On September 3, 2023, it was reported that Independent Advisor Alliance had decreased its stake in Verizon Communications Inc. (NYSE:VZ) by 6.3% in the first quarter of the year, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 188,115 shares of Verizon’s stock after selling 12,637 shares during the period. At the end of the most recent quarter, Independent Advisor Alliance’s holdings in Verizon Communications were worth $7,316,000.
Verizon Communications recently posted its quarterly earnings results on July 25th. The cell phone carrier reported earnings per share (EPS) of $1.21 for the quarter, surpassing analysts’ consensus estimates of $1.17 by $0.04. The company had a return on equity of 22.28% and a net margin of 15.58%. However, despite beating EPS expectations, Verizon’s revenue for the quarter stood at $32.60 billion compared to a consensus estimate of $33.30 billion. This reflected a decline of 3.5% in revenue compared to the same quarter last year when the company earned $1.31 EPS.
Various research reports have been released regarding VZ in recent times. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in their research note on Monday. Raymond James set an “outperform” rating for the company but reduced their price target on VZ from $51.00 to $42.00 in their research note on Wednesday, July 26th.
HSBC also lowered their price target for Verizon Communications from $42.50 to $39.00 in their research note on Monday, June 5th.Statutory Authority Morgan Stanley restated an “overweight” rating and issued a price target of $44 on VZ shares in their research note on Thursday, August 3rd. In contrast, Wells Fargo & Company downgraded their rating for the company, reducing their Verizon Communications price target from $40.00 to $36.00 in a research note on Thursday, July 20th.
Overall, there are eight investment analysts who have rated the stock as a hold and seven have assigned a buy rating to Verizon Communications’ stock. According to data from Bloomberg, the stock currently has an average rating of “Hold” and a consensus price target of $43.40.
The information provided indicates that Independent Advisor Alliance reduced its stake in Verizon Communications during the first quarter of 2023 and the cell phone carrier’s quarterly earnings results revealed mixed performance. Additionally, recent research reports have offered differing opinions on the outlook for VZ shares, with some suggesting a “buy” rating while others have lowered their price targets. It will be interesting to see how these factors impact Verizon Communications as the year progresses.
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Investors Adjust Holdings in Verizon Communications: Insider Transactions and Market Analysis
In recent news, several large investors have made adjustments to their holdings in Verizon Communications, the prominent cell phone carrier. Certified Advisory Corp, for instance, increased its position in the company by a mere 1.0% during the first quarter. This move resulted in an additional ownership of 233 shares, which were valued at $1,187,000. Similarly, First Western Trust Bank purchased an extra 263 shares during the last quarter, contributing to a 2.8% increase in their stake of Verizon Communications. The bank’s total worth of the cell phone carrier’s stock now amounts to $375,000.
AMI Asset Management Corp also took part in this reshaping of investments by acquiring an extra 271 shares of Verizon Communications during the first quarter. As a result, their current position now stands at $776,000. Harrington Investments INC followed suit by purchasing an additional portion of 271 shares as well. Their share in Verizon Communication now holds a value of $1,517,000.
Furthermore, CWS Financial Advisors LLC opted to invest further by acquiring an additional 277 shares during the first quarter. Consequently, their stake has now reached $669,000.
It is important to note that institutional investors and hedge funds contribute significantly to the market performance of Verizon Communications through their ownership share amounting to 61.06% of the company’s stock holdings.
Apart from these noteworthy investment developments within Verizon Communication’s stock circulation sphere were reports regarding insider transactions within the firm. In particular, Executive Vice President Samantha Hammock recently made headlines when she sold off 12,557 shares on August 11th for a total sum of $418,022.53 with each share trading at an average price of $33.29.
Looking at current market trends and figures surrounding Verizon Communications Inc., we observe that its stock traded down $0.05 during midday trading on Friday and settled at $34.93. The trading volume for that day amounted to 9,426,978 shares, compared to the average volume of 21,783,475 shares. Over the past year, Verizon Communication’s stock has fluctuated between a low of $31.25 and a high of $42.85.
Examining its financial structure, Verizon Communication Inc. maintains a debt-to-equity ratio of 1.43, indicating a moderate level of debt dependency. With regards to liquidity indicators, the company exhibits a quick ratio of 0.69 and a current ratio of 0.73.
In terms of moving averages, Verizon Communication’s stock showcases a fifty-day simple moving average of $34.29 and a two-hundred-day simple moving average of $36.39.
As one delves further into analyzing the telecommunications giant’s market position using financial tools such as earnings ratio (P/E), growth expectations (PEG), and systematic risk measurement (beta), it becomes evident that Verizon Communication Inc.’s market capitalization stands at an impressive $146.85 billion with a P/E ratio recording at 7.00 and PEG ratio at 2.03 respectively.
In conclusion, these developments provide investors and market observers with valuable insights into changes within Verizon Communication’s ownership landscape as well as recent insider transactions affecting the company’s stock value in conjunction with relevant market figures reflecting its current standing within the industry.
