TD Waterhouse Canada Inc. Cuts Holdings in Verizon Communications Inc. $VZ

TD Waterhouse Canada Inc. decreased its position in Verizon Communications Inc. (NYSE:VZ) by 9.8% in the second quarter, Holdings Channel reports. The institutional investor owned 867,206 shares of the cell phone carrier’s stock after selling 94,416 shares during the period. TD Waterhouse Canada Inc.’s holdings in Verizon Communications were worth $36,443,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of VZ. Robinswood Financial LLC acquired a new position in Verizon Communications in the 1st quarter worth about $27,000. Lam Group Inc. acquired a new stake in Verizon Communications in the first quarter valued at approximately $28,000. Gill Capital Partners LLC grew its holdings in Verizon Communications by 74.6% in the second quarter. Gill Capital Partners LLC now owns 620 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 265 shares during the period. Strengthening Families & Communities LLC increased its position in shares of Verizon Communications by 490.0% in the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock valued at $26,000 after buying an additional 539 shares in the last quarter. Finally, Sarver Vrooman Wealth Advisors increased its position in shares of Verizon Communications by 173.0% in the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock valued at $29,000 after buying an additional 448 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Freedom Capital raised Verizon Communications to a “hold” rating in a research note on Friday, June 12th. Moffett Nathanson dropped their price target on shares of Verizon Communications from $56.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, July 20th. Barclays boosted their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Wells Fargo & Company increased their price objective on shares of Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Finally, TD Cowen lifted their target price on shares of Verizon Communications from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Eight investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $50.97.

Insider Transactions at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of Verizon Communications stock in a transaction 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 of the company’s stock, valued at $5,437,133. The trade was 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. Over the last 90 days, insiders have sold 3,300 shares of company stock worth $164,164. Insiders own 0.03% of the company’s stock.

Verizon Communications Stock Performance

NYSE VZ opened at $50.15 on Friday. The company has a market cap of $208.36 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 1.72 and a beta of 0.26. The stock’s 50 day simple moving average is $46.32 and its 200-day simple moving average is $47.48. Verizon Communications Inc. has a 1-year low of $38.39 and a 1-year high of $51.68. 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 (NYSE:VZ) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $35.16 billion. During the same period in the previous year, the business earned $1.22 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, equities research analysts anticipate that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.

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.