Investors Buy Verizon Communications Inc. (VZ) on Weakness
Investors bought shares of Verizon Communications Inc. (NYSE:VZ) on weakness during trading on Tuesday. $114.13 million flowed into the stock on the tick-up and $76.90 million flowed out of the stock on the tick-down, for a money net flow of $37.23 million into the stock. Of all stocks tracked, Verizon Communications had the 20th highest net in-flow for the day. Verizon Communications traded down ($0.56) for the day and closed at $47.36
A number of research analysts have recently issued reports on the stock. Bank of America Corporation restated a “buy” rating on shares of Verizon Communications in a research report on Saturday, June 17th. Royal Bank Of Canada reiterated a “hold” rating and issued a $48.00 price objective on shares of Verizon Communications in a research note on Sunday, July 9th. Zacks Investment Research lowered shares of Verizon Communications from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. TheStreet upgraded shares of Verizon Communications from a “c+” rating to a “b-” rating in a research note on Tuesday, August 8th. Finally, Vetr upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $47.62 price objective for the company in a research note on Tuesday, May 23rd. Two analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Verizon Communications presently has an average rating of “Hold” and an average price target of $52.73.
The company has a market cap of $191.37 billion, a P/E ratio of 12.06 and a beta of 0.57. The firm has a 50-day moving average of $47.51 and a 200-day moving average of $47.24.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The company had revenue of $30.55 billion for the quarter, compared to analysts’ expectations of $29.84 billion. During the same period in the previous year, the firm earned $0.94 EPS. The firm’s revenue was up .1% compared to the same quarter last year. On average, equities analysts anticipate that Verizon Communications Inc. will post $3.78 EPS for the current year.
In related news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $48.65, for a total value of $29,676.50. Following the transaction, the executive vice president now directly owns 7,209 shares of the company’s stock, valued at approximately $350,717.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 1,830 shares of company stock worth $86,248. 0.13% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Franklin Parlapiano Turner & Welch LLC bought a new stake in Verizon Communications in the 1st quarter worth approximately $136,000. American Beacon Advisors Inc. bought a new stake in Verizon Communications in the 1st quarter worth approximately $140,000. Proficio Capital Partners LLC increased its position 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 valued at $142,000 after purchasing an additional 1,841 shares during the last quarter. Private Vista LLC increased its position 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 valued at $143,000 after purchasing an additional 378,225 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc bought a new position in shares of Verizon Communications during the 2nd quarter valued at approximately $156,000. 62.33% of the stock is currently owned by institutional investors and hedge funds.
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.
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