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

Investors sold shares of Verizon Communications Inc. (NYSE:VZ) on strength during trading hours on Monday. $70.54 million flowed into the stock on the tick-up and $177.32 million flowed out of the stock on the tick-down, for a money net flow of $106.78 million out of the stock. Of all equities tracked, Verizon Communications had the 10th highest net out-flow for the day. Verizon Communications traded up $0.41 for the day and closed at $50.15

A number of brokerages recently commented on VZ. KeyCorp lifted their target price on shares of Verizon Communications from $50.00 to $53.00 and gave the stock a “sector weight” rating in a research report on Tuesday, January 2nd. Bank of America lifted their target price on shares of Verizon Communications from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Nomura lifted their target price on shares of Verizon Communications from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Macquarie reiterated a “hold” rating and issued a $54.00 target price on shares of Verizon Communications in a research report on Wednesday, January 24th. Finally, SunTrust Banks lifted their target price on shares of Verizon Communications to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.51.

The stock has a market capitalization of $204,580.00, a price-to-earnings ratio of 15.38, a PEG ratio of 2.04 and a beta of 0.58. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). The firm had revenue of $33.96 billion during the quarter, compared to the consensus estimate of $33.20 billion. Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. Verizon Communications’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the business earned $0.86 EPS. sell-side analysts forecast that Verizon Communications Inc. will post 4.54 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend was Tuesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 72.39%.

In other news, SVP Anthony T. Skiadas sold 6,967 shares of Verizon Communications stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total transaction of $346,956.60. Following the sale, the senior vice president now owns 16,059 shares of the company’s stock, valued at approximately $799,738.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $47.41, for a total transaction of $28,920.10. Following the sale, the executive vice president now directly owns 3,269 shares in the company, valued at approximately $154,983.29. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cantor Fitzgerald Investment Adviser L.P. bought a new stake in Verizon Communications during the second quarter worth about $397,000. Gamble Jones Investment Counsel boosted its stake in Verizon Communications by 2.0% during the second quarter. Gamble Jones Investment Counsel now owns 170,452 shares of the cell phone carrier’s stock worth $7,612,000 after acquiring an additional 3,393 shares in the last quarter. Barry Investment Advisors LLC boosted its stake in Verizon Communications by 0.8% during the second quarter. Barry Investment Advisors LLC now owns 64,165 shares of the cell phone carrier’s stock worth $2,866,000 after acquiring an additional 499 shares in the last quarter. ST Germain D J Co. Inc. boosted its stake in Verizon Communications by 12.6% during the second quarter. ST Germain D J Co. Inc. now owns 34,202 shares of the cell phone carrier’s stock worth $1,527,000 after acquiring an additional 3,827 shares in the last quarter. Finally, Whitnell & Co. boosted its stake in Verizon Communications by 1.2% during the second quarter. Whitnell & Co. now owns 10,316 shares of the cell phone carrier’s stock worth $461,000 after acquiring an additional 125 shares in the last quarter. 64.21% of the stock is currently owned by hedge funds and other institutional investors.

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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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