HighTower Advisors LLC Increases Stake in Verizon Communications Inc. $VZ

Key Points

• HighTower Advisors LLC increased its Verizon stake by 3.1% in the fourth quarter, adding 202,150 shares and bringing its total holding to 6.68 million shares valued at about $272 million.
• Verizon reported quarterly earnings of $1.28 per share, topping analyst expectations, while revenue came in at $34.44 billion, slightly below estimates but still up 2.7% year over year.
• Analysts remain cautiously positive on the stock, with a Moderate Buy consensus and an average price target of $50.59; meanwhile, some company insiders recently sold shares.

HighTower Advisors LLC boosted its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,678,090 shares of the cell phone carrier's stock after buying an additional 202,150 shares during the period. HighTower Advisors LLC owned 0.16% of Verizon Communications worth $271,999,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of VZ. Foster Dykema Cabot & Partners LLC bought a new position in shares of Verizon Communications in the 3rd quarter worth approximately $29,000. Strengthening Families & Communities LLC grew its stake in Verizon Communications by 490.0% in the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier's stock worth $26,000 after purchasing an additional 539 shares during the period. Holos Integrated Wealth LLC bought a new position in Verizon Communications in the fourth quarter worth $28,000. EQ Wealth Advisors LLC purchased a new position in Verizon Communications during the fourth quarter valued at $29,000. Finally, Richardson Capital Management LLC bought a new stake in shares of Verizon Communications during the 3rd quarter valued at $35,000. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $46.88 on Tuesday. 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 is $48.38 and its 200 day moving average is $44.57. The stock has a market cap of $195.74 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 0.97 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 data on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.07. The business had revenue of $34.44 billion during the quarter, compared to analyst estimates of $34.82 billion. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. Verizon Communications's revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $1.19 EPS. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.96 EPS for the current fiscal year.

Insider Activity at Verizon Communications

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Verizon Communications from $44.00 to $46.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. Citigroup upped their price objective on shares of Verizon Communications from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, March 20th. Royal Bank Of Canada raised their target price on shares of Verizon Communications from $44.00 to $48.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 3rd. Evercore boosted their price target on Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a research report on Monday, February 2nd. Finally, Sanford C. Bernstein restated a "market perform" rating and issued a $48.00 price target on shares of Verizon Communications in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $50.59.

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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