Investors Sell Shares of Verizon Communications Inc. (NYSE:VZ) on Strength (NYSE:VZ)

Investors sold shares of Verizon Communications Inc. (NYSE:VZ) on strength during trading hours on Tuesday. $70.03 million flowed into the stock on the tick-up and $121.31 million flowed out of the stock on the tick-down, for a money net flow of $51.28 million out of the stock. Of all equities tracked, Verizon Communications had the 20th highest net out-flow for the day. Verizon Communications traded up $0.27 for the day and closed at $43.98

VZ has been the topic of several research analyst reports. Vetr raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $52.26 target price on the stock in a research report on Monday, March 27th. Zacks Investment Research raised shares of Verizon Communications from a “sell” rating to a “hold” rating in a research report on Friday, May 12th. Royal Bank Of Canada reissued a “hold” rating and set a $48.00 target price on shares of Verizon Communications in a research report on Sunday, July 9th. Barclays PLC dropped their target price on shares of Verizon Communications from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 13th. Finally, TheStreet downgraded shares of Verizon Communications from a “b-” rating to a “c” rating in a research report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Verizon Communications currently has an average rating of “Hold” and a consensus target price of $53.23.

The firm has a 50-day moving average price of $44.99 and a 200-day moving average price of $47.72. The company has a market capitalization of $179.41 billion, a P/E ratio of 14.71 and a beta of 0.54.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be issued a $0.5775 dividend. This represents a $2.31 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date is Thursday, July 6th. Verizon Communications’s dividend payout ratio (DPR) is currently 77.00%.

In other news, EVP Marni M. Walden sold 16,362 shares of Verizon Communications stock in a transaction on Monday, May 1st. The stock was sold at an average price of $46.08, for a total transaction of $753,960.96. Following the completion of the transaction, the executive vice president now owns 11,797 shares of the company’s stock, valued at approximately $543,605.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $45.00, for a total value of $27,450.00. Following the transaction, the executive vice president now directly owns 8,429 shares of the company’s stock, valued at approximately $379,305. The disclosure for this sale can be found here. In the last three months, insiders sold 18,192 shares of company stock valued at $837,958. 0.13% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citizens & Northern Corp increased its position in Verizon Communications by 15.7% in the fourth quarter. Citizens & Northern Corp now owns 12,649 shares of the cell phone carrier’s stock valued at $675,000 after buying an additional 1,718 shares during the period. Massmutual Trust Co. FSB ADV purchased a new position in Verizon Communications during the fourth quarter valued at about $4,774,000. Sunbelt Securities Inc. purchased a new position in Verizon Communications during the fourth quarter valued at about $115,000. Fiduciary Financial Services of The Southwest Inc. TX increased its position in Verizon Communications by 0.6% in the fourth quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 102,396 shares of the cell phone carrier’s stock valued at $5,466,000 after buying an additional 622 shares during the period. Finally, Gyroscope Capital Management Group LLC increased its position in Verizon Communications by 36.5% in the fourth quarter. Gyroscope Capital Management Group LLC now owns 6,193 shares of the cell phone carrier’s stock valued at $331,000 after buying an additional 1,656 shares during the period. 62.61% of the stock is owned by institutional investors and hedge funds.

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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.

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