Cary Street Partners Financial LLC Has $6.69 Million Position in Verizon Communications Inc. $VZ

Cary Street Partners Financial LLC grew its stake in Verizon Communications Inc. (NYSE:VZ) by 23.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 164,283 shares of the cell phone carrier’s stock after acquiring an additional 31,465 shares during the quarter. Cary Street Partners Financial LLC’s holdings in Verizon Communications were worth $6,691,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. State Street Corp increased its stake in Verizon Communications by 3.5% in the third quarter. State Street Corp now owns 215,490,064 shares of the cell phone carrier’s stock valued at $9,470,788,000 after purchasing an additional 7,276,809 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Verizon Communications by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier’s stock worth $15,453,058,000 after purchasing an additional 5,497,598 shares in the last quarter. Capital World Investors boosted its position in shares of Verizon Communications by 51.1% during the third quarter. Capital World Investors now owns 14,512,228 shares of the cell phone carrier’s stock worth $637,812,000 after purchasing an additional 4,905,101 shares in the last quarter. Danske Bank A S acquired a new position in shares of Verizon Communications in the 3rd quarter valued at $161,346,000. Finally, AQR Capital Management LLC grew its holdings in shares of 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 buying an additional 2,965,033 shares during the period. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Price Performance

VZ stock opened at $48.47 on Wednesday. The stock has a 50-day moving average price of $48.06 and a two-hundred day moving average price of $44.93. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. The stock has a market cap of $202.39 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.15 and a beta of 0.24. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. The company had revenue of $34.44 billion for the quarter, compared to analyst estimates of $34.82 billion. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Equities analysts forecast that Verizon Communications Inc. will post 4.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on VZ. Scotiabank raised Verizon Communications from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $50.25 to $54.50 in a research note on Monday, March 9th. Morgan Stanley increased their price target on Verizon Communications from $49.00 to $50.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Erste Group Bank reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Tuesday, May 5th. Dbs Bank cut Verizon Communications from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Insider Transactions at Verizon Communications

In other Verizon Communications news, SVP Mary-Lee Stillwell sold 8,569 shares of the business’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 value of $428,450.00. Following the sale, the senior vice president owned 43,782 shares in the company, valued at approximately $2,189,100. The trade was a 16.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.03% of the company’s stock.

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.