Todd Asset Management LLC Trims Holdings in Verizon Communications Inc. $VZ

Key Points

• Todd Asset Management cut its Verizon stake by 33.1% in the fourth quarter, selling 230,292 shares and leaving it with 466,054 shares worth about $18.98 million.
• Verizon’s latest quarterly results beat EPS expectations, posting $1.28 per share versus $1.21 expected, though revenue of $34.44 billion came in slightly below estimates.
• Analyst sentiment remains mixed but generally positive, with Verizon carrying a Moderate Buy consensus and an average price target of $50.59.

Todd Asset Management LLC lowered its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 33.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 466,054 shares of the cell phone carrier's stock after selling 230,292 shares during the period. Todd Asset Management LLC's holdings in Verizon Communications were worth $18,982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC increased its holdings in shares of Verizon Communications by 61.2% during the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock worth $1,759,000 after buying an additional 16,704 shares during the last quarter. United Bank grew its position in Verizon Communications by 11.5% in the second quarter. United Bank now owns 7,843 shares of the cell phone carrier's stock worth $339,000 after acquiring an additional 806 shares during the period. Jump Financial LLC grew its position in Verizon Communications by 312.0% in the second quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier's stock worth $1,023,000 after acquiring an additional 17,901 shares during the period. HUB Investment Partners LLC increased its stake in Verizon Communications by 17.2% during the second quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier's stock worth $1,779,000 after acquiring an additional 6,034 shares during the last quarter. Finally, Vivaldi Capital Management LP raised its position in Verizon Communications by 5.2% in the second quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier's stock valued at $389,000 after purchasing an additional 443 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Verizon Communications

In related news, SVP Mary-Lee Stillwell sold 8,569 shares of the business's 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 transaction, the senior vice president owned 43,782 shares in the company, valued at $2,189,100. The trade was a 16.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.03% of the company's stock.

Analysts Set New Price Targets

VZ has been the topic of several recent analyst reports. Williams Trading set a $54.00 price target on Verizon Communications in a research note on Monday, February 2nd. William Blair upgraded shares of Verizon Communications to an "outperform" rating in a report on Monday, February 2nd. Dbs Bank cut shares of Verizon Communications from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Raymond James Financial reissued an "outperform" rating and issued a $56.00 target price on shares of Verizon Communications in a research report on Thursday, March 12th. Finally, Sanford C. Bernstein reiterated a "market perform" rating and issued a $48.00 price target on shares of Verizon Communications in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $50.59.

Verizon Communications Stock Up 0.2%

Shares of NYSE:VZ opened at $48.43 on Tuesday. The firm has a 50 day simple moving average of $48.12 and a 200-day simple moving average of $44.87. Verizon Communications Inc. has a twelve month low of $38.39 and a twelve month high of $51.68. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $202.23 billion, a PE ratio of 11.81, a P/E/G ratio of 1.15 and a beta of 0.24.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (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 for the quarter, compared to analyst estimates of $34.82 billion. During the same quarter last year, the company posted $1.19 earnings per share. The business's quarterly revenue 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. On average, equities analysts predict that Verizon Communications Inc. will post 4.96 EPS 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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