M3 Wealth Management LLC Takes $2.55 Million Position in Verizon Communications Inc. $VZ

M3 Wealth Management LLC purchased a new stake in Verizon Communications Inc. (NYSE:VZ) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 62,624 shares of the cell phone carrier’s stock, valued at approximately $2,551,000. Verizon Communications makes up approximately 2.0% of M3 Wealth Management LLC’s investment portfolio, making the stock its 11th largest holding.

Other hedge funds have also added to or reduced their stakes in the company. Foster Dykema Cabot & Partners LLC acquired a new stake in Verizon Communications during the 3rd quarter worth approximately $29,000. Strengthening Families & Communities LLC raised its holdings in Verizon Communications by 490.0% during the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 539 shares during the last quarter. Holos Integrated Wealth LLC bought a new stake in shares of Verizon Communications in the 4th quarter valued at $28,000. EQ Wealth Advisors LLC bought a new stake in shares of Verizon Communications in the 4th quarter valued at $29,000. Finally, Daytona Street Capital LLC bought a new stake in shares of Verizon Communications in the 4th quarter valued at $33,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on VZ shares. Morgan Stanley lifted their price target on shares of Verizon Communications from $49.00 to $50.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. lifted their price objective on shares of Verizon Communications from $49.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Raymond James Financial reissued an “outperform” rating and issued a $56.00 price target on shares of Verizon Communications in a report on Thursday, March 12th. Wells Fargo & Company boosted their price objective 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, Evercore boosted their price objective on Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Verizon Communications presently has an average 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 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 value of $428,450.00. Following the completion of the sale, the senior vice president owned 43,782 shares of the company’s stock, valued at $2,189,100. This represents a 16.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is currently owned by corporate insiders.

Verizon Communications Stock Up 0.2%

VZ stock opened at $48.47 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. The company’s 50 day moving average is $48.06 and its 200 day moving average is $44.93. The stock has a market cap of $202.39 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.15 and a beta of 0.24. Verizon Communications Inc. has a 1-year low of $38.39 and a 1-year high of $51.68.

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

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.