Shah Wealth Advisors LLC Takes Position in Verizon Communications Inc. $VZ

Key Points

• Shah Wealth Advisors acquired 26,555 Verizon shares worth approximately $1.12 million during the second quarter, joining several other institutional investors that initiated positions. Institutions collectively own 62.06% of Verizon’s stock.
• Verizon exceeded quarterly earnings expectations, reporting $1.30 in EPS versus the $1.27 consensus estimate, although revenue fell 0.7% year over year to $34.25 billion and missed estimates.
• Analyst sentiment remains mixed: Verizon has a consensus “Hold” rating and an average price target of $50.97, while shares recently opened at $50.15. CEO Kyle Malady also sold 1,100 shares under a pre-arranged trading plan.

Shah Wealth Advisors LLC purchased a new position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 26,555 shares of the cell phone carrier's stock, valued at approximately $1,124,000.

Several other large investors also recently bought and sold shares of the business. MW Advisory LLC acquired a new stake in Verizon Communications in the 2nd quarter valued at about $330,000. Maloon Powers Pitre Higgins & Dennehy LLC acquired a new position in shares of Verizon Communications during the 2nd quarter worth approximately $1,260,000. Markowski Investments purchased a new stake in shares of Verizon Communications in the second quarter valued at approximately $383,000. Old Mission Investment Co LLC purchased a new stake in shares of Verizon Communications in the second quarter valued at approximately $2,059,000. Finally, Montgomery Financial Services LLC acquired a new stake in shares of Verizon Communications in the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 62.06% of the company's stock.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 1,100 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $50.50, for a total transaction of $55,550.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 3,300 shares of company stock valued at $164,164. Corporate insiders own 0.03% of the company's stock.

Verizon Communications Stock Down 0.9%

Shares of NYSE:VZ opened at $50.15 on Friday. The company has a market capitalization of $208.36 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.72 and a beta of 0.26. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The business has a 50-day moving average price of $46.32 and a 200 day moving average price of $47.48. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.03. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The company had revenue of $34.25 billion during the quarter, compared to analyst estimates of $35.16 billion. During the same quarter last year, the firm posted $1.22 earnings per share. Verizon Communications's revenue was down .7% compared to the same quarter last year. 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 EPS for the current year.

Analyst Ratings Changes

VZ has been the topic of a number of analyst reports. Scotiabank lifted their price objective on Verizon Communications from $51.50 to $52.50 and gave the stock a "sector outperform" rating in a research report on Monday, July 27th. TD Cowen raised their target price on Verizon Communications from $54.00 to $56.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Morgan Stanley boosted their price target on shares of Verizon Communications from $50.00 to $52.00 and gave the company an "equal weight" rating in a research report on Monday, July 27th. Weiss Ratings reissued a "buy (b)" rating on shares of Verizon Communications in a report on Wednesday, August 26th. Finally, Barclays lifted their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Monday, July 27th. Eight equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Verizon Communications presently has a consensus rating of "Hold" and an average price target 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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