Wealth Advisors of Tampa Bay LLC Has $6.13 Million Stake in Verizon Communications Inc. $VZ

Wealth Advisors of Tampa Bay LLC grew its position in shares of Verizon Communications Inc. (NYSE:VZ) by 27.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,561 shares of the cell phone carrier’s stock after buying an additional 32,179 shares during the quarter. Verizon Communications makes up about 2.1% of Wealth Advisors of Tampa Bay LLC’s investment portfolio, making the stock its 14th largest holding. Wealth Advisors of Tampa Bay LLC’s holdings in Verizon Communications were worth $6,132,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. lifted its holdings in Verizon Communications by 4.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 335,856 shares of the cell phone carrier’s stock worth $14,761,000 after purchasing an additional 13,787 shares during the last quarter. Avanza Fonder AB lifted its holdings in Verizon Communications by 5.6% in the 4th quarter. Avanza Fonder AB now owns 331,962 shares of the cell phone carrier’s stock worth $13,521,000 after purchasing an additional 17,495 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in Verizon Communications by 14.0% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 379,174 shares of the cell phone carrier’s stock worth $16,665,000 after purchasing an additional 46,699 shares during the last quarter. Econ Financial Services Corp lifted its holdings in Verizon Communications by 23.5% in the 4th quarter. Econ Financial Services Corp now owns 78,172 shares of the cell phone carrier’s stock worth $3,184,000 after purchasing an additional 14,862 shares during the last quarter. Finally, Wedbush Securities Inc. lifted its holdings in Verizon Communications by 18.4% in the 3rd quarter. Wedbush Securities Inc. now owns 140,981 shares of the cell phone carrier’s stock worth $6,196,000 after purchasing an additional 21,915 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on VZ shares. Royal Bank Of Canada boosted their target price on Verizon Communications from $44.00 to $48.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 3rd. Morgan Stanley boosted their target price on Verizon Communications from $49.00 to $50.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Wells Fargo & Company boosted their target price on Verizon Communications from $44.00 to $46.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Dbs Bank lowered Verizon Communications from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, William Blair upgraded Verizon Communications to an “outperform” rating in a report on Monday, February 2nd. 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. According to data from MarketBeat, Verizon Communications has an average rating of “Moderate Buy” and a consensus target price of $50.59.

Verizon Communications Stock Performance

Shares of NYSE VZ opened at $48.47 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.38. The business’s 50 day moving average is $48.06 and its two-hundred day moving average is $44.93. The company has a market cap of $202.39 billion, a P/E ratio of 11.82, a P/E/G ratio of 1.15 and a beta of 0.24. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68.

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, topping the consensus estimate of $1.21 by $0.07. The company had revenue of $34.44 billion for the quarter, compared to the consensus estimate of $34.82 billion. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.19 EPS. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, equities analysts expect that Verizon Communications Inc. will post 4.96 EPS for the current year.

Insider Buying and Selling

In other 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 transaction of $428,450.00. Following the sale, the senior vice president directly owned 43,782 shares in the company, valued at approximately $2,189,100. The trade was a 16.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.03% of the stock is currently owned by corporate insiders.

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.