Traders Sell Shares of Verizon Communications Inc. (VZ) on Strength (VZ)
Investors sold shares of Verizon Communications Inc. (NYSE:VZ) on strength during trading on Thursday. $69.25 million flowed into the stock on the tick-up and $93.11 million flowed out of the stock on the tick-down, for a money net flow of $23.86 million out of the stock. Of all companies tracked, Verizon Communications had the 0th highest net out-flow for the day. Verizon Communications traded up $0.05 for the day and closed at $53.86
A number of research analysts have commented on VZ shares. Jefferies Group reiterated a “hold” rating and set a $53.00 price target on shares of Verizon Communications in a research report on Saturday, June 4th. Hilliard Lyons cut shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $53.00 price target on the stock. in a research report on Wednesday, July 27th. FBR & Co reiterated a “buy” rating and set a $54.00 price target on shares of Verizon Communications in a research report on Saturday, April 23rd. Vetr lowered Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $56.36 price objective for the company. in a research note on Monday, May 30th. Finally, Argus reissued a “buy” rating on shares of Verizon Communications in a research note on Sunday, June 12th. Twenty-three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Verizon Communications currently has an average rating of “Hold” and an average price target of $54.38.
The stock’s 50 day moving average price is $55.11 and its 200-day moving average price is $52.40. The stock has a market capitalization of $219.75 billion and a price-to-earnings ratio of 15.23.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, July 26th. The cell phone carrier reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02. The company had revenue of $30.53 billion for the quarter, compared to analysts’ expectations of $30.95 billion. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 earnings per share. Analysts anticipate that Verizon Communications Inc. will post $3.90 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 8th were paid a dividend of $0.565 per share. This represents a $2.26 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Wednesday, July 6th.
In related news, EVP Craig L. Silliman sold 672 shares of the company’s stock in a transaction on Friday, June 24th. The stock was sold at an average price of $54.56, for a total transaction of $36,664.32. Following the completion of the sale, the executive vice president now directly owns 11,870 shares in the company, valued at approximately $647,627.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Other large investors recently modified their holdings of the company. Agran Libbie boosted its stake in shares of Verizon Communications by 9,922.0% in the fourth quarter. Agran Libbie now owns 16,100,284 shares of the cell phone carrier’s stock worth $7,442,000 after buying an additional 15,939,635 shares during the period. Boston Partners boosted its stake in shares of Verizon Communications by 35.7% in the fourth quarter. Boston Partners now owns 13,662,183 shares of the cell phone carrier’s stock worth $631,466,000 after buying an additional 3,590,873 shares during the period. LSV Asset Management boosted its stake in shares of Verizon Communications by 1.2% in the fourth quarter. LSV Asset Management now owns 12,882,775 shares of the cell phone carrier’s stock worth $595,441,000 after buying an additional 153,085 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Verizon Communications by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,155,993 shares of the cell phone carrier’s stock worth $561,919,000 after buying an additional 922,163 shares during the period. Finally, American International Group Inc. boosted its stake in shares of Verizon Communications by 14.1% in the fourth quarter. American International Group Inc. now owns 9,484,470 shares of the cell phone carrier’s stock worth $438,372,000 after buying an additional 1,171,045 shares during the period.
Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.
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