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

Investors sold shares of Verizon Communications Inc. (NYSE:VZ) on strength during trading on Monday. $130.53 million flowed into the stock on the tick-up and $220.17 million flowed out of the stock on the tick-down, for a money net flow of $89.64 million out of the stock. Of all equities tracked, Verizon Communications had the 5th highest net out-flow for the day. Verizon Communications traded up $0.32 for the day and closed at $60.08

Several equities research analysts have recently weighed in on VZ shares. Morgan Stanley cut shares of Verizon Communications from an “overweight” rating to an “equal weight” rating and set a $58.00 price objective for the company. in a research report on Wednesday, December 12th. JPMorgan Chase & Co. cut shares of Verizon Communications from an “overweight” rating to a “neutral” rating and set a $62.00 price target for the company. in a report on Monday, December 3rd. Tigress Financial restated a “hold” rating on shares of Verizon Communications in a report on Friday, December 28th. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday, December 21st. Finally, Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Saturday, January 26th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Verizon Communications presently has an average rating of “Buy” and an average target price of $55.76.

The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.88 and a current ratio of 0.91. The firm has a market capitalization of $246.69 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 3.11 and a beta of 0.50.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. The firm had revenue of $34.28 billion during the quarter, compared to analysts’ expectations of $34.45 billion. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. Equities research analysts forecast that Verizon Communications Inc. will post 4.66 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.6025 per share. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend is Tuesday, April 9th. Verizon Communications’s dividend payout ratio is currently 51.17%.

In related news, EVP Craig L. Silliman sold 1,349 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $57.12, for a total transaction of $77,054.88. Following the transaction, the executive vice president now directly owns 25,549 shares of the company’s stock, valued at $1,459,358.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lowell C. Mcadam sold 285,988 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $56.72, for a total transaction of $16,221,239.36. Following the transaction, the director now directly owns 362,932 shares in the company, valued at $20,585,503.04. The disclosure for this sale can be found here. 0.03% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VZ. Next Capital Management LLC bought a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $35,000. TD Capital Management LLC raised its position in shares of Verizon Communications by 99.4% in the fourth quarter. TD Capital Management LLC now owns 720 shares of the cell phone carrier’s stock valued at $40,000 after purchasing an additional 359 shares during the period. PRW Wealth Management LLC bought a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $44,000. Daiwa SB Investments Ltd. raised its position in shares of Verizon Communications by 120.0% in the fourth quarter. Daiwa SB Investments Ltd. now owns 880 shares of the cell phone carrier’s stock valued at $49,000 after purchasing an additional 480 shares during the period. Finally, SeaBridge Investment Advisors LLC raised its position in shares of Verizon Communications by 506.0% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 1,018 shares of the cell phone carrier’s stock valued at $57,000 after purchasing an additional 850 shares during the period. 66.87% of the stock is currently owned by institutional investors.

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Verizon Communications Company Profile (NYSE:VZ)

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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