Traders Sell Verizon Communications Inc. (VZ) on Strength (VZ)
Investors sold shares of Verizon Communications Inc. (NYSE:VZ) on strength during trading hours on Monday. $76.93 million flowed into the stock on the tick-up and $137.97 million flowed out of the stock on the tick-down, for a money net flow of $61.04 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 $0.43 for the day and closed at $52.50
A number of equities analysts have commented on the stock. Jefferies Group reaffirmed a “hold” rating and issued a $53.00 price objective on shares of Verizon Communications in a report on Saturday, June 4th. Argus reaffirmed a “buy” rating on shares of Verizon Communications in a report on Sunday, June 12th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $52.00 price objective (up previously from $50.00) on shares of Verizon Communications in a report on Thursday, June 16th. Morgan Stanley lifted their price objective on shares of Verizon Communications from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, July 28th. Finally, Vetr raised shares of Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $57.23 price objective for the company in a report on Monday, May 2nd. Twenty-three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $54.42.
The firm’s 50-day moving average is $54.24 and its 200-day moving average is $52.71. The firm has a market cap of $214.01 billion and a P/E ratio of 14.83.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, July 26th. The cell phone carrier reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02. During the same period in the prior year, the firm posted $1.04 EPS. The business earned $30.53 billion during the quarter, compared to analyst estimates of $30.95 billion. Verizon Communications’s revenue for the quarter was down 5.3% compared to the same quarter last year. Equities analysts forecast that Verizon Communications Inc. will post $3.89 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 8th were paid a dividend of $0.565 per share. This represents a $2.26 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Wednesday, July 6th.
In other 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 transaction, the executive vice president now owns 11,870 shares of the company’s stock, valued at $647,627.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Several institutional investors have recently modified their holdings of VZ. First Heartland Consultants Inc. raised its position in shares of Verizon Communications by 1.5% in the fourth quarter. First Heartland Consultants Inc. now owns 24,397 shares of the cell phone carrier’s stock valued at $1,128,000 after buying an additional 364 shares during the period. Baxter Bros Inc. raised its position in Verizon Communications by 11.2% in the fourth quarter. Baxter Bros Inc. now owns 31,510 shares of the cell phone carrier’s stock valued at $1,456,000 after buying an additional 3,171 shares during the last quarter. Wellington Shields & Co. LLC raised its position in Verizon Communications by 7.3% in the fourth quarter. Wellington Shields & Co. LLC now owns 47,658 shares of the cell phone carrier’s stock valued at $2,203,000 after buying an additional 3,230 shares during the last quarter. Calamos Wealth Management LLC raised its position in Verizon Communications by 1.8% in the fourth quarter. Calamos Wealth Management LLC now owns 48,171 shares of the cell phone carrier’s stock valued at $2,226,000 after buying an additional 831 shares during the last quarter. Finally, TrimTabs Asset Management LLC raised its position in Verizon Communications by 1.9% in the fourth quarter. TrimTabs Asset Management LLC now owns 49,528 shares of the cell phone carrier’s stock valued at $2,289,000 after buying an additional 924 shares during the last quarter.
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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