Intech Investment Management LLC Has $8.78 Million Position in Verizon Communications Inc. $VZ

Key Points

• Intech Investment Management increased its Verizon stake by 58.6% in the fourth quarter, owning 215,575 shares valued at about $8.78 million after adding 79,680 shares.
• Verizon reported better-than-expected earnings for the quarter, with EPS of $1.28 versus estimates of $1.21, though revenue of $34.44 billion slightly missed forecasts.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $50.59; Verizon shares recently traded around $47.84.

Intech Investment Management LLC boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 58.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,575 shares of the cell phone carrier's stock after acquiring an additional 79,680 shares during the quarter. Intech Investment Management LLC's holdings in Verizon Communications were worth $8,780,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Houlihan Financial Resource Group Ltd. raised its stake in Verizon Communications by 91.2% during the fourth quarter. Houlihan Financial Resource Group Ltd. now owns 13,570 shares of the cell phone carrier's stock worth $571,000 after acquiring an additional 6,473 shares in the last quarter. Corrado Advisors LLC increased its stake in shares of Verizon Communications by 52.8% in the fourth quarter. Corrado Advisors LLC now owns 49,369 shares of the cell phone carrier's stock valued at $2,011,000 after buying an additional 17,051 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in shares of Verizon Communications by 19.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 383,281 shares of the cell phone carrier's stock valued at $15,611,000 after buying an additional 62,461 shares in the last quarter. Godfrey Financial Associates Inc. acquired a new stake in shares of Verizon Communications in the fourth quarter valued at $175,000. Finally, IFG Advisory LLC increased its stake in shares of Verizon Communications by 3.8% in the fourth quarter. IFG Advisory LLC now owns 138,023 shares of the cell phone carrier's stock valued at $5,622,000 after buying an additional 5,066 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Price Performance

Shares of VZ stock opened at $47.84 on Friday. The stock has a 50-day moving average price of $47.93 and a 200 day moving average price of $45.07. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.38. The firm has a market cap of $199.78 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.15 and a beta of 0.24. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.07. The firm 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 was up 2.7% on a year-over-year basis. During the same period last year, the company earned $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Research analysts expect that Verizon Communications Inc. will post 4.96 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on VZ shares. Oppenheimer raised their target price on Verizon Communications from $50.00 to $56.00 and gave the company an "outperform" rating in a research note on Wednesday, March 11th. Barclays raised their target price 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. Williams Trading set a $54.00 target price on Verizon Communications in a research note on Monday, February 2nd. JPMorgan Chase & Co. raised their target price on Verizon Communications from $49.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada raised their target price on Verizon Communications from $44.00 to $48.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 3rd. One investment 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $50.59.

Insider Buying and Selling

In related news, SVP Mary-Lee Stillwell sold 8,569 shares of Verizon Communications stock in a transaction dated Monday, March 2nd. The stock was 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 $2,189,100. This trade represents a 16.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.03% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ - Free Report).

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.