Resona Asset Management Co. Ltd. Sells 47,355 Shares of Verizon Communications Inc. $VZ

Resona Asset Management Co. Ltd. lowered its position in Verizon Communications Inc. (NYSE:VZ) by 2.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,583,449 shares of the cell phone carrier’s stock after selling 47,355 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Verizon Communications were worth $64,434,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Verizon Communications by 1.5% in the 4th 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 in the last quarter. State Street Corp raised its position in shares of Verizon Communications by 3.5% in the 3rd 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 in the last quarter. Northern Trust Corp raised its position in shares of Verizon Communications by 1.2% in the 3rd quarter. Northern Trust Corp now owns 45,265,695 shares of the cell phone carrier’s stock worth $1,989,427,000 after acquiring an additional 557,576 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Verizon Communications by 4.5% in the 3rd quarter. Legal & General Group Plc now owns 28,188,066 shares of the cell phone carrier’s stock worth $1,238,866,000 after buying an additional 1,203,445 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Verizon Communications by 2.9% in the 3rd quarter. Invesco Ltd. now owns 22,592,460 shares of the cell phone carrier’s stock worth $992,939,000 after buying an additional 646,537 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Up 1.1%

Shares of NYSE:VZ opened at $46.88 on Tuesday. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. The business has a 50 day simple moving average of $48.38 and a two-hundred day simple moving average of $44.57. The firm has a market capitalization of $195.74 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 0.97 and a beta of 0.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.64 and a quick ratio of 0.61.

Verizon Communications (NYSE:VZ) last announced its earnings results 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. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The business had revenue of $34.44 billion during the quarter, compared to analyst estimates of $34.82 billion. During the same quarter in the previous year, the business earned $1.19 earnings per share. The company’s revenue for the quarter 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. On average, equities analysts predict that Verizon Communications Inc. will post 4.96 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on VZ shares. Weiss Ratings raised Verizon Communications from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. raised their price target on Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Evercore raised their price target on Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Raymond James Financial reissued an “outperform” rating and set a $56.00 price target on shares of Verizon Communications in a report on Thursday, March 12th. Finally, Scotiabank raised Verizon Communications from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $50.25 to $54.50 in a report on Monday, March 9th. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Insider Buying and Selling

In related news, Director Hans Erik Vestberg sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $49.61, for a total value of $9,922,000.00. Following the completion of the sale, the director owned 145,069 shares in the company, valued at approximately $7,196,873.09. The trade was a 57.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mary-Lee Stillwell sold 8,569 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $50.00, for a total value of $428,450.00. Following the completion of the sale, the senior vice president owned 43,782 shares of the company’s stock, valued at $2,189,100. The trade was a 16.37% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.03% of the stock is currently owned by insiders.

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.