NEW YORK (TheStreet) -- Shares of Verizon Communications Inc. (VZ) are up 1.73% to $48.79 in pre-market trade as Warren Buffett, John Paulson and Daniel Loeb buy up the telecommunications company's stock.
Each of their companies separately picked up stakes in the company amid a wave of deal making in the sector, the Wall Street Journal reports.
The disclosures were among many big positions revealed on the quarterly date when investors who manage more than $100 million must disclose their securities holdings to the SEC, the Journal noted.
Berkshire Hathaway had a Verizon stake valued at about $524 million as of the end of March. Paulson's new Verizon stake was worth $415.9 million at the end of the quarter, filings show. Loeb's Third Point LLC reported stake in Verizon was $166 million.
TheStreet Ratings team rates VERIZON COMMUNICATIONS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate VERIZON COMMUNICATIONS INC (VZ) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins, compelling growth in net income and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."