PharVision Advisers LLC Sells 16,601 Shares of Verizon Communications Inc. $VZ

Key Points

• PharVision Advisers LLC sold 16,601 shares of Verizon Communications, reducing its holdings by 74.8%, resulting in ownership of only 5,603 shares valued at approximately $254,000.
• Other institutional investors increased their stakes in Verizon, with notable increases from Bernard Wealth Management Corp. (81% increase) and Cherry Tree Wealth Management LLC (71.8% increase).
• Verizon recently reported earnings of $1.22 per share, exceeding estimates, and raised its FY 2025 EPS guidance to a range of 4.636-4.728.

PharVision Advisers LLC cut its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 74.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,603 shares of the cell phone carrier's stock after selling 16,601 shares during the period. PharVision Advisers LLC's holdings in Verizon Communications were worth $254,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sargent Investment Group LLC grew its position in shares of Verizon Communications by 3.3% in the first quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier's stock valued at $323,000 after purchasing an additional 230 shares during the last quarter. Crescent Sterling Ltd. raised its stake in Verizon Communications by 0.8% in the 1st quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier's stock worth $1,402,000 after purchasing an additional 235 shares in the last quarter. Providence Capital Advisors LLC boosted its holdings in Verizon Communications by 0.3% in the 1st quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier's stock valued at $3,637,000 after purchasing an additional 240 shares during the period. Bernard Wealth Management Corp. grew its position in shares of Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after purchasing an additional 243 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC increased its holdings in shares of Verizon Communications by 71.8% during the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after purchasing an additional 244 shares during the period. Institutional investors and hedge funds own 62.06% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on VZ shares. The Goldman Sachs Group initiated coverage on Verizon Communications in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Wall Street Zen upgraded shares of Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley increased their price target on Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $47.65.

Verizon Communications Trading Up 0.3%

Shares of Verizon Communications stock traded up $0.14 during trading on Friday, hitting $44.32. The company's stock had a trading volume of 13,401,383 shares, compared to its average volume of 15,051,414. The stock has a market cap of $186.88 billion, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 3.42 and a beta of 0.36. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The stock has a 50-day moving average price of $43.20 and a two-hundred day moving average price of $43.36. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping the consensus estimate of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The firm had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. During the same period in the previous year, the business earned $1.15 EPS. The business's quarterly revenue was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).