Maloon Powers Pitre Higgins & Dennehy LLC Invests $1.26 Million in Verizon Communications Inc. $VZ

Key Points

• Maloon Powers Pitre Higgins & Dennehy LLC acquired 29,758 Verizon shares worth approximately $1.26 million during the second quarter. Institutional investors collectively own 62.06% of Verizon’s stock.
• Analyst sentiment remains mixed, with eight Buy ratings and twelve Hold ratings. Verizon has an average consensus rating of Hold and a consensus price target of $50.97.
• Verizon’s latest quarterly earnings beat expectations, reporting $1.30 in EPS versus a $1.27 estimate, though revenue of $34.25 billion fell short of forecasts and declined 0.7% year over year.

Maloon Powers Pitre Higgins & Dennehy LLC bought a new stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 29,758 shares of the cell phone carrier's stock, valued at approximately $1,260,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Markowski Investments bought a new position in Verizon Communications in the second quarter worth about $383,000. Old Mission Investment Co LLC bought a new stake in Verizon Communications during the 2nd quarter valued at approximately $2,059,000. Montgomery Financial Services LLC bought a new stake in Verizon Communications during the 2nd quarter valued at approximately $47,000. OceanIQ Capital LLC purchased a new position in shares of Verizon Communications during the 2nd quarter worth approximately $528,000. Finally, Highland Investment Advisors LLC purchased a new position in shares of Verizon Communications during the 2nd quarter worth approximately $95,000. Hedge funds and other institutional investors own 62.06% of the company's stock.

Analyst Upgrades and Downgrades

VZ has been the subject of a number of research analyst reports. Moffett Nathanson lowered their target price on Verizon Communications from $56.00 to $49.00 and set a "neutral" rating for the company in a research note on Monday, July 20th. Royal Bank Of Canada upped their price target on Verizon Communications from $46.00 to $47.00 and gave the stock a "sector perform" rating in a research note on Monday, July 27th. BNP Paribas Exane decreased their price objective on Verizon Communications from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, July 14th. Scotiabank raised their price objective on Verizon Communications from $51.50 to $52.50 and gave the company a "sector outperform" rating in a research report on Monday, July 27th. Finally, Barclays boosted their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the company an "equal weight" rating in a report on Monday, July 27th. Eight investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $50.97.

Verizon Communications Trading Down 0.9%

NYSE VZ opened at $50.15 on Friday. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36. The stock's fifty day moving average price is $46.32 and its 200-day moving average price is $47.48. The stock has a market cap of $208.36 billion, a P/E ratio of 13.06, a P/E/G ratio of 1.72 and a beta of 0.26.

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

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of Verizon Communications stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $50.50, for a total value of $55,550.00. Following the completion of the transaction, the chief executive officer directly owned 107,666 shares of the company's stock, valued at approximately $5,437,133. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 3,300 shares of company stock worth $164,164. 0.03% of the stock is currently owned by company insiders.

Verizon Communications 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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