Jupiter Asset Management Ltd. Lowers Position in Verizon Communications Inc. $VZ

Jupiter Asset Management Ltd. cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 99.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,192 shares of the cell phone carrier’s stock after selling 685,326 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Verizon Communications were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of VZ. Brighton Jones LLC boosted its holdings in Verizon Communications by 61.2% during the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after acquiring an additional 16,704 shares during the period. United Bank boosted its holdings in Verizon Communications by 11.5% during the 2nd quarter. United Bank now owns 7,843 shares of the cell phone carrier’s stock valued at $339,000 after acquiring an additional 806 shares during the period. Jump Financial LLC boosted its holdings in Verizon Communications by 312.0% during the 2nd quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier’s stock valued at $1,023,000 after acquiring an additional 17,901 shares during the period. HUB Investment Partners LLC boosted its holdings in Verizon Communications by 17.2% during the 2nd quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier’s stock valued at $1,779,000 after acquiring an additional 6,034 shares during the period. Finally, Vivaldi Capital Management LP boosted its holdings in Verizon Communications by 5.2% during the 2nd quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier’s stock valued at $389,000 after acquiring an additional 443 shares during the period. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

Shares of VZ opened at $47.84 on Monday. The stock has a 50-day simple moving average of $47.93 and a 200-day simple moving average of $45.11. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.61 and a current ratio of 0.64. The stock has a market capitalization of $199.78 billion, a PE ratio of 11.67, a PEG ratio of 1.14 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 announced its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.07. The business had revenue of $34.44 billion during the quarter, compared to analysts’ expectations of $34.82 billion. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 EPS. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, analysts predict that Verizon Communications Inc. will post 4.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VZ. Sanford C. Bernstein restated a “market perform” rating and set a $48.00 target price on shares of Verizon Communications in a report on Monday, February 2nd. Williams Trading set a $54.00 target price on Verizon Communications in a report on Monday, February 2nd. Raymond James Financial reiterated an “outperform” rating and issued a $56.00 price objective on shares of Verizon Communications in a research note on Thursday, March 12th. Barclays lifted their price objective on Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 31st. Finally, William Blair upgraded Verizon Communications to an “outperform” rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Verizon Communications has a consensus rating of “Moderate Buy” and an average price target of $50.59.

Verizon Communications 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.