Bank Julius Baer & Co. Ltd Zurich Acquires 2,182,746 Shares of Verizon Communications Inc. $VZ

Key Points

• Bank Julius Baer & Co. Ltd Zurich sharply increased its Verizon stake, boosting holdings by 351.6% in the fourth quarter to 2.8 million shares valued at about $114.2 million.
• Verizon’s latest quarterly results were better than expected on earnings, with EPS of $1.28 beating estimates, though revenue came in slightly below forecast at $34.44 billion.
• Analyst sentiment remains cautious but constructive: the stock carries a Moderate Buy consensus, with an average price target of $50.59, while several firms recently nudged their targets higher.

Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 351.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,803,562 shares of the cell phone carrier's stock after acquiring an additional 2,182,746 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.07% of Verizon Communications worth $114,156,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VZ. Strengthening Families & Communities LLC lifted its holdings in Verizon Communications by 490.0% during the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier's stock worth $26,000 after acquiring an additional 539 shares in the last quarter. Holos Integrated Wealth LLC bought a new position in Verizon Communications during the fourth quarter worth about $28,000. Foster Dykema Cabot & Partners LLC bought a new position in Verizon Communications during the third quarter worth about $29,000. EQ Wealth Advisors LLC bought a new position in Verizon Communications during the fourth quarter worth about $29,000. Finally, Daytona Street Capital LLC bought a new position in Verizon Communications during the fourth quarter worth about $33,000. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Performance

VZ opened at $47.19 on Thursday. The business's 50-day moving average price is $48.64 and its two-hundred day moving average price is $44.41. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. The company has a market capitalization of $197.05 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 1.01 and a beta of 0.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.64 and a quick ratio of 0.61.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $34.82 billion. During the same quarter last year, the business posted $1.19 EPS. The company's revenue for the quarter was up 2.7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Equities analysts expect that Verizon Communications Inc. will post 4.96 EPS for the current fiscal year.

More Verizon Communications News

Here are the key news stories impacting Verizon Communications this week:

• Positive Sentiment: Verizon’s year-to-date gains have been supported by improving wireless subscriber trends, lower customer churn, and continued fiber expansion, which are helping the company’s growth outlook. Verizon Shares Rise 17.7% YTD: How Should You Play the Stock?
• Neutral Sentiment: Verizon also held a presentation at MoffettNathanson’s Media, Internet & Communications Conference, which may have reinforced investor focus on its strategy and outlook, but there was no clear new catalyst in the transcript headline alone. Verizon Communications Inc. (VZ) Presents at MoffettNathanson's Media, Internet & Communications Conference Transcript
• Negative Sentiment: One article warned that Verizon’s latest phone plan changes could drive away consumers, adding to worries about customer retention after the company reportedly lost more than 2.25 million customers over the past three years. Verizon’s latest phone plan change may drive away consumers
• Negative Sentiment: Verizon’s debt exchange and tender offers may improve its capital structure over time, but they also highlight the company’s large debt load and ongoing refinancing/integration risk following major acquisition activity. Verizon Debt Moves Reshape Capital Structure And Investor Risk Profile

Analyst Ratings Changes

Several analysts have issued reports on VZ shares. Morgan Stanley lifted their price target on Verizon Communications from $49.00 to $50.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 28th. Wells Fargo & Company lifted 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. Barclays lifted their price target on Verizon Communications from $43.00 to $47.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 31st. Erste Group Bank reissued a "hold" rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Finally, Evercore lifted 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. One investment analyst has rated the stock with a Strong Buy rating, nine have given 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 a consensus target price of $50.59.

Insider Transactions at Verizon Communications

In related news, Director Hans Erik Vestberg sold 200,000 shares of Verizon Communications stock in a transaction dated 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 sale, the director owned 145,069 shares of the company's stock, valued at approximately $7,196,873.09. The trade was a 57.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mary-Lee Stillwell sold 8,569 shares of Verizon Communications stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $50.00, for a total value of $428,450.00. Following the completion of the sale, the senior vice president directly owned 43,782 shares in the company, valued at approximately $2,189,100. This represents a 16.37% decrease in their position. The SEC filing for this sale provides additional information. 0.03% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.