Stonnington Group LLC, a hedge fund, has reduced its position in Verizon Communications Inc. by almost 50% in Q4 2022, according to its recent SEC filing. The firm sold 5,050 shares of Verizon’s stock (NYE:VZ), leaving it with 5,075 shares worth $213,000. Other institutional investors also made changes to their holdings, including HBC Financial Services PLLC, Western Pacific Wealth Management LP, Hoese & Co LLP, Ten Capital Wealth Advisors LLC, and Avion Wealth. Meanwhile, Verizon has been the subject of various analyst reports. The company’s consensus rating is “Hold,” with an average price target of $47.63. CEO Kyle Malady has sold 6,226 shares of the company’s stock, valued at $228,431.94, with 67,966 shares remaining. Verizon Communications Inc. has a 12-month low of $34.55 and a 12-month high of $55.51, with shares opening at $36.79. It has a market cap of $154.51 billion, a P/E ratio of 7.27, and a beta of 0.36. The firm posted a quarterly revenue of $35.30 billion, while its net margin was 15.53% and its return on equity was 24.60%. The company is predicted to post an EPS of 4.69 for the current fiscal year. It has also recently declared a quarterly dividend.
Verizon Communications Stock Analysis
Verizon Communications Inc’s future looks promising, according to 20 analysts who predict an average target price of USD 45.26 within the next 12 months, and the company has an overall “Buy” rating. Additionally, Stock Target Advisor’s analysis is “Bullish” based on 9 positive and 3 negative signals. Currently, Verizon Communications Inc’s stock price is USD 36.79, which is a slight increase of 0.30% over the past week, but a decrease of 8.53% over the past month and 27.58% over the last year.
Company Overview
Verizon Communications Inc. is a global telecommunications company that offers a range of products and services to consumers, businesses, and government entities. It operates in two segments, Consumer and Business, providing wireless and wireline services, broadband, IoT products, and managed network services. The company was founded in 1983 and is headquartered in New York, New York.
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