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

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Traders sold shares of Verizon Communications (NYSE:VZ) on strength during trading on Tuesday. $106.19 million flowed into the stock on the tick-up and $250.99 million flowed out of the stock on the tick-down, for a money net flow of $144.80 million out of the stock. Of all stocks tracked, Verizon Communications had the 33rd highest net out-flow for the day. Verizon Communications traded up $0.38 for the day and closed at $48.81

A number of brokerages have issued reports on VZ. JPMorgan Chase & Co. raised Verizon Communications from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research note on Friday, May 11th. Guggenheim began coverage on Verizon Communications in a research note on Tuesday, March 13th. They issued a “buy” rating and a $58.00 price target on the stock. William Blair reissued a “market perform” rating on shares of Verizon Communications in a research note on Wednesday, April 25th. SunTrust Banks raised Verizon Communications from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Wednesday, April 25th. They noted that the move was a valuation call. Finally, Macquarie reaffirmed a “hold” rating and issued a $54.00 price objective on shares of Verizon Communications in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $54.75.

The stock has a market capitalization of $201.49 billion, a P/E ratio of 13.01, a P/E/G ratio of 1.96 and a beta of 0.62. The company has a quick ratio of 0.94, a current ratio of 0.98 and a debt-to-equity ratio of 2.15.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 EPS for the quarter, topping the consensus estimate of $1.11 by $0.06. The firm had revenue of $31.77 billion for the quarter, compared to analyst estimates of $31.25 billion. Verizon Communications had a return on equity of 42.62% and a net margin of 24.37%. Verizon Communications’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 EPS. research analysts anticipate that Verizon Communications will post 4.56 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend was Monday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 63.10%.

In related news, SVP Anthony T. Skiadas sold 1,974 shares of the business’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $49.44, for a total transaction of $97,594.56. Following the transaction, the senior vice president now directly owns 16,060 shares of the company’s stock, valued at approximately $794,006.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Northstar Asset Management LLC increased its holdings in Verizon Communications by 2.9% during the 4th quarter. Northstar Asset Management LLC now owns 35,391 shares of the cell phone carrier’s stock worth $1,873,000 after purchasing an additional 1,000 shares during the last quarter. Halbert Hargrove Russell LLC increased its holdings in shares of Verizon Communications by 19.3% in the 4th quarter. Halbert Hargrove Russell LLC now owns 6,268 shares of the cell phone carrier’s stock valued at $332,000 after acquiring an additional 1,013 shares during the last quarter. Neville Rodie & Shaw Inc. increased its holdings in shares of Verizon Communications by 1.4% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 74,755 shares of the cell phone carrier’s stock valued at $3,957,000 after acquiring an additional 1,020 shares during the last quarter. Tompkins Financial Corp increased its holdings in shares of Verizon Communications by 1.4% in the 4th quarter. Tompkins Financial Corp now owns 77,349 shares of the cell phone carrier’s stock valued at $4,094,000 after acquiring an additional 1,043 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of Verizon Communications by 11.3% in the 4th quarter. Quadrant Capital Group LLC now owns 10,266 shares of the cell phone carrier’s stock valued at $527,000 after acquiring an additional 1,046 shares during the last quarter. Institutional investors own 63.81% of the company’s stock.

Verizon Communications Company Profile

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; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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