Bleakley Financial Group LLC Has $6.97 Million Stock Position in Verizon Communications Inc. $VZ

Key Points

• Bleakley Financial Group increased its Verizon stake by 44.6% in the fourth quarter, buying an additional 52,801 shares and bringing its holding to 171,133 shares worth about $6.97 million.
• Several other institutional investors also added to Verizon positions, and overall institutional ownership stands at 62.06% of the company’s stock.
• Verizon reported quarterly earnings of $1.28 per share, beating estimates, while analysts currently have a Moderate Buy consensus with an average price target of $50.59.

Bleakley Financial Group LLC boosted its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 44.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 171,133 shares of the cell phone carrier's stock after purchasing an additional 52,801 shares during the period. Bleakley Financial Group LLC's holdings in Verizon Communications were worth $6,970,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Blake Schutter Theil Wealth Advisors LLC boosted its position in Verizon Communications by 3.8% during the fourth 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 last quarter. Triton Wealth Management PLLC boosted its position in Verizon Communications by 2.6% during the fourth 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 last quarter. Clearstead Trust LLC boosted its position in Verizon Communications by 2.5% during the fourth 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 last quarter. CWS Financial Advisors LLC boosted its position in Verizon Communications by 1.7% during the fourth 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 last quarter. Finally, Creative Financial Designs Inc. ADV boosted its position in Verizon Communications by 0.9% during the fourth 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 last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

Insider Transactions at Verizon Communications

In related news, SVP Mary-Lee Stillwell sold 8,569 shares of the business's 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 in the company, valued at $2,189,100. The trade was a 16.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.03% of the stock is owned by corporate insiders.

Verizon Communications Price Performance

NYSE VZ opened at $48.47 on Wednesday. Verizon Communications Inc. has a twelve month low of $38.39 and a twelve month high of $51.68. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.61 and a current ratio of 0.64. The stock has a market capitalization of $202.39 billion, a PE ratio of 11.82, a P/E/G ratio of 1.15 and a beta of 0.24. The stock has a 50-day simple moving average of $48.06 and a 200 day simple moving average of $44.93.

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, topping 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 business had revenue of $34.44 billion during the quarter, compared to analysts' expectations of $34.82 billion. During the same quarter in the previous year, the firm earned $1.19 EPS. The firm'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. Research analysts anticipate that Verizon Communications Inc. will post 4.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on VZ shares. Citigroup boosted their price target on Verizon Communications from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. Dbs Bank cut Verizon Communications from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Royal Bank Of Canada boosted their price target on Verizon Communications from $44.00 to $48.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 3rd. Scotiabank raised Verizon Communications from a "sector perform" rating to a "sector outperform" rating and boosted their price target for the stock from $50.25 to $54.50 in a research report on Monday, March 9th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $56.00 price target on shares of Verizon Communications in a research report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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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