Concurrent Investment Advisors LLC Increases Stake in Verizon Communications Inc. $VZ

Concurrent Investment Advisors LLC lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 13.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 639,281 shares of the cell phone carrier’s stock after buying an additional 73,620 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Verizon Communications were worth $27,067,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. RKL Wealth Management LLC lifted its stake in Verizon Communications by 4.3% in the first quarter. RKL Wealth Management LLC now owns 5,338 shares of the cell phone carrier’s stock worth $268,000 after acquiring an additional 218 shares during the last quarter. Manchester Financial Inc. raised its holdings in shares of Verizon Communications by 0.6% in the 2nd quarter. Manchester Financial Inc. now owns 34,924 shares of the cell phone carrier’s stock valued at $1,479,000 after purchasing an additional 218 shares in the last quarter. Strategic Investment Solutions Inc. IL raised its holdings in shares of Verizon Communications by 8.6% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 2,765 shares of the cell phone carrier’s stock valued at $113,000 after purchasing an additional 219 shares in the last quarter. Frazier Financial Advisors LLC lifted its position in shares of Verizon Communications by 32.7% during the 1st quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier’s stock worth $45,000 after purchasing an additional 219 shares during the last quarter. Finally, FAS Wealth Partners Inc. lifted its position in shares of Verizon Communications by 1.2% during the 1st quarter. FAS Wealth Partners Inc. now owns 18,421 shares of the cell phone carrier’s stock worth $925,000 after purchasing an additional 223 shares during the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

NYSE:VZ opened at $50.52 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.60 and a quick ratio of 0.57. The firm has a market cap of $209.90 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 1.71 and a beta of 0.26. The firm’s fifty day moving average price is $46.25 and its 200 day moving average price is $47.46. Verizon Communications Inc. has a 1-year low of $38.39 and a 1-year high of $51.68.

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

Insider Activity

In other news, CEO Kyle Malady sold 1,100 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $50.50, for a total transaction of $55,550.00. Following the transaction, the chief executive officer directly owned 107,666 shares in the company, valued at $5,437,133. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,300 shares of company stock worth $164,164 in the last quarter. Insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on VZ. Barclays increased their target price on Verizon Communications from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Freedom Capital raised Verizon Communications to a “hold” rating in a research report on Friday, June 12th. TD Cowen increased their price objective on Verizon Communications from $54.00 to $56.00 and gave the company a “buy” rating in a report on Monday, July 27th. Scotiabank raised their target price on Verizon Communications from $51.50 to $52.50 and gave the stock a “sector outperform” rating in a research report on Monday, July 27th. Finally, Morgan Stanley boosted their target price on Verizon Communications from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. Eight research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $50.97.

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.