Investors Sell Verizon Communications Inc. (VZ) on Strength (VZ)

Traders sold shares of Verizon Communications Inc. (NYSE:VZ) on strength during trading hours on Tuesday. $58.63 million flowed into the stock on the tick-up and $180.47 million flowed out of the stock on the tick-down, for a money net flow of $121.84 million out of the stock. Of all equities tracked, Verizon Communications had the highest net out-flow for the day. Verizon Communications traded up $0.31 for the day and closed at $48.40

VZ has been the topic of several research analyst reports. Vetr upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $47.44 price objective on the stock in a research report on Wednesday, June 21st. Cowen and Company restated a “hold” rating and issued a $49.00 price objective on shares of Verizon Communications in a research report on Wednesday, July 19th. Barclays PLC lowered their price objective on Verizon Communications from $49.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Friday, July 14th. Jefferies Group LLC restated a “hold” rating and issued a $50.00 price objective on shares of Verizon Communications in a research report on Monday, July 3rd. Finally, KeyCorp restated a “hold” rating on shares of Verizon Communications in a research report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $52.86.

The company’s 50-day moving average price is $48.46 and its 200-day moving average price is $47.01. The firm has a market cap of $197.44 billion, a PE ratio of 12.44 and a beta of 0.56.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.96. The business had revenue of $30.55 billion during the quarter, compared to the consensus estimate of $29.84 billion. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 EPS. Equities analysts forecast that Verizon Communications Inc. will post $3.76 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.59 per share. The ex-dividend date is Friday, October 6th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.88%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s dividend payout ratio (DPR) is currently 60.51%.

In other news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $48.65, for a total transaction of $29,676.50. Following the completion of the sale, the executive vice president now owns 7,209 shares in the company, valued at approximately $350,717.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 1,830 shares of company stock valued at $88,828 in the last 90 days. Insiders own 0.13% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of Verizon Communications during the 1st quarter worth approximately $136,000. American Beacon Advisors Inc. acquired a new stake in shares of Verizon Communications during the 1st quarter worth approximately $140,000. Proficio Capital Partners LLC increased its holdings in shares of Verizon Communications by 139.8% during the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after buying an additional 1,841 shares during the last quarter. Private Vista LLC increased its holdings in shares of Verizon Communications by 3,339.1% during the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after buying an additional 378,225 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc acquired a new stake in shares of Verizon Communications during the 2nd quarter worth approximately $156,000. Institutional investors and hedge

VZ has been the topic of several research analyst reports. Vetr upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $47.44 price objective on the stock in a research report on Wednesday, June 21st. Cowen and Company restated a “hold” rating and issued a $49.00 price objective on shares of Verizon Communications in a research report on Wednesday, July 19th. Barclays PLC lowered their price objective on Verizon Communications from $49.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Friday, July 14th. Jefferies Group LLC restated a “hold” rating and issued a $50.00 price objective on shares of Verizon Communications in a research report on Monday, July 3rd. Finally, KeyCorp restated a “hold” rating on shares of Verizon Communications in a research report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $52.86.

The company’s 50-day moving average price is $48.46 and its 200-day moving average price is $47.01. The firm has a market cap of $197.44 billion, a PE ratio of 12.44 and a beta of 0.56.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.96. The business had revenue of $30.55 billion during the quarter, compared to the consensus estimate of $29.84 billion. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 EPS. Equities analysts forecast that Verizon Communications Inc. will post $3.76 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.59 per share. The ex-dividend date is Friday, October 6th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.88%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s dividend payout ratio (DPR) is currently 60.51%.

In other news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $48.65, for a total transaction of $29,676.50. Following the completion of the sale, the executive vice president now owns 7,209 shares in the company, valued at approximately $350,717.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 1,830 shares of company stock valued at $88,828 in the last 90 days. Insiders own 0.13% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of Verizon Communications during the 1st quarter worth approximately $136,000. American Beacon Advisors Inc. acquired a new stake in shares of Verizon Communications during the 1st quarter worth approximately $140,000. Proficio Capital Partners LLC increased its holdings in shares of Verizon Communications by 139.8% during the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after buying an additional 1,841 shares during the last quarter. Private Vista LLC increased its holdings in shares of Verizon Communications by 3,339.1% during the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after buying an additional 378,225 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc acquired a new stake in shares of Verizon Communications during the 2nd quarter worth approximately $156,000. Institutional investors and hedge funds own 62.22% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece of content was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/10/17/investors-sell-verizon-communications-inc-vz-on-strength-vz.html.

About Verizon Communications

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

Receive News & Ratings for Verizon Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply