SVB Wealth LLC Sells 10,906 Shares of Verizon Communications Inc. $VZ

SVB Wealth LLC lowered its holdings in Verizon Communications Inc. (NYSE:VZ) by 22.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,832 shares of the cell phone carrier’s stock after selling 10,906 shares during the period. SVB Wealth LLC’s holdings in Verizon Communications were worth $1,500,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of VZ. Strengthening Families & Communities LLC raised its holdings in shares of Verizon Communications by 490.0% in the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock valued at $26,000 after acquiring an additional 539 shares in the last quarter. Holos Integrated Wealth LLC purchased a new stake in shares of Verizon Communications in the 4th quarter valued at about $28,000. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Verizon Communications in the 3rd quarter valued at about $29,000. EQ Wealth Advisors LLC purchased a new stake in shares of Verizon Communications in the 4th quarter valued at about $29,000. Finally, Daytona Street Capital LLC purchased a new stake in shares of Verizon Communications in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Shares of Verizon Communications stock opened at $47.29 on Tuesday. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $197.45 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 0.99 and a beta of 0.24. The business’s 50-day moving average price is $48.73 and its 200-day moving average price is $44.29. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68.

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

Insider Activity

In other news, SVP Mary-Lee Stillwell sold 8,569 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $50.00, for a total transaction of $428,450.00. Following the transaction, the senior vice president directly owned 43,782 shares in the company, valued at approximately $2,189,100. This represents a 16.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hans Erik Vestberg sold 200,000 shares of Verizon Communications stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $49.61, for a total value of $9,922,000.00. Following the completion of the transaction, the director owned 145,069 shares in the company, valued at approximately $7,196,873.09. This represents a 57.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on VZ shares. Wells Fargo & Company raised their price target on Verizon Communications from $44.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Morgan Stanley raised their price target on Verizon Communications from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Dbs Bank cut Verizon Communications from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Erste Group Bank reaffirmed a “hold” rating on shares of Verizon Communications in a report on Tuesday, May 5th. Finally, Williams Trading set a $54.00 price target on Verizon Communications in a 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.59.

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.