Proficio Capital Partners LLC Buys Shares of 12,551 Verizon Communications Inc. $VZ

Proficio Capital Partners LLC bought a new stake in shares of Verizon Communications Inc. (NYSE:VZ) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,551 shares of the cell phone carrier’s stock, valued at approximately $531,000.

Several other large investors also recently modified their holdings of the stock. USS Investment Management Ltd boosted its holdings in Verizon Communications by 4.6% in the 1st quarter. USS Investment Management Ltd now owns 713,156 shares of the cell phone carrier’s stock worth $35,790,000 after buying an additional 31,354 shares during the period. Cornerstone Capital Inc. grew its stake in Verizon Communications by 8.6% in the 2nd quarter. Cornerstone Capital Inc. now owns 317,284 shares of the cell phone carrier’s stock valued at $13,434,000 after buying an additional 25,156 shares in the last quarter. Cibc World Market Inc. raised its holdings in Verizon Communications by 15.3% during the 4th quarter. Cibc World Market Inc. now owns 2,382,975 shares of the cell phone carrier’s stock valued at $97,059,000 after acquiring an additional 316,854 shares during the period. University of Texas Texas AM Investment Management Co. lifted its position in shares of Verizon Communications by 127.0% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 184,170 shares of the cell phone carrier’s stock worth $7,798,000 after acquiring an additional 103,046 shares in the last quarter. Finally, Keudell Morrison Wealth Management purchased a new stake in shares of Verizon Communications during the fourth quarter worth $2,171,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 1,100 shares of Verizon Communications 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 owned 107,666 shares in the company, valued at approximately $5,437,133. This trade represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 3,300 shares of company stock valued at $164,164. Company insiders own 0.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on VZ shares. Freedom Capital upgraded Verizon Communications to a “hold” rating in a research report on Friday, June 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Verizon Communications in a report on Wednesday, August 26th. Barclays raised their target price on Verizon Communications from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. Morgan Stanley lifted their target price on Verizon Communications from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Finally, Scotiabank upped their price target on Verizon Communications from $51.50 to $52.50 and gave the company a “sector outperform” rating in a research report on Monday, July 27th. Eight research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $50.97.

Verizon Communications Stock Down 0.2%

VZ opened at $50.21 on Thursday. The firm has a market capitalization of $208.60 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 1.71 and a beta of 0.26. Verizon Communications Inc. has a one year low of $38.39 and a one year high of $51.68. The company has a fifty day moving average price of $46.16 and a 200-day moving average price of $47.45. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.60 and a quick ratio of 0.57.

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