Traders Sell Shares of Verizon Communications Inc. (VZ) on Strength (VZ)
Traders sold shares of Verizon Communications Inc. (NYSE:VZ) on strength during trading hours on Monday. $97.12 million flowed into the stock on the tick-up and $141.41 million flowed out of the stock on the tick-down, for a money net flow of $44.29 million out of the stock. Of all companies tracked, Verizon Communications had the 13th highest net out-flow for the day. Verizon Communications traded up $0.32 for the day and closed at $52.88
A number of research analysts have recently commented on VZ shares. Vetr cut Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $57.01 target price for the company. in a research note on Monday, May 9th. Jefferies Group restated a “hold” rating on shares of Verizon Communications in a research note on Friday. Barclays PLC restated an “equal weight” rating and issued a $52.00 target price on shares of Verizon Communications in a research note on Friday, August 26th. Zacks Investment Research cut Verizon Communications from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Finally, Robert W. Baird restated a “neutral” rating and issued a $54.00 target price on shares of Verizon Communications in a research note on Tuesday, June 28th. Twenty-three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Verizon Communications has a consensus rating of “Hold” and an average target price of $54.50.
The company’s 50-day moving average is $53.87 and its 200 day moving average is $52.72. The firm has a market cap of $215.55 billion and a price-to-earnings ratio of 14.94.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, July 26th. The cell phone carrier reported $0.94 EPS for the quarter, beating the consensus estimate of $0.92 by $0.02. During the same quarter in the prior year, the company posted $1.04 EPS. The business had revenue of $30.53 billion for the quarter, compared to analysts’ expectations of $30.95 billion. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. Analysts predict that Verizon Communications Inc. will post $3.89 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be issued a dividend of $0.0125 per share. The ex-dividend date is Wednesday, October 5th. This represents a $0.05 annualized dividend and a dividend yield of 0.09%.
In related news, EVP Craig L. Silliman sold 672 shares of the firm’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $54.81, for a total value of $36,832.32. Following the completion of the transaction, the executive vice president now owns 11,198 shares in the company, valued at approximately $613,762.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
A number of institutional investors have recently modified their holdings of VZ. TrimTabs Asset Management LLC raised its position in shares of 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 worth $2,289,000 after buying an additional 924 shares during the period. Courier Capital Corp raised its position in shares of Verizon Communications by 2.0% in the fourth quarter. Courier Capital Corp now owns 53,107 shares of the cell phone carrier’s stock worth $2,455,000 after buying an additional 1,032 shares during the period. Apriem Advisors raised its position in shares of Verizon Communications by 3.3% in the fourth quarter. Apriem Advisors now owns 60,148 shares of the cell phone carrier’s stock worth $2,780,000 after buying an additional 1,900 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in shares of Verizon Communications by 51.7% in the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 71,580 shares of the cell phone carrier’s stock worth $3,309,000 after buying an additional 24,400 shares during the period. Finally, Alerus Investment Advisors Corp raised its position in shares of Verizon Communications by 17.0% in the fourth quarter. Alerus Investment Advisors Corp now owns 136,351 shares of the cell phone carrier’s stock worth $6,302,000 after buying an additional 19,842 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.