NEOS Investment Management LLC Grows Stock Holdings in Verizon Communications Inc. $VZ

Key Points

• NEOS Investment Management increased its Verizon stake by 11% in the second quarter, acquiring 68,482 additional shares and bringing its holdings to 689,071 shares valued at approximately $29.2 million. Institutional investors collectively own 62.06% of Verizon.
• Analyst sentiment remains mixed, with Verizon carrying a consensus “Hold” rating and an average price target of $50.97. Recent targets ranged from $44 to $56, including a “Buy” rating from TD Cowen.
• Verizon shares opened at $50.15, near their 52-week high, after the company reported quarterly EPS of $1.30—above expectations—but revenue of $34.25 billion declined 0.7% year over year and fell short of forecasts.

NEOS Investment Management LLC grew its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 11.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 689,071 shares of the cell phone carrier's stock after acquiring an additional 68,482 shares during the period. NEOS Investment Management LLC's holdings in Verizon Communications were worth $29,175,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Verizon Communications by 61.2% in the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock worth $1,759,000 after buying an additional 16,704 shares during the period. United Bank increased its stake in shares of Verizon Communications by 11.5% during the second quarter. United Bank now owns 7,843 shares of the cell phone carrier's stock valued at $339,000 after buying an additional 806 shares during the period. Jump Financial LLC raised its holdings in shares of Verizon Communications by 312.0% during the second quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier's stock valued at $1,023,000 after acquiring an additional 17,901 shares in the last quarter. HUB Investment Partners LLC lifted its stake in Verizon Communications by 17.2% in the second quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier's stock worth $1,779,000 after acquiring an additional 6,034 shares during the period. Finally, Vivaldi Capital Management LP lifted its stake in Verizon Communications by 5.2% in the second quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier's stock worth $389,000 after acquiring an additional 443 shares during the period. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Verizon Communications

In other news, CEO Kyle Malady sold 1,100 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $50.50, for a total value of $55,550.00. Following the sale, the chief executive officer directly owned 107,666 shares of the company's stock, valued at $5,437,133. The trade was a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 3,300 shares of company stock valued at $164,164. Insiders own 0.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on VZ shares. Moffett Nathanson reduced their price objective on shares of Verizon Communications from $56.00 to $49.00 and set a "neutral" rating on the stock in a research report on Monday, July 20th. BNP Paribas Exane dropped their target price on shares of Verizon Communications from $46.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, July 14th. Freedom Capital raised shares of Verizon Communications to a "hold" rating in a research note on Friday, June 12th. Wells Fargo & Company increased their price target on shares of Verizon Communications from $43.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Monday, July 27th. Finally, TD Cowen raised their price objective on shares of Verizon Communications from $54.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Eight research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, Verizon Communications has a consensus rating of "Hold" and a consensus price target of $50.97.

Verizon Communications Stock Down 0.9%

NYSE:VZ opened at $50.15 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.60 and a quick ratio of 0.57. The firm's 50-day moving average price is $46.32 and its 200-day moving average price is $47.48. The company has a market capitalization of $208.36 billion, a PE ratio of 13.06, a P/E/G ratio of 1.72 and a beta of 0.26. Verizon Communications Inc. has a 1-year low of $38.39 and a 1-year high of $51.68.

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

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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