Verizon Communications Inc. $VZ Shares Sold by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada reduced its Verizon position by 9.8% in the second quarter, selling 94,416 shares and retaining 867,206 shares valued at approximately $36.4 million. Institutional investors and hedge funds own 62.06% of Verizon’s stock.
• Analysts maintain a mixed outlook, with Verizon receiving a consensus “Hold” rating and an average price target of $50.97. Recent targets range from $46 to $56, including a “Buy” rating from TD Cowen.
• Verizon shares opened at $50.15, near their 52-week high of $51.68. The company beat quarterly EPS expectations with $1.30 per share, although revenue of $34.25 billion declined 0.7% year over year and missed estimates.

TD Waterhouse Canada Inc. reduced its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 9.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 867,206 shares of the cell phone carrier's stock after selling 94,416 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Verizon Communications were worth $36,443,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Strengthening Families & Communities LLC raised its stake in Verizon Communications by 490.0% in the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier's stock valued at $26,000 after buying an additional 539 shares during the last quarter. Gill Capital Partners LLC grew its stake in shares of Verizon Communications by 74.6% during the second quarter. Gill Capital Partners LLC now owns 620 shares of the cell phone carrier's stock worth $26,000 after acquiring an additional 265 shares during the last quarter. Robinswood Financial LLC purchased a new stake in shares of Verizon Communications during the first quarter worth about $27,000. Lam Group Inc. acquired a new position in shares of Verizon Communications during the first quarter valued at about $28,000. Finally, Sarver Vrooman Wealth Advisors increased its holdings in shares of Verizon Communications by 173.0% during the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier's stock valued at $29,000 after acquiring an additional 448 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Kyle Malady sold 1,100 shares of the business's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $50.50, for a total value 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 $5,437,133. The trade was a 1.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 3,300 shares of company stock valued at $164,164. Insiders own 0.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VZ. 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. TD Cowen raised their price target on shares of Verizon Communications from $54.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of Verizon Communications in a research note on Wednesday, August 26th. Freedom Capital raised shares of Verizon Communications to a "hold" rating in a report on Friday, June 12th. Finally, Wells Fargo & Company upped their target price on Verizon Communications from $43.00 to $47.00 and gave the company an "equal weight" rating in a research report on Monday, July 27th. Eight research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, Verizon Communications presently has a consensus rating of "Hold" and a consensus target price of $50.97.

Verizon Communications Trading Down 0.9%

Shares of Verizon Communications stock opened at $50.15 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.60 and a quick ratio of 0.57. The firm has a fifty day moving average price of $46.32 and a 200 day moving average price of $47.48. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. The stock has a market cap of $208.36 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 1.72 and a beta of 0.26.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.03. The company had revenue of $34.25 billion during 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 firm's quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Equities research analysts predict that Verizon Communications Inc. will post 5.03 earnings per share for the current 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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