Verizon Communications’ (VZ) “Hold” Rating Reiterated at Erste Group Bank

Verizon Communications (NYSE:VZ)‘s stock had its “hold” rating reissued by equities research analysts at Erste Group Bank in a research note issued to investors on Tuesday, Marketbeat reports.

Several other brokerages have also recently issued reports on VZ. Citigroup upped their price objective on Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Scotiabank upgraded Verizon Communications from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $50.25 to $54.50 in a research report on Monday, March 9th. Barclays increased their price target on Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 31st. Sanford C. Bernstein reiterated a “market perform” rating and set a $48.00 price target on shares of Verizon Communications in a research report on Monday, February 2nd. Finally, Dbs Bank cut Verizon Communications from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. One investment 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.59.

Verizon Communications Trading Down 1.2%

Shares of NYSE VZ opened at $47.55 on Tuesday. The stock’s 50 day moving average price is $48.94 and its two-hundred day moving average price is $44.05. Verizon Communications has a 52-week low of $38.39 and a 52-week high of $51.68. The stock has a market capitalization of $198.75 billion, a P/E ratio of 11.60, a PEG ratio of 1.01 and a beta of 0.25. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.38.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.07. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The firm had revenue of $34.44 billion for the quarter, compared to analysts’ expectations of $34.82 billion. During the same quarter in the prior year, the firm posted $1.19 earnings per share. Verizon Communications’s revenue for the quarter was up 2.7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, analysts anticipate that Verizon Communications will post 4.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Mary-Lee Stillwell sold 8,569 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $50.00, for a total value of $428,450.00. Following the completion of the transaction, the senior vice president directly owned 43,782 shares of the company’s stock, valued at $2,189,100. This represents a 16.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Hans Erik Vestberg sold 200,000 shares of the stock in a transaction that occurred on 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 directly owned 145,069 shares of the company’s stock, valued at $7,196,873.09. This trade represents a 57.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Verizon Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VZ. Brighton Jones LLC grew its holdings in Verizon Communications by 61.2% in the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock worth $1,759,000 after buying an additional 16,704 shares in the last quarter. United Bank grew its holdings in Verizon Communications by 11.5% in the 2nd quarter. United Bank now owns 7,843 shares of the cell phone carrier’s stock worth $339,000 after buying an additional 806 shares in the last quarter. Jump Financial LLC grew its holdings in Verizon Communications by 312.0% in the 2nd quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier’s stock worth $1,023,000 after buying an additional 17,901 shares in the last quarter. HUB Investment Partners LLC grew its holdings in Verizon Communications by 17.2% in the 2nd quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier’s stock worth $1,779,000 after buying an additional 6,034 shares in the last quarter. Finally, Vivaldi Capital Management LP grew its holdings in Verizon Communications by 5.2% in the 2nd quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier’s stock worth $389,000 after buying an additional 443 shares in the last quarter. 62.06% of the stock is owned by institutional investors.

Verizon Communications Company 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.