1,332,460 Shares in Verizon Communications Inc. $VZ Purchased by Nykredit A S

Nykredit A S acquired a new stake in Verizon Communications Inc. (NYSE:VZ) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,332,460 shares of the cell phone carrier’s stock, valued at approximately $56,416,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Verizon Communications in the 4th quarter worth approximately $2,357,158,000. Bank of America Corp DE raised its position in shares of Verizon Communications by 15.4% during the 1st quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier’s stock valued at $3,117,471,000 after acquiring an additional 8,289,877 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in 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 worth $1,286,423,000 after purchasing an additional 7,509,055 shares during the last quarter. State Street Corp lifted its stake in 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 worth $9,080,810,000 after purchasing an additional 7,461,335 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Verizon Communications by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier’s stock worth $4,747,930,000 after purchasing an additional 5,851,715 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on VZ shares. 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. Morgan Stanley lifted their price target on shares of Verizon Communications from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Freedom Capital raised shares of Verizon Communications to a “hold” rating in a research report on Friday, June 12th. Moffett Nathanson lowered their price objective on shares of Verizon Communications from $56.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, July 20th. Finally, BNP Paribas Exane dropped their price objective on shares of Verizon Communications from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.97.

Verizon Communications Price Performance

Shares of VZ opened at $50.21 on Thursday. The company has a market cap of $208.60 billion, a P/E ratio of 13.07, a PEG ratio of 1.71 and a beta of 0.26. The stock has a fifty day moving average price of $46.16 and a 200 day moving average price of $47.45. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.60 and a quick ratio of 0.57. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68.

Verizon Communications (NYSE:VZ) 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. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The company had revenue of $34.25 billion for the quarter, compared to analysts’ expectations of $35.16 billion. During the same period last year, the business posted $1.22 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, research analysts forecast that Verizon Communications Inc. will post 5.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Kyle Malady sold 1,100 shares of Verizon Communications stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $50.50, for a total value of $55,550.00. Following the sale, the chief executive officer directly owned 107,666 shares in the company, valued at $5,437,133. This trade represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 3,300 shares of company stock valued at $164,164. Company insiders own 0.03% of the company’s stock.

Verizon Communications 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.