Traders purchased shares of Verizon Communications Inc. (NYSE:VZ) on weakness during trading on Thursday. $416.53 million flowed into the stock on the tick-up and $213.01 million flowed out of the stock on the tick-down, for a money net flow of $203.52 million into the stock. Of all companies tracked, Verizon Communications had the 4th highest net in-flow for the day. Verizon Communications traded down ($0.01) for the day and closed at $58.08

Several equities analysts have issued reports on the company. Scotiabank set a $62.00 price target on Verizon Communications and gave the company a “buy” rating in a research note on Wednesday, October 24th. Zacks Investment Research lowered Verizon Communications from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Bank of America reissued a “buy” rating and issued a $58.00 price target on shares of Verizon Communications in a research note on Monday, October 22nd. Finally, Moffett Nathanson reissued a “neutral” rating and issued a $56.00 price target on shares of Verizon Communications in a research note on Tuesday, September 4th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $56.22.

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 $239.79 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 2.53 and a beta of 0.49.

Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, October 23rd. The cell phone carrier reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. Verizon Communications had a return on equity of 35.50% and a net margin of 24.71%. The company had revenue of $32.61 billion for the quarter, compared to analyst estimates of $32.45 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. Verizon Communications’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities research analysts predict that Verizon Communications Inc. will post 4.68 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be given a dividend of $0.6025 per share. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.15%. Verizon Communications’s payout ratio is 64.44%.

Several large investors have recently modified their holdings of the company. Financial Gravity Wealth Inc. purchased a new stake in Verizon Communications in the 1st quarter valued at $128,000. Edgemoor Investment Advisors Inc. raised its position in Verizon Communications by 0.6% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 224,351 shares of the cell phone carrier’s stock valued at $10,728,000 after buying an additional 1,306 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its position in Verizon Communications by 62.6% in the 1st quarter. Old Mutual Global Investors UK Ltd. now owns 403,702 shares of the cell phone carrier’s stock valued at $19,305,000 after buying an additional 155,372 shares during the last quarter. BB&T Securities LLC raised its position in Verizon Communications by 3.4% in the 1st quarter. BB&T Securities LLC now owns 1,686,889 shares of the cell phone carrier’s stock valued at $80,666,000 after buying an additional 55,747 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in Verizon Communications by 10.7% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 1,023,161 shares of the cell phone carrier’s stock valued at $48,927,000 after buying an additional 98,736 shares during the last quarter. 65.02% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: “Traders Buy Verizon Communications (VZ) on Weakness” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The original version of this piece can be viewed at https://www.thecerbatgem.com/2018/12/07/traders-buy-verizon-communications-vz-on-weakness.html.

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.

See Also: Swap

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.