Verizon Communications (NYSE:VZ – Get Free Report) had its price objective lifted by analysts at Deutsche Bank Aktiengesellschaft from $40.00 to $42.00 in a report issued on Friday. The firm currently has a “hold” rating on the cell phone carrier’s stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 5.85% from the stock’s previous close.
Other equities analysts have also recently issued reports about the stock. Bank of America raised their price objective on shares of Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Tigress Financial lifted their price target on Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. Wolfe Research boosted their price target on Verizon Communications from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Scotiabank lifted their target price on Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.33.
Check Out Our Latest Stock Analysis on Verizon Communications
Verizon Communications Price Performance
Verizon Communications (NYSE:VZ – Get Free Report) last announced its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. During the same period last year, the company posted $1.08 EPS. As a group, equities analysts anticipate that Verizon Communications will post 4.59 EPS for the current fiscal year.
Institutional Trading of Verizon Communications
Several hedge funds have recently modified their holdings of VZ. Charles Schwab Investment Management Inc. grew its stake in shares of Verizon Communications by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 101,273,082 shares of the cell phone carrier’s stock worth $4,548,163,000 after purchasing an additional 5,936,009 shares during the period. Geode Capital Management LLC boosted its stake in shares of Verizon Communications by 2.2% in the third quarter. Geode Capital Management LLC now owns 95,824,245 shares of the cell phone carrier’s stock worth $4,289,054,000 after acquiring an additional 2,081,241 shares during the last quarter. Legal & General Group Plc increased its position in shares of Verizon Communications by 3.0% during the second quarter. Legal & General Group Plc now owns 38,357,031 shares of the cell phone carrier’s stock worth $1,581,848,000 after purchasing an additional 1,106,887 shares in the last quarter. FMR LLC raised its stake in Verizon Communications by 2.0% in the 3rd quarter. FMR LLC now owns 29,074,297 shares of the cell phone carrier’s stock valued at $1,305,727,000 after purchasing an additional 565,842 shares during the last quarter. Finally, Parnassus Investments LLC lifted its holdings in Verizon Communications by 2.8% in the 3rd quarter. Parnassus Investments LLC now owns 18,161,563 shares of the cell phone carrier’s stock valued at $815,636,000 after purchasing an additional 502,949 shares in the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.
Verizon Communications Company Profile
Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).
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