Verizon Communications (NYSE:VZ) was upgraded by equities research analysts at Scotia Howard Weill from a “sector perform” rating to a “sector outperform” rating in a report released on Monday.
A number of other equities analysts have also commented on the stock. Wells Fargo & Co upgraded shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Monday, November 20th. Instinet lifted their target price on shares of Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Nomura raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $47.00 to $61.00 in a research note on Tuesday, December 12th. SunTrust Banks reissued a “hold” rating and set a $50.00 target price on shares of Verizon Communications in a research note on Friday, October 20th. Finally, Macquarie reissued a “hold” rating and set a $52.00 target price on shares of Verizon Communications in a research note on Sunday, October 22nd. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Verizon Communications has a consensus rating of “Hold” and a consensus price target of $51.55.
Shares of Verizon Communications (VZ) traded up $0.36 during trading hours on Monday, hitting $51.91. 23,757,701 shares of the stock were exchanged, compared to its average volume of 16,490,424. The firm has a market capitalization of $215,190.00, a price-to-earnings ratio of 13.31, a PEG ratio of 3.49 and a beta of 0.57. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. Verizon Communications has a 52 week low of $42.80 and a 52 week high of $53.69.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction 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 completion of the sale, the executive vice president now directly 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 available at the SEC website. Insiders own 0.13% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Capital Research Global Investors increased its position in shares of Verizon Communications by 15.1% during the second quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock worth $6,851,202,000 after acquiring an additional 20,070,391 shares in the last quarter. FMR LLC increased its position in shares of Verizon Communications by 15.0% during the second quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock worth $2,761,466,000 after acquiring an additional 8,077,275 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Verizon Communications by 2.1% during the second quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock worth $12,634,070,000 after acquiring an additional 5,837,702 shares in the last quarter. Stifel Financial Corp increased its position in shares of Verizon Communications by 7,639.8% during the third quarter. Stifel Financial Corp now owns 3,877,541 shares of the cell phone carrier’s stock worth $191,847,000 after acquiring an additional 3,827,442 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Verizon Communications by 19.9% during the second quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock worth $974,515,000 after acquiring an additional 3,623,182 shares in the last quarter. 63.14% of the stock is owned by hedge funds and other institutional investors.
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.
