Verizon Communications Inc. $VZ Shares Sold by Raab & Moskowitz Asset Management LLC

Raab & Moskowitz Asset Management LLC lowered its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,632 shares of the cell phone carrier’s stock after selling 1,105 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Verizon Communications were worth $3,113,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of VZ. GQG Partners LLC increased its holdings in shares of Verizon Communications by 303.9% during the first quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier’s stock valued at $2,261,648,000 after acquiring an additional 37,516,167 shares in the last quarter. Nuveen LLC acquired a new position in shares of Verizon Communications during the first quarter valued at about $661,720,000. Pacer Advisors Inc. boosted its position in Verizon Communications by 737.5% in the first quarter. Pacer Advisors Inc. now owns 11,697,003 shares of the cell phone carrier’s stock valued at $530,576,000 after buying an additional 10,300,369 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Verizon Communications by 20.6% in the first quarter. Goldman Sachs Group Inc. now owns 31,626,373 shares of the cell phone carrier’s stock valued at $1,434,572,000 after buying an additional 5,392,416 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Verizon Communications by 13.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,893,487 shares of the cell phone carrier’s stock valued at $1,555,351,000 after buying an additional 4,568,518 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Trading Up 0.3%

Verizon Communications stock opened at $44.32 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The stock’s 50 day simple moving average is $43.20 and its two-hundred day simple moving average is $43.36. The firm has a market cap of $186.88 billion, a PE ratio of 10.33, a P/E/G ratio of 3.42 and a beta of 0.36.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping the consensus estimate of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The business had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same quarter in the prior year, the firm posted $1.15 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on VZ shares. Royal Bank Of Canada upped their target price on Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 22nd. Bank of America upped their target price on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Wells Fargo & Company upped their target price on Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. The Goldman Sachs Group started coverage on Verizon Communications in a research report on Tuesday. They issued a “buy” rating and a $49.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and an average target price of $47.65.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).