Proficio Capital Partners LLC Makes New Investment in Verizon Communications Inc. $VZ

Proficio Capital Partners LLC acquired a new position in Verizon Communications Inc. (NYSE:VZ) in the second quarter, Holdings Channel.com reports. The firm acquired 12,551 shares of the cell phone carrier’s stock, valued at approximately $531,000.

Several other institutional investors have also recently modified their holdings of the company. Strengthening Families & Communities LLC boosted its stake in Verizon Communications by 490.0% in the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 539 shares in the last quarter. Gill Capital Partners LLC grew its position in Verizon Communications by 74.6% during the second 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 during the last quarter. Robinswood Financial LLC purchased a new position in shares of Verizon Communications during the first quarter worth approximately $27,000. Lam Group Inc. purchased a new position in shares of Verizon Communications during the first quarter worth approximately $28,000. Finally, Sarver Vrooman Wealth Advisors lifted its holdings in shares of Verizon Communications by 173.0% in the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock worth $29,000 after acquiring an additional 448 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VZ has been the topic of several recent research reports. Royal Bank Of Canada increased their target price on shares of Verizon Communications from $46.00 to $47.00 and gave the company a “sector perform” rating in a report on Monday, July 27th. Wells Fargo & Company boosted their price target on shares of Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of Verizon Communications in a research report on Wednesday, August 26th. Scotiabank raised their price objective on Verizon Communications from $51.50 to $52.50 and gave the company a “sector outperform” rating in a research note on Monday, July 27th. Finally, Barclays boosted their target price on Verizon Communications from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Eight analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.97.

Verizon Communications Stock Down 0.2%

Shares of NYSE VZ opened at $50.21 on Thursday. The firm’s fifty day moving average is $46.16 and its 200 day moving average is $47.45. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.68. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36. The company has a market cap of $208.60 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 1.71 and a beta of 0.26.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, beating 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 analysts’ expectations of $35.16 billion. During the same quarter in the prior year, the company posted $1.22 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, equities research analysts expect that Verizon Communications Inc. will post 5.03 earnings per share for the current year.

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 1,100 shares of the 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,300 shares of company stock worth $164,164 in the last ninety days. Corporate insiders own 0.03% of the company’s stock.

About Verizon Communications

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.