Rayburn West Financial Services LLC Takes Position in Verizon Communications Inc. $VZ

Key Points

• Rayburn West Financial Services initiated a new position in Verizon Communications during the fourth quarter, buying 31,248 shares worth about $1.27 million.
• Verizon’s latest quarterly results topped earnings expectations, with EPS of $1.28 versus the $1.21 estimate, while revenue rose 2.7% year over year to $34.44 billion.
• Analyst sentiment remains mixed but constructive overall: the stock has a Moderate Buy consensus rating and an average price target of $50.59, even as some insiders recently sold shares.

Rayburn West Financial Services LLC acquired a new stake in Verizon Communications Inc. (NYSE:VZ - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 31,248 shares of the cell phone carrier's stock, valued at approximately $1,273,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Catalyst Financial Partners LLC raised its holdings in shares of Verizon Communications by 13.7% in the 4th quarter. Catalyst Financial Partners LLC now owns 22,392 shares of the cell phone carrier's stock valued at $912,000 after purchasing an additional 2,696 shares in the last quarter. Biltmore Family Office LLC raised its holdings in shares of Verizon Communications by 8.0% in the 4th quarter. Biltmore Family Office LLC now owns 11,443 shares of the cell phone carrier's stock valued at $466,000 after purchasing an additional 851 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Verizon Communications by 3.1% in the 4th quarter. Pacer Advisors Inc. now owns 10,297,784 shares of the cell phone carrier's stock valued at $419,429,000 after purchasing an additional 307,658 shares in the last quarter. Bridgewealth Advisory Group LLC raised its holdings in shares of Verizon Communications by 5.3% in the 4th quarter. Bridgewealth Advisory Group LLC now owns 9,648 shares of the cell phone carrier's stock valued at $393,000 after purchasing an additional 484 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. raised its holdings in shares of Verizon Communications by 16.3% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 157,849 shares of the cell phone carrier's stock valued at $6,429,000 after purchasing an additional 22,112 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $47.19 on Thursday. The company's fifty day moving average price is $48.64 and its 200 day moving average price is $44.41. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.64 and a quick ratio of 0.61. The firm has a market capitalization of $197.05 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.01 and a beta of 0.24.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results 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 net margin of 12.46% and a return on equity of 19.25%. The firm had revenue of $34.44 billion for the quarter, compared to analyst estimates of $34.82 billion. During the same period last year, the business earned $1.19 EPS. Verizon Communications's revenue for the quarter was up 2.7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Raymond James Financial restated an "outperform" rating and issued a $56.00 price objective on shares of Verizon Communications in a report on Thursday, March 12th. Williams Trading set a $54.00 price objective on shares of Verizon Communications in a report on Monday, February 2nd. Royal Bank Of Canada lifted their price target on shares of Verizon Communications from $44.00 to $48.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 3rd. Erste Group Bank reiterated a "hold" rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Finally, Weiss Ratings upgraded shares of Verizon Communications from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.59.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, SVP Mary-Lee Stillwell sold 8,569 shares of Verizon Communications stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $50.00, for a total value of $428,450.00. Following the transaction, the senior vice president directly owned 43,782 shares in the company, valued at approximately $2,189,100. The trade was a 16.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hans Erik Vestberg sold 200,000 shares of Verizon Communications stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $49.61, for a total transaction of $9,922,000.00. Following the completion of the transaction, the director owned 145,069 shares in the company, valued at approximately $7,196,873.09. This represents a 57.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.03% of the stock is owned by company insiders.

Key Verizon Communications News

Here are the key news stories impacting Verizon Communications this week:

• Positive Sentiment: Verizon’s year-to-date gains have been supported by improving wireless subscriber trends, lower customer churn, and continued fiber expansion, which are helping the company’s growth outlook. Verizon Shares Rise 17.7% YTD: How Should You Play the Stock?
• Neutral Sentiment: Verizon also held a presentation at MoffettNathanson’s Media, Internet & Communications Conference, which may have reinforced investor focus on its strategy and outlook, but there was no clear new catalyst in the transcript headline alone. Verizon Communications Inc. (VZ) Presents at MoffettNathanson's Media, Internet & Communications Conference Transcript
• Negative Sentiment: One article warned that Verizon’s latest phone plan changes could drive away consumers, adding to worries about customer retention after the company reportedly lost more than 2.25 million customers over the past three years. Verizon’s latest phone plan change may drive away consumers
• Negative Sentiment: Verizon’s debt exchange and tender offers may improve its capital structure over time, but they also highlight the company’s large debt load and ongoing refinancing/integration risk following major acquisition activity. Verizon Debt Moves Reshape Capital Structure And Investor Risk Profile

About Verizon Communications

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.