48.38 and its two-hundred day moving average price is $44.57.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.07. The firm had revenue of $34.44 billion for the quarter, compared to analysts' expectations of $34.82 billion. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The company's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, equities analysts predict that Verizon Communications Inc. will post 4.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Oppenheimer increased their price target on shares of Verizon Communications from $50.00 to $56.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 11th. Weiss Ratings raised shares of Verizon Communications from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, February 5th. KeyCorp reissued a "sector weight" rating on shares of Verizon Communications in a research report on Monday, January 26th. Royal Bank Of Canada increased their price target on shares of Verizon Communications from $44.00 to $48.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 3rd. Finally, William Blair raised shares of Verizon Communications to an "outperform" rating in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Verizon Communications currently has an average rating of "Moderate Buy" and a consensus target price of $50.59.

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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