Nan Shan Life Insurance Co. Ltd. Sells 716,761 Shares of Verizon Communications Inc. $VZ

Nan Shan Life Insurance Co. Ltd. cut its holdings in Verizon Communications Inc. (NYSE:VZ) by 34.3% in the second quarter, HoldingsChannel reports. The firm owned 1,371,830 shares of the cell phone carrier’s stock after selling 716,761 shares during the quarter. Verizon Communications accounts for 1.9% of Nan Shan Life Insurance Co. Ltd.’s portfolio, making the stock its 18th largest position. Nan Shan Life Insurance Co. Ltd.’s holdings in Verizon Communications were worth $58,083,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of VZ. State Street Corp lifted its position in Verizon Communications by 3.5% during the fourth quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock valued at $9,080,810,000 after purchasing an additional 7,461,335 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Verizon Communications by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier’s stock worth $4,747,930,000 after buying an additional 5,851,715 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Verizon Communications by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 102,632,509 shares of the cell phone carrier’s stock valued at $4,168,080,000 after buying an additional 867,694 shares in the last quarter. Bank of America Corp DE raised its position in shares of Verizon Communications by 15.4% during the 1st quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier’s stock valued at $3,117,471,000 after buying an additional 8,289,877 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Verizon Communications in the 4th quarter valued at about $2,357,158,000. Institutional investors own 62.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on VZ shares. Freedom Capital upgraded Verizon Communications to a “hold” rating in a research report on Friday, June 12th. Weiss Ratings restated a “buy (b)” rating on shares of Verizon Communications in a research report on Wednesday, August 26th. Royal Bank Of Canada raised their price objective on Verizon Communications from $46.00 to $47.00 and gave the company a “sector perform” rating in a research note on Monday, July 27th. TD Cowen lifted their target price on Verizon Communications from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, Wells Fargo & Company boosted their target price on Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. Eight research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $50.97.

Verizon Communications Price Performance

VZ stock opened at $50.21 on Thursday. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36. The company has a 50-day moving average price of $46.16 and a 200 day moving average price of $47.45. The stock has a market cap of $208.60 billion, a PE ratio of 13.07, a P/E/G ratio of 1.71 and a beta of 0.26.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. The company had revenue of $34.25 billion for the quarter, compared to analyst estimates of $35.16 billion. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Equities research analysts anticipate that Verizon Communications Inc. will post 5.03 earnings per share for the current year.

Insider Activity at Verizon Communications

In other news, CEO Kyle Malady sold 1,100 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $50.50, for a total value of $55,550.00. Following the sale, the chief executive officer directly owned 107,666 shares in the company, valued at approximately $5,437,133. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,300 shares of company stock worth $164,164 over the last quarter. Corporate insiders own 0.03% of the company’s stock.

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.