Verizon Communications Inc. $VZ Shares Purchased by Kestra Investment Management LLC

Key Points

• Kestra Investment Management LLC significantly increased its position in Verizon shares by 121.8%, now owning 176,531 shares valued at approximately $8 million.
• Verizon recently reported earnings per share (EPS) of $1.22 for the last quarter, exceeding analyst estimates by $0.03, with total revenue reaching $34.5 billion.
• Multiple analysts have adjusted their price targets for Verizon, with Morgan Stanley setting a new target of $48.00 and Bank of America increasing theirs to $49.00, reflecting a generally positive outlook for the stock.

Kestra Investment Management LLC raised its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 121.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 176,531 shares of the cell phone carrier's stock after buying an additional 96,931 shares during the quarter. Kestra Investment Management LLC's holdings in Verizon Communications were worth $8,007,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bernard Wealth Management Corp. raised its stake in Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after buying an additional 243 shares in the last quarter. Garde Capital Inc. acquired a new stake in Verizon Communications during the first quarter valued at approximately $26,000. Cherry Tree Wealth Management LLC raised its stake in 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 valued at $26,000 after buying an additional 244 shares in the last quarter. 1 North Wealth Services LLC acquired a new stake in Verizon Communications during the first quarter valued at approximately $29,000. Finally, Accent Capital Management LLC acquired a new stake in Verizon Communications during the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Stock Performance

Shares of VZ stock opened at $44.32 on Friday. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The firm has a market capitalization 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. The business has a 50 day simple moving average of $43.20 and a 200 day simple moving average 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 issued its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The business had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. During the same period in the prior year, the company posted $1.15 EPS. The business's revenue for the quarter 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. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Analysts Set New Price Targets

VZ has been the topic of several research reports. Morgan Stanley upped their price objective 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. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada increased their price target on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 22nd. Bank of America increased their price target on Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $47.65.

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).

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