VIRGINIA RETIREMENT SYSTEMS ET Al Invests $132.89 Million in Verizon Communications Inc. $VZ

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Verizon Communications Inc. (NYSE:VZ) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,138,705 shares of the cell phone carrier’s stock, valued at approximately $132,893,000. Verizon Communications makes up about 0.8% of VIRGINIA RETIREMENT SYSTEMS ET Al’s investment portfolio, making the stock its 17th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Robinswood Financial LLC acquired a new position in shares of Verizon Communications in the 1st quarter worth approximately $27,000. Lam Group Inc. acquired a new stake in shares of Verizon Communications during the 1st quarter valued at approximately $28,000. Gill Capital Partners LLC raised its position in shares of Verizon Communications by 74.6% during the 2nd quarter. Gill Capital Partners LLC now owns 620 shares of the cell phone carrier’s stock valued at $26,000 after acquiring an additional 265 shares in the last quarter. Sarver Vrooman Wealth Advisors lifted its stake in Verizon Communications by 173.0% during the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock worth $29,000 after purchasing an additional 448 shares during the last quarter. Finally, Quattro Advisors LLC bought a new position in Verizon Communications during the fourth quarter worth $30,000. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Performance

VZ stock opened at $50.15 on Monday. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. The stock has a market capitalization of $208.36 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.70 and a beta of 0.26. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.57 and a current ratio of 0.60. The stock’s fifty day moving average is $46.32 and its two-hundred day moving average is $47.47.

Verizon Communications (NYSE:VZ) last released 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 net margin of 11.64% and a return on equity of 19.48%. The business had revenue of $34.25 billion during the quarter, compared to analyst estimates of $35.16 billion. During the same quarter in the prior year, the firm earned $1.22 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, research analysts predict that Verizon Communications Inc. will post 5.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VZ. Royal Bank Of Canada boosted their target price on shares of Verizon Communications from $46.00 to $47.00 and gave the company a “sector perform” rating in a research note on Monday, July 27th. Scotiabank lifted their price target on shares of Verizon Communications from $51.50 to $52.50 and gave the company a “sector outperform” rating in a report on Monday, July 27th. Wells Fargo & Company boosted their price objective on shares of Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a research note on Wednesday, August 26th. Finally, Freedom Capital raised shares of Verizon Communications to a “hold” rating in a report on Friday, June 12th. Eight investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, Verizon Communications has a consensus rating of “Hold” and an average price target of $50.97.

Insider Transactions at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $50.50, for a total transaction of $55,550.00. Following the completion of the transaction, the chief executive officer directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 3,300 shares of company stock worth $164,164. Insiders own 0.03% of the company’s stock.

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.