Verizon Communications Inc. $VZ Shares Bought by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB increased its Verizon stake by 3.3% in the fourth quarter, adding 52,077 shares to reach 1,631,793 shares valued at about $66.5 million.
• Verizon reported better-than-expected earnings for the latest quarter, posting $1.28 EPS versus the $1.21 estimate, while revenue came in at $34.44 billion, slightly below forecasts.
• Analyst sentiment remains cautiously positive, with the stock carrying a “Moderate Buy” consensus and an average price target of $50.59; several firms recently raised ratings or targets.

Handelsbanken Fonder AB boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 3.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,631,793 shares of the cell phone carrier's stock after acquiring an additional 52,077 shares during the quarter. Handelsbanken Fonder AB's holdings in Verizon Communications were worth $66,463,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in VZ. State Street Corp lifted its position in Verizon Communications by 3.5% during the 3rd quarter. State Street Corp now owns 215,490,064 shares of the cell phone carrier's stock worth $9,470,788,000 after acquiring an additional 7,276,809 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Verizon Communications by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier's stock valued at $15,453,058,000 after buying an additional 5,497,598 shares during the period. Capital World Investors lifted its holdings in shares of Verizon Communications by 51.1% in the 3rd quarter. Capital World Investors now owns 14,512,228 shares of the cell phone carrier's stock valued at $637,812,000 after buying an additional 4,905,101 shares during the period. Danske Bank A S acquired a new stake in shares of Verizon Communications in the 3rd quarter valued at approximately $161,346,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Verizon Communications by 50.4% in the 3rd quarter. AQR Capital Management LLC now owns 8,848,766 shares of the cell phone carrier's stock valued at $385,983,000 after buying an additional 2,965,033 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

Shares of VZ stock opened at $46.88 on Tuesday. The stock has a fifty day moving average price of $48.38 and a 200 day moving average price of $44.57. The stock has a market cap of $195.74 billion, a PE ratio of 11.43, a P/E/G ratio of 0.97 and a beta of 0.24. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.61 and a current ratio of 0.64.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.07. The company had revenue of $34.44 billion during the quarter, compared to the consensus estimate of $34.82 billion. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.Verizon Communications's revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Sell-side analysts forecast that Verizon Communications Inc. will post 4.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on VZ shares. William Blair raised Verizon Communications to an "outperform" rating in a report on Monday, February 2nd. Evercore raised their price target on Verizon Communications from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Monday, February 2nd. Weiss Ratings raised Verizon Communications from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, February 5th. JPMorgan Chase & Co. raised their price target on Verizon Communications from $49.00 to $52.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $56.00 price target on shares of Verizon Communications in a report on Thursday, March 12th. One 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's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $50.59.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, Director Hans Erik Vestberg sold 200,000 shares of the firm's stock in a transaction on Tuesday, February 24th. The stock was 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 of the company's stock, valued at approximately $7,196,873.09. This trade represents a 57.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Mary-Lee Stillwell sold 8,569 shares of the firm's stock in a transaction on 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 directly owned 43,782 shares of the company's stock, valued at $2,189,100. The trade was a 16.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.03% of the company's stock.

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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