Harbour Investments Inc. Has $8.77 Million Stock Position in Verizon Communications Inc. $VZ

Harbour Investments Inc. boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 28.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 215,247 shares of the cell phone carrier’s stock after buying an additional 47,727 shares during the period. Harbour Investments Inc.’s holdings in Verizon Communications were worth $8,767,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of VZ. State Street Corp raised its holdings in Verizon Communications by 3.5% during the 3rd quarter. State Street Corp now owns 215,490,064 shares of the cell phone carrier’s stock worth $9,470,788,000 after buying an additional 7,276,809 shares during the period. Vanguard Group Inc. raised its holdings in Verizon Communications by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier’s stock worth $15,453,058,000 after buying an additional 5,497,598 shares during the period. Capital World Investors raised its holdings in Verizon Communications by 51.1% during the 3rd quarter. Capital World Investors now owns 14,512,228 shares of the cell phone carrier’s stock worth $637,812,000 after buying an additional 4,905,101 shares during the period. Danske Bank A S bought a new stake in Verizon Communications in the 3rd quarter valued at approximately $161,346,000. Finally, AQR Capital Management LLC lifted its stake in Verizon Communications by 50.4% in the 3rd quarter. AQR Capital Management LLC now owns 8,848,766 shares of the cell phone carrier’s stock valued at $385,983,000 after acquiring an additional 2,965,033 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Mary-Lee Stillwell sold 8,569 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $50.00, for a total transaction of $428,450.00. Following the sale, the senior vice president owned 43,782 shares in the company, valued at $2,189,100. This represents a 16.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.03% of the stock is currently owned by corporate insiders.

Verizon Communications Trading Up 0.2%

Shares of Verizon Communications stock opened at $48.43 on Tuesday. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The stock has a market cap of $202.23 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.15 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 business’s 50 day moving average is $48.12 and its 200-day moving average is $44.87.

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, topping analysts’ consensus estimates of $1.21 by $0.07. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The company 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 business posted $1.19 EPS. The business’s revenue 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. Equities research analysts predict that Verizon Communications Inc. will post 4.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on VZ shares. Oppenheimer boosted their target price on Verizon Communications from $50.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, March 11th. Evercore boosted their target price on Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Morgan Stanley boosted their target price on Verizon Communications from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Wells Fargo & Company boosted their target price on Verizon Communications from $44.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Finally, Scotiabank upgraded Verizon Communications from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $50.25 to $54.50 in a research note on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $50.59.

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.