Traders bought shares of Verizon Communications Inc. (NYSE:VZ) on weakness during trading hours on Thursday. $203.39 million flowed into the stock on the tick-up and $85.14 million flowed out of the stock on the tick-down, for a money net flow of $118.25 million into the stock. Of all stocks tracked, Verizon Communications had the 13th highest net in-flow for the day. Verizon Communications traded down ($0.40) for the day and closed at $46.88
Several brokerages have issued reports on VZ. SunTrust Banks increased their target price on Verizon Communications to $58.00 and gave the company a “hold” rating in a research report on Wednesday, January 24th. Nomura increased their target price on Verizon Communications from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. increased their target price on Verizon Communications from $52.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Zacks Investment Research raised Verizon Communications from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Tuesday, February 13th. Finally, Macquarie reaffirmed a “hold” rating and set a $54.00 target price on shares of Verizon Communications in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.66.
The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $196,862.59, a PE ratio of 6.37, a price-to-earnings-growth ratio of 1.93 and a beta of 0.68.
Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.02). The firm had revenue of $33.96 billion during the quarter, compared to analysts’ expectations of $33.20 billion. Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $0.86 EPS. sell-side analysts predict that Verizon Communications Inc. will post 4.55 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be paid a $0.59 dividend. The ex-dividend date is Monday, April 9th. This represents a $2.36 dividend on an annualized basis and a yield of 5.03%. Verizon Communications’s dividend payout ratio (DPR) is 32.07%.
In related news, SVP Anthony T. Skiadas sold 6,967 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total value of $346,956.60. Following the completion of the transaction, the senior vice president now owns 16,059 shares in the company, valued at approximately $799,738.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.13% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Verizon Communications by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock valued at $12,634,070,000 after buying an additional 5,837,702 shares during the last quarter. BlackRock Inc. raised its stake in shares of Verizon Communications by 0.8% during the 4th quarter. BlackRock Inc. now owns 265,904,768 shares of the cell phone carrier’s stock valued at $14,074,340,000 after buying an additional 2,236,290 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Verizon Communications by 15.1% during the 2nd quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock valued at $6,851,202,000 after buying an additional 20,070,391 shares during the last quarter. FMR LLC raised its stake in shares of Verizon Communications by 15.0% during the 2nd quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock valued at $2,761,466,000 after buying an additional 8,077,275 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Verizon Communications by 14.1% during the 4th quarter. Bank of New York Mellon Corp now owns 48,749,993 shares of the cell phone carrier’s stock valued at $2,580,337,000 after buying an additional 6,007,544 shares during the last quarter. Institutional investors own 63.98% 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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