Welch & Forbes LLC Sells 37,495 Shares of Verizon Communications Inc. $VZ

Welch & Forbes LLC cut its stake in Verizon Communications Inc. (NYSE:VZ) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 664,664 shares of the cell phone carrier’s stock after selling 37,495 shares during the period. Welch & Forbes LLC’s holdings in Verizon Communications were worth $27,072,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Foster Dykema Cabot & Partners LLC bought a new stake in Verizon Communications in the 3rd quarter valued at $29,000. Strengthening Families & Communities LLC raised its stake 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 buying an additional 539 shares in the last quarter. Holos Integrated Wealth LLC acquired a new position in shares of Verizon Communications in the 4th quarter valued at $28,000. EQ Wealth Advisors LLC acquired a new position in shares of Verizon Communications in the 4th quarter valued at $29,000. Finally, Daytona Street Capital LLC acquired a new position in shares of Verizon Communications in the 4th quarter valued at $33,000. 62.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on VZ shares. Barclays 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 research note on Tuesday, March 31st. Scotiabank upgraded shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $50.25 to $54.50 in a research note on Monday, March 9th. Dbs Bank cut shares of Verizon Communications from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. increased their price objective on shares of Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Finally, Williams Trading set a $54.00 price objective on shares of Verizon Communications in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.59.

Verizon Communications Trading Down 0.3%

Shares of Verizon Communications stock opened at $47.84 on Friday. The stock has a market capitalization of $199.78 billion, a P/E ratio of 11.67, a price-to-earnings-growth ratio of 1.14 and a beta of 0.24. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.38. The company has a 50-day simple moving average of $47.93 and a 200 day simple moving average of $45.07. 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 earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. The business had revenue of $34.44 billion during the quarter, compared to analysts’ expectations of $34.82 billion. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company posted $1.19 EPS. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Research analysts expect that Verizon Communications Inc. will post 4.96 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Mary-Lee Stillwell sold 8,569 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $50.00, for a total transaction of $428,450.00. Following the completion of the sale, the senior vice president owned 43,782 shares in the company, valued at $2,189,100. This trade represents a 16.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.03% of the stock is owned by company insiders.

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.