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

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Investors sold shares of Verizon Communications Inc. (NYSE:VZ) on strength during trading on Friday. $239.44 million flowed into the stock on the tick-up and $688.18 million flowed out of the stock on the tick-down, for a money net flow of $448.74 million out of the stock. Of all stocks tracked, Verizon Communications had the 0th highest net out-flow for the day. Verizon Communications traded up $0.44 for the day and closed at $58.39

VZ has been the subject of a number of research analyst reports. Morgan Stanley lowered shares of Verizon Communications from an “overweight” rating to an “equal weight” rating and set a $58.00 price target for the company. in a research note on Wednesday, December 12th. JPMorgan Chase & Co. downgraded 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 reissued a “hold” rating on shares of Verizon Communications in a report on Friday, December 28th. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday, December 21st. Finally, Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Saturday, January 26th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Verizon Communications has a consensus rating of “Buy” and an average target price of $55.76.

The stock has a market capitalization of $241.03 billion, a PE ratio of 12.40, a P/E/G ratio of 2.27 and a beta of 0.50. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 1.94.

Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share (EPS) for the quarter, topping 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 return on equity of 35.96% and a net margin of 11.87%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. As a group, equities analysts predict that Verizon Communications Inc. will post 4.66 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.6025 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.41 dividend on an annualized basis and a yield of 4.13%. Verizon Communications’s payout ratio is currently 51.17%.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,349 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.12, for a total transaction of $77,054.88. Following the completion of the sale, the executive vice president now owns 25,549 shares of the company’s stock, valued at $1,459,358.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lowell C. Mcadam sold 285,988 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $56.72, for a total value of $16,221,239.36. Following the sale, the director now directly owns 362,932 shares of the company’s stock, valued at approximately $20,585,503.04. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its position in shares of Verizon Communications by 12,167,820.7% in the third quarter. Bank of New York Mellon Corp now owns 55,242,360 shares of the cell phone carrier’s stock valued at $2,949,390,000 after acquiring an additional 55,241,906 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Verizon Communications by 11,356.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 51,152,217 shares of the cell phone carrier’s stock valued at $910,000 after acquiring an additional 50,705,739 shares during the period. Norges Bank bought a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $2,426,105,000. BlackRock Inc. boosted its position in shares of Verizon Communications by 8.4% in the fourth quarter. BlackRock Inc. now owns 299,574,099 shares of the cell phone carrier’s stock valued at $16,842,056,000 after acquiring an additional 23,309,257 shares during the period. Finally, Capital International Investors boosted its position in shares of Verizon Communications by 23.0% in the third quarter. Capital International Investors now owns 43,029,226 shares of the cell phone carrier’s stock valued at $2,297,330,000 after acquiring an additional 8,034,336 shares during the period. 65.90% of the stock is owned by hedge funds and other 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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