Traders Buy Verizon Communications Inc. (VZ) on Weakness
Traders purchased shares of Verizon Communications Inc. (NYSE:VZ) on weakness during trading hours on Monday. $140.25 million flowed into the stock on the tick-up and $71.16 million flowed out of the stock on the tick-down, for a money net flow of $69.09 million into the stock. Of all companies tracked, Verizon Communications had the 5th highest net in-flow for the day. Verizon Communications traded down ($0.05) for the day and closed at $47.92
VZ has been the topic of a number of research analyst reports. Vetr upgraded Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 target price on the stock in a research report on Wednesday, July 5th. Zacks Investment Research upgraded Verizon Communications from a “sell” rating to a “hold” rating in a research report on Friday, May 12th. Royal Bank Of Canada reiterated a “hold” rating and set a $48.00 target price on shares of Verizon Communications in a research report on Sunday, July 9th. BidaskClub upgraded Verizon Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Verizon Communications in a research report on Wednesday, June 28th. Two 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 given a strong buy rating to the company’s stock. Verizon Communications presently has an average rating of “Hold” and a consensus price target of $52.73.
The company has a 50 day moving average of $47.20 and a 200 day moving average of $47.27. The stock has a market cap of $195.49 billion, a price-to-earnings ratio of 12.32 and a beta of 0.57.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.96. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The business had revenue of $30.55 billion for the quarter, compared to analyst estimates of $29.84 billion. During the same quarter last year, the business earned $0.94 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts expect that Verizon Communications Inc. will post $3.78 earnings per share for the current fiscal year.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $47.74, for a total value of $29,121.40. Following the transaction, the executive vice president now owns 7,819 shares in the company, valued at $373,279.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 1,830 shares of company stock worth $86,248 in the last quarter. Company insiders own 0.13% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Intl Fcstone Inc. boosted its stake in Verizon Communications by 25.9% in the 2nd quarter. Intl Fcstone Inc. now owns 51,637 shares of the cell phone carrier’s stock worth $2,306,000 after purchasing an additional 10,621 shares during the period. M Holdings Securities Inc. boosted its stake in Verizon Communications by 77.5% in the 2nd quarter. M Holdings Securities Inc. now owns 32,947 shares of the cell phone carrier’s stock worth $1,471,000 after purchasing an additional 14,386 shares during the period. Griffin Asset Management Inc. acquired a new position in Verizon Communications in the 2nd quarter worth approximately $4,906,000. Brookfield Asset Management Inc. acquired a new position in Verizon Communications in the 2nd quarter worth approximately $1,139,000. Finally, Paradigm Financial Advisors LLC boosted its stake in Verizon Communications by 3.1% in the 2nd quarter. Paradigm Financial Advisors LLC now owns 9,832 shares of the cell phone carrier’s stock worth $439,000 after purchasing an additional 296 shares during the period. 62.33% of the stock is owned by hedge funds and other institutional investors.
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Verizon Communications Company Profile
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.