Investors Sell Shares of Verizon Communications (VZ) on Strength (VZ)

Traders sold shares of Verizon Communications Inc. (NYSE:VZ) on strength during trading on Wednesday. $96.48 million flowed into the stock on the tick-up and $151.47 million flowed out of the stock on the tick-down, for a money net flow of $54.99 million out of the stock. Of all stocks tracked, Verizon Communications had the 8th highest net out-flow for the day. Verizon Communications traded up $0.08 for the day and closed at $51.69

Several equities research analysts recently commented on VZ shares. Wells Fargo & Co raised Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research note on Monday, November 20th. Instinet upped their target price on Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Nomura raised Verizon Communications from a “neutral” rating to a “buy” rating and upped their target price for the stock from $47.00 to $61.00 in a research report on Tuesday, December 12th. SunTrust Banks reaffirmed a “hold” rating and set a $50.00 target price on shares of Verizon Communications in a research report on Friday, October 20th. Finally, Bank of America set a $52.00 target price on Verizon Communications and gave the stock a “buy” rating in a research report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $51.98.

The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. The firm has a market cap of $210,870.00, a PE ratio of 13.25, a price-to-earnings-growth ratio of 4.80 and a beta of 0.57.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, meeting the consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The company had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. During the same period in the prior year, the business earned $1.01 earnings per share. Verizon Communications’s revenue for the quarter was up 2.5% compared to the same quarter last year. analysts anticipate that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a $0.59 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.57%. Verizon Communications’s dividend payout ratio is 60.51%.

In other news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was 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 directly owns 3,269 shares of the company’s stock, valued at $154,983.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Oakmont Partners LLC raised its stake in shares of Verizon Communications by 0.3% in the second quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock valued at $285,000 after purchasing an additional 22 shares in the last quarter. Conservest Capital Advisors Inc. raised its stake in shares of Verizon Communications by 0.5% in the second quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock valued at $224,000 after purchasing an additional 23 shares in the last quarter. Regal Wealth Group Inc. raised its stake in shares of Verizon Communications by 0.7% in the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after purchasing an additional 24 shares in the last quarter. Glassman Wealth Services raised its stake in shares of Verizon Communications by 0.4% in the second quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock valued at $345,000 after purchasing an additional 31 shares in the last quarter. Finally, Nottingham Advisors Inc. raised its stake in shares of Verizon Communications by 0.5% in the second quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock valued at $287,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 63.21% of the company’s stock.

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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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