Traders Buy Verizon Communications (VZ) on Weakness

Investors bought shares of Verizon Communications Inc. (NYSE:VZ) on weakness during trading on Monday. $221.80 million flowed into the stock on the tick-up and $119.70 million flowed out of the stock on the tick-down, for a money net flow of $102.10 million into the stock. Of all equities tracked, Verizon Communications had the 3rd highest net in-flow for the day. Verizon Communications traded down ($0.25) for the day and closed at $51.86

Several equities analysts have commented on VZ shares. Moffett Nathanson cut shares of Verizon Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday. KeyCorp raised their target price on shares of Verizon Communications from $50.00 to $53.00 and gave the company a “sector weight” rating in a research note on Tuesday, January 2nd. HSBC cut shares of Verizon Communications from a “buy” rating to a “hold” rating and lowered their target price for the company from $54.83 to $42.80 in a research note on Thursday, December 14th. They noted that the move was a valuation call. Instinet raised their target price on shares of Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Finally, Nomura raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and raised their target price for the company from $47.00 to $61.00 in a research note on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $51.98.

The firm has a market cap of $210,740.00, a P/E ratio of 13.25, a PEG ratio of 4.68 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.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.98. The company had revenue of $31.70 billion for the quarter, compared to analysts’ expectations of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS. equities analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Tuesday, January 9th. Verizon Communications’s payout ratio is 60.51%.

In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $47.41, for a total value of $28,920.10. Following the completion of the transaction, the executive vice president now directly owns 3,269 shares in the company, valued at $154,983.29. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Legacy Advisors LLC acquired a new stake in shares of Verizon Communications during the third quarter worth approximately $132,000. Shine Investment Advisory Services Inc. boosted its holdings in shares of Verizon Communications by 190.9% during the third quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after purchasing an additional 1,775 shares during the period. Private Vista LLC boosted its holdings in shares of Verizon Communications by 3,339.1% during the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after purchasing an additional 378,225 shares during the period. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Verizon Communications during the second quarter worth approximately $156,000. Finally, Regal Wealth Group Inc. boosted its holdings in shares of Verizon Communications by 0.7% during the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after purchasing an additional 24 shares during the period. Institutional investors own 63.22% 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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