Published on 25 Mar 2024 on Insider Monkey via Yahoo Finance

Verizon Communications (VZ) Surged on Solid Earnings Results

Ariel Investments, an investment management company, released its “Ariel Global Fund” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the Ariel Global fund returned +8.40% gross of fees (+8.18% net of fees), compared to the MSCI ACWI Index’s +11.03%, and the MSCI ACWI Value Index’s +9.17% gains. The fund appreciated +13.96% gross of fees (+13.06% net of fees) over the trailing year, underperforming the MSCI ACWI Index’s +22.20% return and ahead of the MSCI ACWI Value Index’s +11.81% return. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Ariel Global Fund featured stocks like Verizon Communications Inc. (NYSE:VZ) in the fourth quarter 2023 investor letter. Headquartered in New York, New York, Verizon Communications Inc. (NYSE:VZ) offers communications, technology, information, and entertainment products and services. On March 22, 2024, Verizon Communications Inc. (NYSE:VZ) stock closed at $40.37 per share. One-month return of Verizon Communications Inc. (NYSE:VZ) was 1.71%, and its shares gained 6.10% of their value over the last 52 weeks. Verizon Communications Inc. (NYSE:VZ) has a market capitalization of $169.726 billion.

Ariel Global Fund stated the following regarding Verizon Communications Inc. (NYSE:VZ) in its fourth quarter 2023 investor letter: