Horizon Investments LLC divested 196,136 shares of Verizon Communications Inc., trimming its stake by 39.9 percent during the fourth quarter, according to Holdings Channel.com. The fund retained 295,631 shares valued at $11.8 million after the reduction.
The divestment by Horizon contrasts with moves by other institutional investors, who have been adding to their Verizon positions. SBI Securities Co. Ltd. increased its holding by 4.3 percent during the third quarter to 335,856 shares worth $14.8 million. Avanza Fonder AB expanded its stake by 5.6 percent in the fourth quarter, now owning 331,962 shares valued at $13.5 million. Stratos Wealth Partners LTD. boosted its position by 14 percent during the third quarter, purchasing an additional 46,699 shares to reach 379,174 shares worth $16.7 million.
Additional institutional players have similarly increased exposure. Econ Financial Services Corp raised its stake by 23.5 percent in the fourth quarter to 78,172 shares worth $3.2 million, while Wedbush Securities Inc. expanded its holding by 18.4 percent during the third quarter, now owning 140,981 shares valued at $6.2 million. Collectively, hedge funds and institutional investors control 62.06 percent of Verizon's outstanding stock.
Recent analyst activity has generated mixed signals. Evercore raised its price target from $48 to $50 with an outperform rating, while JPMorgan Chase increased its target from $49 to $52 and maintained a neutral rating. Royal Bank of Canada lifted its target from $44 to $48 with a sector perform rating, and Citigroup boosted its price target to $55 with a buy rating. KeyCorp reiterated a sector weight rating. Across the analyst community, two firms have assigned strong buy ratings, nine have issued buy recommendations, and ten have given hold ratings, resulting in an average consensus price target of $50.59.
Company insiders have also been active. Director Hans Erik Vestberg sold 200,000 shares on February 24 at an average price of $49.61, generating $9.9 million in proceeds and reducing his ownership stake by 57.96 percent. Executive Vice President Joseph J. Russo sold 9,579 shares on February 2 at $44.88 per share, decreasing his holdings by 17.86 percent. Over the past 90 days, insiders have sold 218,148 shares worth approximately $10.8 million. Company insiders overall own just 0.03 percent of outstanding stock.
Verizon reported first-quarter earnings on April 27, posting earnings per share of $1.28, exceeding analyst expectations of $1.21. The company generated $34.4 billion in quarterly revenue, compared with analyst estimates of $34.8 billion, and achieved a 2.7 percent year-over-year revenue increase. The firm has provided fiscal 2026 guidance of $4.95 to $4.99 earnings per share. Verizon's stock traded at $48.17 on Friday, with a 50-day moving average of $48.94 and a 200-day moving average of $44. The company carries a market capitalization of $201.4 billion and trades at a price-to-earnings multiple of 11.75.
