California State Teachers Retirement System Buys 264,776,704 Shares of Verizon Communications Inc. $VZ

California State Teachers Retirement System grew its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 4,016.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 271,369,762 shares of the cell phone carrier's stock after acquiring an additional 264,776,704 shares during the quarter. California State Teachers Retirement System owned 6.53% of Verizon Communications worth $11,489,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in VZ. Ameritas Advisory Services LLC boosted its holdings in shares of Verizon Communications by 3.5% in the 2nd quarter. Ameritas Advisory Services LLC now owns 105,039 shares of the cell phone carrier's stock worth $4,447,000 after buying an additional 3,601 shares during the last quarter. Straight Path Wealth Management increased its holdings in Verizon Communications by 4.7% during the second quarter. Straight Path Wealth Management now owns 6,331 shares of the cell phone carrier's stock worth $268,000 after buying an additional 282 shares during the last quarter. Wedmont Private Capital raised its position in Verizon Communications by 1.4% in the second quarter. Wedmont Private Capital now owns 34,629 shares of the cell phone carrier's stock worth $1,459,000 after acquiring an additional 463 shares during the period. Kintra Wealth LLC raised its position in Verizon Communications by 5.7% in the second quarter. Kintra Wealth LLC now owns 47,878 shares of the cell phone carrier's stock worth $2,027,000 after acquiring an additional 2,585 shares during the period. Finally, Operose Advisors LLC raised its position in Verizon Communications by 1.5% in the second quarter. Operose Advisors LLC now owns 20,964 shares of the cell phone carrier's stock worth $888,000 after acquiring an additional 304 shares during the period. Institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Performance

NYSE VZ opened at $50.40 on Wednesday. The company's 50 day moving average is $46.61 and its 200-day moving average is $47.50. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36. The firm has a market cap of $209.40 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 1.70 and a beta of 0.26.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, topping the consensus estimate of $1.27 by $0.03. The company had revenue of $34.25 billion during the quarter, compared to the consensus estimate of $35.16 billion. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. Verizon Communications's revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the firm earned $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Sell-side analysts predict that Verizon Communications Inc. will post 5.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on VZ shares. TD Cowen increased their target price on shares of Verizon Communications from $54.00 to $56.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Barclays lifted their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an "equal weight" rating in a report on Monday, July 27th. Morgan Stanley upped their price objective on Verizon Communications from $50.00 to $52.00 and gave the company an "equal weight" rating in a research note on Monday, July 27th. Royal Bank Of Canada increased their price objective on Verizon Communications from $46.00 to $47.00 and gave the company a "sector perform" rating in a report on Monday, July 27th. Finally, Scotiabank raised their target price on Verizon Communications from $51.50 to $52.50 and gave the stock a "sector outperform" rating in a research report 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $50.97.

Insider Activity

In related news, CEO Kyle Malady sold 1,100 shares of the business's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $50.50, for a total transaction of $55,550.00. Following the sale, the chief executive officer directly owned 107,666 shares in the company, valued at approximately $5,437,133. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 3,300 shares of company stock worth $164,164. Insiders own 0.03% of the company's stock.

Key Stories Impacting Verizon Communications

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

• Positive Sentiment: Verizon signed a multibillion-dollar supply agreement with Corning for high-density optical fiber running through 2032. The commitment is intended to expand broadband access and strengthen infrastructure for rising AI-related data traffic, providing greater long-term visibility for Verizon’s network buildout. Verizon signs optical fiber deal with Corning to expand broadband, support AI growth
• Positive Sentiment: The agreement reportedly covers approximately 80 million miles of fiber and could help Verizon meet growing demand for consumer broadband, business connectivity and converged services. Investors may view the deal as supporting customer growth and reinforcing Verizon’s competitive position in infrastructure tied to AI demand. Verizon Just Locked In 80 Million Miles of Fiber Through 2032
• Neutral Sentiment: The deal’s strategic benefits are clear, but the articles do not disclose its precise financial terms. Verizon will likely need to commit substantial capital and operating resources, so the effect on margins, free cash flow and returns will depend on execution and broadband subscriber growth. Verizon, Corning Reach Multi-Billion Dollar Agreement for Broadband Expansion
• Negative Sentiment: Some market commentary points to investors rotating away from defensive, high-yield telecommunications stocks after Verizon’s strong run. Brokerages maintain a consensus “Hold” recommendation, suggesting much of the recent recovery may already be reflected in the share price. Shift Away from Defensive Plays Hits Verizon Communications

Verizon Communications Company Profile

Verizon Communications Inc is a telecommunications company that provides wireless communications, broadband, and related technology services. Its offerings include mobile voice and data plans, 5G connectivity, fixed wireless access, fiber-optic internet through Verizon Fios, home services, and connected-device solutions.

Through Verizon Business, the company serves enterprises, government agencies, and other organizations with communications networks, managed connectivity, cybersecurity, cloud and edge-computing services, unified communications, and Internet of Things solutions.

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