Norges Bank Takes $2.36 Billion Position in Verizon Communications Inc. $VZ

Key Points

• Norges Bank disclosed a new position in Verizon Communications, buying 57.9 million shares worth about $2.36 billion in the fourth quarter. The stake represented roughly 1.37% of Verizon at quarter-end.
• Verizon reported quarterly earnings of $1.28 per share, beating analyst estimates, while revenue rose 2.7% year over year to $34.44 billion. The company also reaffirmed FY 2026 EPS guidance of 4.950 to 4.990.
• Wall Street sentiment remains cautiously positive, with multiple analysts raising price targets and the stock carrying a Moderate Buy consensus and average target price of $50.59. In insider activity, SVP Mary-Lee Stillwell sold 8,569 shares, trimming her position by 16.37%.

Norges Bank bought a new stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 57,872,767 shares of the cell phone carrier's stock, valued at approximately $2,357,158,000. Norges Bank owned approximately 1.37% of Verizon Communications at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Blake Schutter Theil Wealth Advisors LLC boosted its holdings in shares of Verizon Communications by 3.8% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 6,305 shares of the cell phone carrier's stock valued at $257,000 after buying an additional 233 shares in the last quarter. Triton Wealth Management PLLC boosted its holdings in shares of Verizon Communications by 2.6% during the 4th quarter. Triton Wealth Management PLLC now owns 9,257 shares of the cell phone carrier's stock valued at $377,000 after buying an additional 234 shares in the last quarter. Clearstead Trust LLC boosted its holdings in shares of Verizon Communications by 2.5% during the 4th quarter. Clearstead Trust LLC now owns 9,788 shares of the cell phone carrier's stock valued at $399,000 after buying an additional 240 shares in the last quarter. CWS Financial Advisors LLC raised its position in shares of Verizon Communications by 1.7% in the 4th quarter. CWS Financial Advisors LLC now owns 14,891 shares of the cell phone carrier's stock worth $607,000 after purchasing an additional 246 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV raised its position in shares of Verizon Communications by 0.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 27,471 shares of the cell phone carrier's stock worth $1,119,000 after purchasing an additional 248 shares during the last quarter. Institutional investors own 62.06% of the company's stock.

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 approximately $2,189,100. This trade represents a 16.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.03% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup lifted their price target on Verizon Communications from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. Scotiabank raised Verizon Communications from a "sector perform" rating to a "sector outperform" rating and lifted their price target for the stock from $50.25 to $54.50 in a research report on Monday, March 9th. Barclays lifted their price target on Verizon Communications from $43.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 31st. Wells Fargo & Company lifted their price target on Verizon Communications from $44.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 28th. Finally, William Blair raised Verizon Communications to an "outperform" rating in a research report on Monday, February 2nd. One research 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 company's stock. According to data from MarketBeat.com, Verizon Communications currently has a consensus rating of "Moderate Buy" and an average target price of $50.59.

Verizon Communications Price Performance

VZ opened at $47.84 on Friday. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. The stock has a 50-day moving average price of $47.93 and a 200-day moving average price of $45.07. The firm has a market cap of $199.78 billion, a PE ratio of 11.67, a P/E/G ratio of 1.15 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 EPS for the quarter, topping the consensus estimate of $1.21 by $0.07. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The company had revenue of $34.44 billion during the quarter, compared to the consensus estimate of $34.82 billion. During the same period last year, the company earned $1.19 EPS. Verizon Communications's revenue for the quarter was up 2.7% on a year-over-year basis. 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 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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