Maloon Powers Pitre Higgins & Dennehy LLC Takes Position in Verizon Communications Inc. $VZ

Maloon Powers Pitre Higgins & Dennehy LLC acquired a new stake in shares of Verizon Communications Inc. (NYSE:VZ) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 29,758 shares of the cell phone carrier’s stock, valued at approximately $1,260,000.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Verizon Communications during the 4th quarter valued at about $2,357,158,000. Bank of America Corp DE grew its stake in shares of Verizon Communications by 15.4% in the first quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier’s stock worth $3,117,471,000 after acquiring an additional 8,289,877 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Verizon Communications by 31.2% during the fourth quarter. Bank of New York Mellon Corp now owns 31,584,162 shares of the cell phone carrier’s stock valued at $1,286,423,000 after purchasing an additional 7,509,055 shares during the last quarter. State Street Corp raised its holdings in shares of Verizon Communications by 3.5% during the fourth quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock valued at $9,080,810,000 after purchasing an additional 7,461,335 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Verizon Communications by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier’s stock valued at $4,747,930,000 after purchasing an additional 5,851,715 shares during the period. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Performance

NYSE:VZ opened at $50.15 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.57 and a current ratio of 0.60. The stock has a 50-day simple moving average of $46.32 and a two-hundred day simple moving average of $47.48. The firm has a market capitalization of $208.36 billion, a PE ratio of 13.06, a P/E/G ratio of 1.72 and a beta of 0.26. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $51.68.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, topping the consensus estimate of $1.27 by $0.03. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The firm had revenue of $34.25 billion for the quarter, compared to the consensus estimate of $35.16 billion. During the same quarter last year, the company earned $1.22 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Analysts forecast that Verizon Communications Inc. will post 5.03 EPS for the current year.

Analyst Upgrades and Downgrades

VZ has been the topic of several research reports. Moffett Nathanson dropped their target price on shares of Verizon Communications from $56.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, July 20th. Royal Bank Of Canada boosted their target price on shares of Verizon Communications from $46.00 to $47.00 and gave the company a “sector perform” rating in a research note on Monday, July 27th. TD Cowen increased their price target on Verizon Communications from $54.00 to $56.00 and gave the company a “buy” rating in a report on Monday, July 27th. Barclays lifted their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Finally, BNP Paribas Exane reduced their price objective on Verizon Communications from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, July 14th. 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.com, the stock presently has an average rating of “Hold” and an average target price of $50.97.

Insider Transactions at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $50.50, for a total transaction of $55,550.00. Following the sale, the chief executive officer owned 107,666 shares in the company, valued at approximately $5,437,133. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 3,300 shares of company stock valued at $164,164. Corporate 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.