OceanIQ Capital LLC Purchases Shares of 12,462 Verizon Communications Inc. $VZ

OceanIQ Capital LLC acquired a new stake in shares of Verizon Communications Inc. (NYSE:VZ) in the second quarter, Holdings Channel.com reports. The fund acquired 12,462 shares of the cell phone carrier’s stock, valued at approximately $528,000.

Several other large investors have also modified their holdings of VZ. Strengthening Families & Communities LLC raised its position in shares of Verizon Communications by 490.0% during the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 539 shares during the period. Gill Capital Partners LLC lifted its holdings in shares of Verizon Communications by 74.6% during the second quarter. Gill Capital Partners LLC now owns 620 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 265 shares during the last quarter. Robinswood Financial LLC acquired a new position in shares of Verizon Communications in the 1st quarter valued at $27,000. Lam Group Inc. acquired a new position in shares of Verizon Communications in the 1st quarter valued at $28,000. Finally, Sarver Vrooman Wealth Advisors increased its stake in Verizon Communications by 173.0% in the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock worth $29,000 after purchasing an additional 448 shares in the last quarter. 62.06% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Kyle Malady sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were 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 directly owned 107,666 shares in the company, valued at approximately $5,437,133. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,300 shares of company stock valued at $164,164 over the last ninety days. 0.03% of the stock is owned by corporate insiders.

Verizon Communications Stock Down 0.9%

Shares of Verizon Communications stock opened at $50.15 on Friday. The stock has a 50-day moving average price of $46.32 and a 200 day moving average price of $47.48. The company has a market cap of $208.36 billion, a P/E ratio of 13.06, a P/E/G ratio of 1.72 and a beta of 0.26. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68.

Verizon Communications (NYSE:VZ) last released its earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $35.16 billion. During the same quarter in the previous year, the business posted $1.22 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, analysts expect that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.

Analysts Set New Price Targets

VZ has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their price objective on Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a report on Monday, July 27th. Moffett Nathanson dropped their target price on shares of Verizon Communications from $56.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 20th. TD Cowen boosted their price target on shares of Verizon Communications from $54.00 to $56.00 and gave the company a “buy” rating in a report on Monday, July 27th. Scotiabank upped their price target on shares of Verizon Communications from $51.50 to $52.50 and gave the company a “sector outperform” rating in a research report on Monday, July 27th. Finally, Freedom Capital raised shares of Verizon Communications to a “hold” rating in a research note on Friday, June 12th. Eight investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, Verizon Communications has a consensus 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.