Verizon Communications Inc. $VZ Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. trimmed its stake in Verizon Communications Inc. (NYSE:VZ) by 63.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,996 shares of the cell phone carrier’s stock after selling 52,490 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Verizon Communications were worth $1,222,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in VZ. State Street Corp raised its holdings in shares of 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 worth $9,470,788,000 after acquiring an additional 7,276,809 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Verizon Communications by 1.5% in 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 acquiring an additional 5,497,598 shares during the last quarter. Capital World Investors raised its holdings in shares of Verizon Communications by 51.1% in the third quarter. Capital World Investors now owns 14,512,228 shares of the cell phone carrier’s stock worth $637,812,000 after acquiring an additional 4,905,101 shares during the last quarter. Danske Bank A S acquired a new position in shares of Verizon Communications in the third quarter worth $161,346,000. Finally, AQR Capital Management LLC raised its holdings in shares of Verizon Communications by 50.4% in the third quarter. AQR Capital Management LLC now owns 8,848,766 shares of the cell phone carrier’s stock worth $385,983,000 after acquiring an additional 2,965,033 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $47.84 on Monday. The company has a market cap of $199.78 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.14 and a beta of 0.24. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.38. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.68. The business has a fifty day simple moving average of $47.93 and a 200-day simple moving average of $45.11.

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

Analyst Ratings Changes

VZ has been the subject of a number of analyst reports. Erste Group Bank reissued a “hold” rating on shares of Verizon Communications in a report on Tuesday, May 5th. Oppenheimer lifted their price objective on Verizon Communications from $50.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, March 11th. Royal Bank Of Canada lifted their price objective on Verizon Communications from $44.00 to $48.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 3rd. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $48.00 price objective on shares of Verizon Communications in a research report on Monday, February 2nd. Finally, Wells Fargo & Company lifted their price objective on Verizon Communications from $44.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

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.