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

Traders sold shares of Verizon Communications Inc. (NYSE:VZ) on strength during trading hours on Thursday. $121.53 million flowed into the stock on the tick-up and $197.30 million flowed out of the stock on the tick-down, for a money net flow of $75.77 million out of the stock. Of all companies tracked, Verizon Communications had the 10th highest net out-flow for the day. Verizon Communications traded up $0.42 for the day and closed at $52.11

A number of brokerages recently issued reports on VZ. Moffett Nathanson reiterated a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Robert W. Baird restated a “hold” rating and issued a $49.00 price target on shares of Verizon Communications in a research note on Wednesday, October 4th. Wells Fargo & Co upgraded 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. ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Monday, October 23rd. Finally, Instinet upped their price target on Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Verizon Communications presently has a consensus rating of “Hold” and an average price target of $51.98.

The firm has a market cap of $212,580.00, a price-to-earnings ratio of 13.36, a PEG ratio of 4.80 and a beta of 0.57. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, January 9th. This represents a $2.36 annualized dividend and a yield of 4.53%. Verizon Communications’s payout ratio is presently 60.51%.

In related news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $47.41, for a total transaction of $28,920.10. Following the sale, the executive vice president now owns 3,269 shares in the company, valued at approximately $154,983.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Verizon Communications during the 2nd quarter worth $623,000. Shine Investment Advisory Services Inc. grew its position in shares of Verizon Communications by 190.9% during the 3rd quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after buying an additional 1,775 shares in the last quarter. Legacy Advisors LLC bought a new position in shares of Verizon Communications during the 3rd quarter worth $132,000. Mountain Capital Investment Advisors Inc bought a new position in shares of Verizon Communications during the 2nd quarter worth $156,000. Finally, Regal Wealth Group Inc. grew its position 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 buying an additional 24 shares in the last quarter. Institutional investors own 63.21% of the company’s stock.

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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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