Traders Sell Shares of Verizon Communications (VZ) on Strength (VZ)
Traders sold shares of Verizon Communications Inc. (NYSE:VZ) on strength during trading on Thursday. $100.83 million flowed into the stock on the tick-up and $186.44 million flowed out of the stock on the tick-down, for a money net flow of $85.61 million out of the stock. Of all equities tracked, Verizon Communications had the 0th highest net out-flow for the day. Verizon Communications traded up $0.62 for the day and closed at $58.27
VZ has been the subject of a number of research reports. ValuEngine cut Verizon Communications from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Zacks Investment Research raised Verizon Communications from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Tuesday, September 25th. Barclays boosted their price target on Verizon Communications from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Wednesday, October 24th. Morgan Stanley boosted their price target on Verizon Communications from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, October 29th. Finally, Scotiabank set a $62.00 price target on Verizon Communications and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Verizon Communications presently has an average rating of “Buy” and a consensus price target of $55.93.
The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $237.98 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 2.51 and a beta of 0.46.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 10th were given a dividend of $0.6025 per share. This represents a $2.41 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Tuesday, October 9th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.59. Verizon Communications’s payout ratio is currently 64.44%.
A number of institutional investors and hedge funds have recently modified their holdings of VZ. Bank of New York Mellon Corp increased its stake in Verizon Communications by 12,167,820.7% during 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. Charles Schwab Investment Advisory Inc. bought a new position in Verizon Communications during the second quarter valued at about $353,508,000. BlackRock Inc. increased its stake in Verizon Communications by 2.3% during the third quarter. BlackRock Inc. now owns 276,264,842 shares of the cell phone carrier’s stock valued at $14,749,779,000 after acquiring an additional 6,117,952 shares during the period. Boston Partners increased its stake in Verizon Communications by 133.5% during the second quarter. Boston Partners now owns 10,503,382 shares of the cell phone carrier’s stock valued at $528,426,000 after acquiring an additional 6,005,801 shares during the period. Finally, FMR LLC increased its stake in Verizon Communications by 8.6% during the second quarter. FMR LLC now owns 69,165,256 shares of the cell phone carrier’s stock valued at $3,479,704,000 after acquiring an additional 5,481,532 shares during the period. Hedge funds and other institutional investors own 64.34% of the company’s stock.
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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; 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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