Investors Buy Verizon Communications (VZ) on Weakness
Investors bought shares of Verizon Communications Inc. (NYSE:VZ) on weakness during trading hours on Friday. $177.19 million flowed into the stock on the tick-up and $98.53 million flowed out of the stock on the tick-down, for a money net flow of $78.66 million into the stock. Of all equities tracked, Verizon Communications had the 7th highest net in-flow for the day. Verizon Communications traded down ($0.12) for the day and closed at $52.48
Several research analysts recently weighed in on the stock. KeyCorp boosted their price target on shares of Verizon Communications from $50.00 to $53.00 and gave the stock a “sector weight” rating in a report on Tuesday, January 2nd. HSBC cut shares of Verizon Communications from a “buy” rating to a “hold” rating and cut their price target for the stock from $54.83 to $42.80 in a report on Thursday, December 14th. They noted that the move was a valuation call. Instinet boosted their price target on shares of Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. Nomura upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $47.00 to $61.00 in a report on Tuesday, December 12th. Finally, ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $51.98.
The firm has a market cap of $214,090.00, a PE ratio of 13.46, a P/E/G ratio of 4.81 and a beta of 0.57. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Tuesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is currently 60.51%.
In other news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $47.41, for a total value of $28,920.10. Following the sale, the executive vice president now owns 3,269 shares of the company’s stock, valued at $154,983.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.
A number of institutional investors have recently bought and sold shares of VZ. Oakmont Partners LLC grew its stake in Verizon Communications by 0.3% in the 2nd quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock worth $285,000 after buying an additional 22 shares in the last quarter. Conservest Capital Advisors Inc. grew its stake in Verizon Communications by 0.5% in the 2nd quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock worth $224,000 after buying an additional 23 shares in the last quarter. Regal Wealth Group Inc. grew its stake in Verizon Communications by 0.7% in the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after buying an additional 24 shares in the last quarter. Glassman Wealth Services grew its stake in Verizon Communications by 0.4% in the 2nd quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock worth $345,000 after buying an additional 31 shares in the last quarter. Finally, Nottingham Advisors Inc. grew its stake in Verizon Communications by 0.5% in the 2nd quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock worth $287,000 after buying an additional 35 shares in the last quarter. 63.22% of the stock is currently owned by institutional investors and hedge funds.
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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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