Verizon Q2 Holdings
Major Institutional Investors Adjust Verizon Holdings and Positions in Q2 Filings
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Key Points
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Quantbot Technologies LP initiated a new Verizon position in the second quarter, purchasing about 48,944 shares for a total value of roughly $497,000, and Farringdon Capital Ltd. also opened a new Verizon stake in the quarter valued at about $243,000.
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Bank of Nova Scotia reduced its Verizon stake by 14.9% to 2,229,826 shares, with the position valued at approximately $94.41 million at the end of the period.
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Analysts adjusted Verizon price targets higher in late July, with Scotiabank increasing its target to $52.50 and TD Cowen raising to $56; Royal Bank of Canada also upped its objective to $47.
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Other notable adds in holdings include Daiichi Life Insurance Co. Ltd. increasing to 453,618 Verizon shares (up 7.4%), CFO4Life Group LLC increasing to 11,059 shares (up 13.9%), and W1M Asset Management Ltd raising its stake by about 11% to 25,239 shares.
Major institutional investors made sweeping changes to their Verizon Communications stakes in Q2, with some bulking up while others trimmed positions. Watchlist News reported that Elevation Point Wealth Partners boosted its holding by 37.6% to 179,369 shares worth roughly $7.6 million, while Promethos Capital cut its stake by 36.3% to 86,010 shares. The activity reflects a highly active institutional environment around the telecom giant, which trades in a volatile band between $38 and $52 per share over the past 52 weeks.
Institutional ownership of Verizon sits around 62.06%, with movements ranging from aggressive buying to substantial sell-offs. Ticker Report showed that several major holders adjusted positions, including Bank of Nova Scotia cutting its stake by 14.9% to 2.2 million shares valued at roughly $94.4 million, while several newcomers entered the stock for the first time in Q2.
Major Sellers Strip Holdings as Others Dive In
Promethos Capital slashed its Verizon position by over one-third, cutting 36.3% from its holdings to make Verizon its roughly 23rd largest holding with 86,010 shares remaining. Watchlist News also reported that Osmosis Investment Management UK Ltd dumped 77.8% of its stake, retaining just 71,122 shares. Pinnacle Holdings LLC went even further, selling 85.9% of its position down to just 1,852 shares.
On the flip side, fresh money entered the stock. Watchlist News noted that Quantbot Technologies LP initiated a new position with 48,944 shares worth around $497,000, while Farringdon Capital Ltd. also opened a stake valued at approximately $243,000. Daiichi Life Insurance Co. Ltd. expanded its holding by 7.4% to 453,618 shares.
Bank of Nova Scotia and Commerce Bank Pare Back Stakes
Bank of Nova Scotia reduced its Verizon exposure by 14.9% during the quarter, scaling back to 2,229,826 shares valued at $94.41 million at period end. Ticker Report reported that Commerce Bank also trimmed its stake by 3.9% to 544,811 shares, signaling caution from two major financial institutions. Haverford Trust Co made a smaller 1.7% cut to 600,020 shares.
Analyst Price Targets Rise on Improving Outlook
Institutional moves came alongside analyst upgrades in late July. Scotiabank increased its Verizon price target to $52.50, while TD Cowen raised its objective to $56—both bullish signals. Royal Bank of Canada also boosted its target to $47, suggesting growing confidence in the telecom's outlook. These upgrades may explain some of the buying activity from new and existing positions in Q2.
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