Odyssean LLC Has $1.89 Million Holdings in Verizon Communications Inc. $VZ

Odyssean LLC grew its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 684.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,576 shares of the cell phone carrier's stock after acquiring an additional 38,891 shares during the period. Odyssean LLC's holdings in Verizon Communications were worth $1,887,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Western Wealth Management LLC increased its holdings in shares of Verizon Communications by 1.5% in the second quarter. Western Wealth Management LLC now owns 115,400 shares of the cell phone carrier's stock valued at $4,886,000 after purchasing an additional 1,681 shares in the last quarter. Councilmark Asset Management LLC boosted its position in Verizon Communications by 1.6% in the 2nd quarter. Councilmark Asset Management LLC now owns 14,976 shares of the cell phone carrier's stock valued at $634,000 after buying an additional 240 shares during the last quarter. First Bancorp Inc ME boosted its position in Verizon Communications by 6.9% in the 2nd quarter. First Bancorp Inc ME now owns 19,227 shares of the cell phone carrier's stock valued at $814,000 after buying an additional 1,239 shares during the last quarter. Jupiter Topco LLC acquired a new stake in shares of Verizon Communications in the 2nd quarter valued at $184,260,000. Finally, White Knight Strategic Wealth Advisors LLC increased its stake in shares of Verizon Communications by 14.8% in the 2nd quarter. White Knight Strategic Wealth Advisors LLC now owns 36,865 shares of the cell phone carrier's stock valued at $1,561,000 after buying an additional 4,743 shares during the period. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Trading 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. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.68. The business's 50-day simple moving average is $46.32 and its 200-day simple moving average is $47.48. The stock has a market capitalization of $208.36 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 1.72 and a beta of 0.26.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, beating the consensus estimate 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%. The business's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Sell-side analysts expect that Verizon Communications Inc. will post 5.03 earnings per share for the current fiscal year.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 1,100 shares of Verizon Communications 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 owned 107,666 shares of the company's stock, valued at approximately $5,437,133. This trade represents a 1.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. 0.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VZ. Freedom Capital upgraded shares of Verizon Communications to a "hold" rating in a research report on Friday, June 12th. Barclays increased their price objective 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. 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 note on Monday, July 20th. Scotiabank increased their price target on Verizon Communications from $51.50 to $52.50 and gave the company a "sector outperform" rating in a research note on Monday, July 27th. Finally, TD Cowen lifted their price objective on Verizon Communications from $54.00 to $56.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Eight investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $50.97.

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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