Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Axa S.A.

Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Axa S.A.

  • 9 hours ago
  • marketbeat.com
  • Keywords: Verizon Communications Inc., Axa S.A.

Axa S.A. increased its stake in Verizon Communications by 6.1% in the 4th quarter. Analysts have a "Moderate Buy" rating with an average price target of $47.41. Verizon also announced a quarterly dividend of $0.6775 per share, yielding 6.20%.

Verizon newsVZsentiment_satisfied
open_in_newOriginal article

Estimated market influence

Verizon Communications Inc.

Verizon Communications Inc.

Positivesentiment_satisfied
Analyst rating: Buy

Axa S.A. boosted its position in Verizon Communications Inc., indicating confidence in the company's future performance. Additionally, several other institutional investors and hedge funds have increased their stakes in Verizon, reflecting positive market sentiment.

Axa S.A.

Positivesentiment_satisfied
Analyst rating: N/A

Axa S.A.'s increased investment in Verizon Communications Inc. suggests a strategic move to enhance its portfolio with a stable telecommunications giant, aligning with potential growth opportunities in the sector.

Context

Analysis of Verizon Communications Inc. (NYSE:VZ)

Ownership Trends

  • Axa S.A. Increased Stake: Axa S.A. boosted its position by 6.1% in Q4, holding 1,464,774 shares worth $58.576 million.
  • Other Investors Activity:
    • Mainstream Capital Management LLC: New stake of ~$28,000.
    • Legend Financial Advisors Inc.: Increased holdings by 69.6%, now owning 780 shares worth $31,000.
    • Graney & King LLC: New stake of ~$32,000.
    • Compass Financial Services Inc.: New stake of ~$33,000.
    • Hager Investment Management Services LLC: New stake of ~$38,000.
  • Institutional Ownership: 62.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast

  • Rating Consensus: Nine analysts rated "Hold," eight rated "Buy," and two rated "Strong Buy." MarketBeat.com assigns a consensus rating of "Moderate Buy."
  • Price Target: Average price target is $47.41.
  • Recent Upgrades:
    • Oppenheimer: Raised from $48 to $50 with "Outperform" rating.
    • TD Cowen: Upgraded to "Strong-Buy."
    • Evercore ISI: Upgraded from "In-line" to "Outperform."

Insider Trading

  • EVP Sale: Sold 10,000 shares at an average price of $43.79, reducing ownership by 40.88%.
  • CEO Sale: Sold 8,000 shares at an average price of $39.88, reducing ownership by 54.83%.
  • Total Insider Sales: 30,500 shares sold over the last three months, valued at $1.298 million.

Financial Performance

  • Market Cap: $184.42 billion.
  • P/E Ratio: 10.57.
  • PEG Ratio: 4.45.
  • Beta: 0.39.
  • Revenue: Q4 revenue of $33.50 billion, beating estimates of $33.31 billion.
  • EPS: Q4 EPS of $1.19 vs. consensus estimate of $1.15.
  • Dividend:
    • Quarterly dividend of $0.6775 per share (annualized $2.71).
    • Dividend yield: 6.20%.
    • Payout ratio: 64.52%.

Business Overview

  • Verizon Communications operates in two segments:
    • Verizon Consumer Group: Provides services to consumers.
    • Verizon Business Group: Serves businesses and governmental entities.

This analysis highlights the strategic shifts in institutional ownership, analyst sentiment, insider activity, and financial performance, providing a comprehensive view of Verizon's market position and business dynamics.