Verizon Communications Inc. $VZ Shares Purchased by Saudi Central Bank

Key Points

• Saudi Central Bank increased its Verizon stake by 88% in the second quarter, purchasing 136,968 additional shares and bringing its holdings to 292,601 shares valued at approximately $12.4 million. Institutional investors collectively own 62.06% of Verizon.
• Verizon reported quarterly EPS of $1.30, beating estimates of $1.27, while revenue of $34.25 billion fell short of the $35.16 billion consensus and declined 0.7% year over year. The company maintained fiscal 2026 EPS guidance of $4.99–$5.04.
• Analysts maintain a consensus “Hold” rating, with an average price target of $50.97. Verizon shares recently opened at $50.15, near their 12-month high of $51.68, while CEO Kyle Malady sold 1,100 shares under a pre-arranged trading plan.

Saudi Central Bank raised its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 88.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 292,601 shares of the cell phone carrier's stock after purchasing an additional 136,968 shares during the quarter. Saudi Central Bank's holdings in Verizon Communications were worth $12,389,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RKL Wealth Management LLC boosted its stake in shares of Verizon Communications by 4.3% in the first quarter. RKL Wealth Management LLC now owns 5,338 shares of the cell phone carrier's stock valued at $268,000 after buying an additional 218 shares in the last quarter. Manchester Financial Inc. raised its position in Verizon Communications by 0.6% in the second quarter. Manchester Financial Inc. now owns 34,924 shares of the cell phone carrier's stock worth $1,479,000 after acquiring an additional 218 shares in the last quarter. Strategic Investment Solutions Inc. IL lifted its holdings in Verizon Communications by 8.6% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 2,765 shares of the cell phone carrier's stock valued at $113,000 after acquiring an additional 219 shares during the period. Frazier Financial Advisors LLC lifted its holdings in Verizon Communications by 32.7% in the first quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier's stock valued at $45,000 after acquiring an additional 219 shares during the period. Finally, FAS Wealth Partners Inc. boosted its position in shares of Verizon Communications by 1.2% during the 1st quarter. FAS Wealth Partners Inc. now owns 18,421 shares of the cell phone carrier's stock worth $925,000 after purchasing an additional 223 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Stock Performance

NYSE:VZ opened at $50.15 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36. The firm has a 50-day moving average price of $46.32 and a two-hundred day moving average price of $47.48. Verizon Communications Inc. has a twelve month low of $38.39 and a twelve month high of $51.68. The company has a market capitalization of $208.36 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 1.70 and a beta of 0.26.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.03. The company had revenue of $34.25 billion for the quarter, compared to the consensus estimate of $35.16 billion. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The company's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, research analysts expect that Verizon Communications Inc. will post 5.03 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Kyle Malady sold 1,100 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $50.50, for a total value of $55,550.00. Following the sale, the chief executive officer owned 107,666 shares of the company's stock, valued at approximately $5,437,133. This represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 3,300 shares of company stock worth $164,164. Insiders own 0.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on VZ shares. Wells Fargo & Company increased their price target on shares of Verizon Communications from $43.00 to $47.00 and gave the company an "equal weight" rating in a report on Monday, July 27th. Freedom Capital upgraded shares of Verizon Communications to a "hold" rating in a research report on Friday, June 12th. Weiss Ratings reiterated a "buy (b)" rating on shares of Verizon Communications in a research report on Wednesday, August 26th. Barclays boosted their price target on Verizon Communications from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Monday, July 27th. Finally, Moffett Nathanson lowered their price target on Verizon Communications from $56.00 to $49.00 and set a "neutral" rating on the stock in a report on Monday, July 20th. Eight analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat, 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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