Traders Sell Verizon Communications (VZ) on Strength (VZ)
Traders sold shares of Verizon Communications Inc. (NYSE:VZ) on strength during trading on Wednesday. $78.17 million flowed into the stock on the tick-up and $188.71 million flowed out of the stock on the tick-down, for a money net flow of $110.54 million out of the stock. Of all equities tracked, Verizon Communications had the 0th highest net out-flow for the day. Verizon Communications traded up $0.06 for the day and closed at $51.72
A number of equities analysts have weighed in on the stock. Moffett Nathanson downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday. KeyCorp raised their target price on shares of Verizon Communications from $50.00 to $53.00 and gave the company a “sector weight” rating in a research note on Tuesday, January 2nd. HSBC downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating and decreased their target price for the company from $54.83 to $42.80 in a research note on Thursday, December 14th. They noted that the move was a valuation call. Instinet raised their target price on shares of Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Finally, Nomura raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and raised their target price for the company from $47.00 to $61.00 in a research note on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $51.98.
The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. The company has a market capitalization of $209,380.00, a PE ratio of 13.15, a P/E/G ratio of 4.63 and a beta of 0.57.
Verizon Communications (NYSE:VZ) last posted its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting analysts’ consensus estimates of $0.98. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The business had revenue of $31.70 billion during the quarter, compared to the consensus estimate of $31.45 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The firm’s revenue was up 2.5% on a year-over-year basis. research analysts predict that Verizon Communications Inc. will post 3.77 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend is Tuesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 60.51%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $47.41, for a total value of $28,920.10. Following the completion of the sale, the executive vice president now owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.13% of the company’s stock.
A number of large investors have recently bought and sold shares of VZ. Oakmont Partners LLC boosted its stake in shares of Verizon Communications by 0.3% during the 2nd quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock worth $285,000 after acquiring an additional 22 shares during the last quarter. Regal Wealth Group Inc. boosted its stake in shares of Verizon Communications by 0.7% during the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after acquiring an additional 24 shares during the last quarter. Glassman Wealth Services boosted its stake in shares of Verizon Communications by 0.4% during the 2nd quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock worth $345,000 after acquiring an additional 31 shares during the last quarter. Nottingham Advisors Inc. boosted its stake in shares of Verizon Communications by 0.5% during the 2nd quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock worth $287,000 after acquiring an additional 35 shares during the last quarter. Finally, Camden National Bank boosted its stake in shares of Verizon Communications by 0.7% during the 2nd quarter. Camden National Bank now owns 4,972 shares of the cell phone carrier’s stock worth $222,000 after acquiring an additional 37 shares during the last quarter. 63.22% of the stock is owned by institutional investors and hedge funds.
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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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