Verizon Communications Inc. $VZ Shares Bought by Saudi Central Bank

Saudi Central Bank lifted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 88.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 292,601 shares of the cell phone carrier’s stock after buying an additional 136,968 shares during the quarter. Saudi Central Bank’s holdings in Verizon Communications were worth $12,389,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of VZ. Fortitude Advisory Group L.L.C. lifted its stake in shares of Verizon Communications by 10.1% during the second quarter. Fortitude Advisory Group L.L.C. now owns 7,644 shares of the cell phone carrier’s stock valued at $324,000 after buying an additional 703 shares during the period. Azimuth Capital Investment Management LLC boosted its position in Verizon Communications by 1.4% during the second quarter. Azimuth Capital Investment Management LLC now owns 282,857 shares of the cell phone carrier’s stock worth $11,976,000 after acquiring an additional 3,953 shares during the last quarter. Advisory Solutions Group LLC purchased a new stake in Verizon Communications in the 2nd quarter worth approximately $248,000. Rose Capital Advisors LLC purchased a new stake in Verizon Communications in the 2nd quarter worth approximately $220,000. Finally, Compass Financial Management LLC acquired a new position in Verizon Communications in the 2nd quarter valued at $1,484,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Insider Buying and Selling

In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was 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 $5,437,133. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders 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.

Verizon Communications Stock Down 0.9%

Shares of NYSE VZ opened at $50.15 on Friday. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $51.68. The firm has a fifty day moving average of $46.32 and a 200-day moving average of $47.48. The stock has a market capitalization of $208.36 billion, a PE ratio of 13.06, a P/E/G ratio of 1.70 and a beta of 0.26. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36.

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

Analyst Upgrades and Downgrades

VZ has been the topic of a number of recent analyst reports. Moffett Nathanson reduced their price target on Verizon Communications from $56.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, July 20th. Freedom Capital raised Verizon Communications to a “hold” rating in a research report on Friday, June 12th. Wells Fargo & Company upped their target price on Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. BNP Paribas Exane reduced their target price on Verizon Communications from $46.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada raised their price target on Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Monday, July 27th. Eight analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.97.

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.