Hillsdale Investment Management Inc. Decreases Stake in Verizon Communications Inc. $VZ

Hillsdale Investment Management Inc. cut its holdings in Verizon Communications Inc. (NYSE:VZ) by 63.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,996 shares of the cell phone carrier’s stock after selling 52,490 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Verizon Communications were worth $1,222,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of VZ. State Street Corp boosted its stake in shares of Verizon Communications by 3.5% in the third quarter. State Street Corp now owns 215,490,064 shares of the cell phone carrier’s stock valued at $9,470,788,000 after buying an additional 7,276,809 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Verizon Communications by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier’s stock valued at $15,453,058,000 after buying an additional 5,497,598 shares in the last quarter. Capital World Investors boosted its stake in shares of Verizon Communications by 51.1% in the third quarter. Capital World Investors now owns 14,512,228 shares of the cell phone carrier’s stock valued at $637,812,000 after buying an additional 4,905,101 shares in the last quarter. Danske Bank A S purchased a new stake in shares of Verizon Communications in the third quarter valued at approximately $161,346,000. Finally, AQR Capital Management LLC boosted its stake in shares of Verizon Communications by 50.4% in the third quarter. AQR Capital Management LLC now owns 8,848,766 shares of the cell phone carrier’s stock valued at $385,983,000 after buying an additional 2,965,033 shares in the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VZ has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Williams Trading set a $54.00 price target on Verizon Communications in a research note on Monday, February 2nd. William Blair raised Verizon Communications to an “outperform” rating in a report on Monday, February 2nd. Wells Fargo & Company boosted their target price on Verizon Communications from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Finally, Evercore boosted their target price on Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus price target of $50.59.

Verizon Communications Stock Up 0.1%

VZ opened at $47.84 on Monday. The business’s fifty day moving average is $47.93 and its two-hundred day moving average is $45.11. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.61 and a current ratio of 0.64. The company has a market cap of $199.78 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.14 and a beta of 0.24. Verizon Communications Inc. has a one year low of $38.39 and a one year high of $51.68.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. The company had revenue of $34.44 billion for the quarter, compared to the consensus estimate of $34.82 billion. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.Verizon Communications’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Analysts anticipate that Verizon Communications Inc. will post 4.96 EPS for the current fiscal year.

About Verizon Communications

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.