International Assets Investment Management LLC Purchases 29,503 Shares of Verizon Communications Inc. $VZ

International Assets Investment Management LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 28.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 131,647 shares of the cell phone carrier's stock after buying an additional 29,503 shares during the period. International Assets Investment Management LLC's holdings in Verizon Communications were worth $5,362,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of VZ. Holos Integrated Wealth LLC bought a new position in Verizon Communications during the fourth quarter worth $28,000. Foster Dykema Cabot & Partners LLC bought a new position in Verizon Communications during the third quarter worth $29,000. EQ Wealth Advisors LLC acquired a new stake in Verizon Communications in the fourth quarter worth $29,000. Daytona Street Capital LLC acquired a new stake in Verizon Communications in the fourth quarter worth $33,000. Finally, Accordant Advisory Group Inc grew its holdings in Verizon Communications by 152.9% in the fourth quarter. Accordant Advisory Group Inc now owns 827 shares of the cell phone carrier's stock worth $34,000 after purchasing an additional 500 shares during the period. Institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Performance

NYSE VZ opened at $47.10 on Friday. The company's 50 day moving average is $48.81 and its 200-day moving average is $44.20. 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 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.38. The firm has a market cap of $196.66 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 1.00 and a beta of 0.24.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.07. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The company had revenue of $34.44 billion for the quarter, compared to analyst estimates of $34.82 billion. During the same quarter in the previous year, the firm posted $1.19 earnings per share. The company's quarterly 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. Sell-side analysts predict that Verizon Communications Inc. will post 4.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VZ. Scotiabank upgraded shares of Verizon Communications from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the company from $50.25 to $54.50 in a report on Monday, March 9th. Morgan Stanley lifted their price objective on shares of Verizon Communications from $49.00 to $50.00 and gave the company an "equal weight" rating in a report on Tuesday, April 28th. Wells Fargo & Company lifted their price objective on shares of Verizon Communications from $44.00 to $46.00 and gave the company an "equal weight" rating in a report on Tuesday, April 28th. Williams Trading set a $54.00 price objective on shares of Verizon Communications in a report on Monday, February 2nd. Finally, Weiss Ratings upgraded shares of Verizon Communications from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Verizon Communications has an average rating of "Moderate Buy" and an average price target of $50.59.

Insider Activity at Verizon Communications

In other 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 sale, the director owned 145,069 shares of the company's stock, valued at $7,196,873.09. The trade was a 57.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mary-Lee Stillwell sold 8,569 shares of the business'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 transaction of $428,450.00. Following the completion of the sale, the senior vice president directly owned 43,782 shares in the company, valued at approximately $2,189,100. This trade represents a 16.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.03% of the company's stock.

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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