Verizon Communications Inc. (VZ) Short Interest Update

Verizon Communications Inc. (NYSE:VZ) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 41,800,454 shares, a growth of 9.3% from the October 31st total of 38,246,439 shares. Based on an average daily volume of 15,348,419 shares, the short-interest ratio is currently 2.7 days. Currently, 1.0% of the company’s stock are sold short.

A number of institutional investors have recently bought and sold shares of VZ. Financial Gravity Wealth Inc. purchased a new position in Verizon Communications in the first quarter valued at approximately $128,000. Arvest Bank Trust Division lifted its position in shares of Verizon Communications by 44.3% during the first quarter. Arvest Bank Trust Division now owns 209,217 shares of the cell phone carrier’s stock worth $10,004,000 after acquiring an additional 64,276 shares in the last quarter. Keating Investment Counselors Inc. lifted its position in shares of Verizon Communications by 13.3% during the first quarter. Keating Investment Counselors Inc. now owns 164,050 shares of the cell phone carrier’s stock worth $7,845,000 after acquiring an additional 19,291 shares in the last quarter. Financial Advocates Investment Management lifted its position in shares of Verizon Communications by 15.7% during the first quarter. Financial Advocates Investment Management now owns 50,767 shares of the cell phone carrier’s stock worth $2,428,000 after acquiring an additional 6,906 shares in the last quarter. Finally, Private Ocean LLC lifted its position in shares of Verizon Communications by 208.1% during the first quarter. Private Ocean LLC now owns 7,304 shares of the cell phone carrier’s stock worth $349,000 after acquiring an additional 4,933 shares in the last quarter. Institutional investors and hedge funds own 64.17% of the company’s stock.

A number of brokerages have commented on VZ. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 15th. Morgan Stanley boosted their price objective on Verizon Communications from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, October 29th. Scotiabank set a $62.00 price objective on Verizon Communications and gave the stock a “buy” rating in a report on Wednesday, October 24th. JPMorgan Chase & Co. upped their target price on Verizon Communications from $59.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, October 24th. Finally, Barclays upped their target price on Verizon Communications from $50.00 to $53.00 and gave the company a “hold” rating in a report on Wednesday, October 24th. Seven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $56.22.

VZ stock opened at $60.30 on Monday. The company has a market capitalization of $248.92 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 2.62 and a beta of 0.46. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.97 and a quick ratio of 0.93. Verizon Communications has a 12-month low of $46.08 and a 12-month high of $61.58.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, October 23rd. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $32.45 billion. During the same period in the prior year, the company posted $0.98 earnings per share. Verizon Communications’s quarterly revenue was up 2.8% on a year-over-year basis. Analysts anticipate that Verizon Communications will post 4.68 earnings per share for the current fiscal year.

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Verizon Communications Company Profile

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.

Further Reading: Tariff

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