Investors sold shares of Verizon Communications Inc. (NYSE:VZ) on strength during trading hours on Thursday. $129.51 million flowed into the stock on the tick-up and $155.28 million flowed out of the stock on the tick-down, for a money net flow of $25.77 million out of the stock. Of all stocks tracked, Verizon Communications had the 18th highest net out-flow for the day. Verizon Communications traded up $0.22 for the day and closed at $47.96
A number of research firms have weighed in on VZ. Moffett Nathanson raised shares of Verizon Communications from a “neutral” rating to a “buy” rating in a report on Wednesday. Vetr cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $54.24 price objective for the company. in a report on Tuesday. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Tuesday, February 13th. Nomura lifted their price objective on shares of Verizon Communications from $61.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Verizon Communications from $52.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $53.45.
The stock has a market capitalization of $195,650.00, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.96 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.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a yield of 4.92%. Verizon Communications’s payout ratio is presently 72.62%.
In related news, SVP Anthony T. Skiadas sold 6,967 shares of the business’s 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 transaction, the senior vice president now directly owns 16,059 shares in the company, valued at $799,738.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Vantage Financial Partners Ltd. Inc. acquired a new position in Verizon Communications in the 2nd quarter valued at about $623,000. Earnest Partners LLC acquired a new position in Verizon Communications in the 4th quarter valued at about $103,000. Exane Derivatives acquired a new position in Verizon Communications in the 4th quarter valued at about $103,000. Stelac Advisory Services LLC acquired a new position in Verizon Communications in the 4th quarter valued at about $111,000. Finally, Wagner Wealth Management LLC acquired a new position in Verizon Communications in the 4th quarter valued at about $129,000. Hedge funds and other institutional investors own 64.21% 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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