Verizon's Strong Institutional Backing: Credit Capital and Others Adjust Stakes

November 14, 2024 04:30 PM AEDT | By Team Kalkine Media

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Verizon's Strong Institutional Backing: Credit Capital and Others Adjust Stakes — Image source: Shutterstock

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Summary Points:

Credit Capital Investments LLC adjusts its stake in Verizon Communications
Other major investors show interest in Verizon stock
Institutional investors hold a significant portion of Verizon's shares

Credit Capital Investments LLC has made adjustments to its holdings in Verizon Communications Inc. (NYSE:VZ). As of the most recent quarter, the firm reduced its stake by 9.5%, now owning approximately 166,000 shares of the telecom giant. This represents 9.2% of the firm’s portfolio, making Verizon one of its largest positions. The firm's holdings in Verizon were valued at over $7 million at the end of the quarter.

Alongside Credit Capital, other institutional investors have recently made moves regarding Verizon. Koesten Hirschmann & Crabtree Inc. acquired a fresh stake in Verizon in the first quarter, while Capital Performance Advisors LLP entered the scene with a new stake in the third quarter. Mizuho Securities Co. Ltd. and MFA Wealth Advisors LLC also increased their stakes in the second quarter. Notably, Accordant Advisory Group Inc. boosted its position in Verizon by a significant margin in the third quarter, raising its stake by nearly 138%.

Verizon Communications continues to attract attention from a variety of institutional investors, with over 62% of its stock now held by these entities. This continued interest reflects Verizon's strong standing within the telecom industry. As more firms adjust their portfolios, the focus on Verizon and its potential for stability and growth remains prominent among institutional stakeholders.

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