Harbour Investments Inc. Acquires 47,727 Shares of Verizon Communications Inc. $VZ

Key Points

• Harbour Investments Inc. increased its Verizon stake by 28.5% in the fourth quarter, buying 47,727 additional shares and bringing its total holding to 215,247 shares worth about $8.77 million.
• Verizon reported better-than-expected earnings of $1.28 per share, topping estimates, while revenue rose 2.7% year over year to $34.44 billion.
• Wall Street remains cautiously positive on the stock, with a consensus rating of “Moderate Buy” and an average target price of $50.59, while analysts expect about $4.96 EPS for the current year.

Harbour Investments Inc. lifted its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 28.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 215,247 shares of the cell phone carrier's stock after buying an additional 47,727 shares during the quarter. Harbour Investments Inc.'s holdings in Verizon Communications were worth $8,767,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in VZ. State Street Corp raised its holdings in shares of Verizon Communications by 3.5% in the third quarter. State Street Corp now owns 215,490,064 shares of the cell phone carrier's stock valued at $9,470,788,000 after buying an additional 7,276,809 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Verizon Communications by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier's stock valued at $15,453,058,000 after buying an additional 5,497,598 shares during the last quarter. Capital World Investors raised its holdings in shares of Verizon Communications by 51.1% in the third quarter. Capital World Investors now owns 14,512,228 shares of the cell phone carrier's stock valued at $637,812,000 after buying an additional 4,905,101 shares during the last quarter. Danske Bank A S bought a new position in shares of Verizon Communications in the third quarter valued at about $161,346,000. Finally, AQR Capital Management LLC raised its holdings in shares of Verizon Communications by 50.4% in the third quarter. AQR Capital Management LLC now owns 8,848,766 shares of the cell phone carrier's stock valued at $385,983,000 after buying an additional 2,965,033 shares during the last quarter. 62.06% of the stock is owned by institutional investors.

Verizon Communications Price Performance

Verizon Communications stock opened at $48.43 on Tuesday. The firm has a market capitalization of $202.23 billion, a P/E ratio of 11.81, a PEG ratio of 1.15 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 business has a 50-day moving average of $48.12 and a 200-day moving average of $44.87. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38.

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

Wall Street Analysts Forecast Growth

VZ has been the subject of several recent research reports. Sanford C. Bernstein reissued a "market perform" rating and set a $48.00 price objective on shares of Verizon Communications in a report on Monday, February 2nd. Barclays boosted their price objective on Verizon Communications from $43.00 to $47.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 31st. Wells Fargo & Company boosted their price objective on Verizon Communications from $44.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 28th. Oppenheimer boosted their price objective on Verizon Communications from $50.00 to $56.00 and gave the stock an "outperform" rating in a report on Wednesday, March 11th. Finally, Royal Bank Of Canada boosted their price objective on Verizon Communications from $44.00 to $48.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned 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 a consensus target price of $50.59.

Insider Activity

In other 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 completion of the transaction, the senior vice president directly owned 43,782 shares in the company, valued at approximately $2,189,100. The trade was a 16.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.03% of the company's stock.

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.

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