November 28, 2016 - By olga
As announced in an electronic document submitted to the Security and Exchange Commission on 28-11-2016, Craig Silliman, EVP of PubPolicy & Gen Counsel of Verizon Communications Inc and a person familiar with the corporation, unloaded 668 shares of the firm for close to $32,926 U.S. Dollars at average stock price per share of $49.3. In the last month, he also sold 672 shares valued at $32,095 USD. Currently, Craig Silliman has 8,942 shares or 0.0002% of Verizon Communications Inc’s total market cap (Market Capitalization is a measurement of business value based on share price and number of shares outstanding).
Out of 17 analysts covering Verizon Communications Inc. (NYSE:VZ), 5 rate it a “Buy”, 0 “Sell”, while 12 “Hold”. This means 29% are positive. $55 is the highest target while $44 is the lowest. The $51.39 average target is 0.82% above today’s ($50.97) stock price. Verizon Communications Inc. has been the topic of 26 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Citigroup maintained Verizon Communications Inc. (NYSE:VZ) rating on Wednesday, October 21. Citigroup has “Neutral” rating and $49 price target. The rating was initiated by Macquarie Research on Tuesday, April 5 with “Neutral”. The company was downgraded on Thursday, April 7 by Bernstein. As per Monday, October 24, the company rating was upgraded by Drexel Hamilton. The company was maintained on Wednesday, October 21 by Argus Research. The rating was downgraded by Moffet Nathanson to “Neutral” on Friday, April 1. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, September 30. DA Davidson initiated Verizon Communications Inc. (NYSE:VZ) on Thursday, February 4 with “Neutral” rating. The rating was maintained by RBC Capital Markets on Monday, January 25 with “Outperform”. The firm has “Hold” rating given on Friday, August 14 by Zacks.
Insitutional Activity: The institutional sentiment decreased to 1.1 in Q2 2016. Its down 0.05, from 1.15 in 2016Q1. The ratio fall, as 60 funds sold all Verizon Communications Inc. shares owned while 645 reduced positions. 97 funds bought stakes while 717 increased positions. They now own 2.54 billion shares or 1.12% less from 2.57 billion shares in 2016Q1.
Glenmede Tru Na holds 2.09 million shares or 0.71% of its portfolio. Cetera Advisor Netwr Ltd Liability has 292,890 shares for 0.95% of their US portfolio. Prentiss Smith Inc has 7,681 shares for 0.24% of their US portfolio. Ncm Gp last reported 1.82% of its portfolio in the stock. Citigroup holds 0.12% of its portfolio in Verizon Communications Inc. (NYSE:VZ) for 2.19M shares. Bingham Osborn Scarborough Limited Liability Company holds 0.05% or 8,158 shares in its portfolio. Intrust Savings Bank Na, a Kansas-based fund reported 53,297 shares. Metropolitan Life Insurance Company New York last reported 0.92% of its portfolio in the stock. State Board Of Administration Of Florida Retirement Systems reported 6.00 million shares or 1.06% of all its holdings. Murphy Incorporated holds 2.14% or 247,454 shares in its portfolio. Atwood Palmer has 600 shares for 0.01% of their US portfolio. Mariner Wealth Advsr Ltd Liability Corp holds 0.24% or 79,630 shares in its portfolio. Hamilton Point Inv Limited Liability Corporation accumulated 33,239 shares or 1.21% of the stock. Richard Bernstein Advsr Ltd holds 0.35% or 66,728 shares in its portfolio. Cibc World Markets accumulated 653,515 shares or 0.16% of the stock.
Insider Transactions: Since July 27, 2016, the stock had 0 insider purchases, and 4 selling transactions for $139,595 net activity. 672 shares were sold by SILLIMAN CRAIG L., worth $35,213.
About 5.41 million shares traded hands. Verizon Communications Inc. (NYSE:VZ) has declined 0.18% since April 25, 2016 and is downtrending. It has underperformed by 6.19% the S&P500.
Verizon Communications Inc. is a holding company. The company has a market cap of $209.61 billion. The Company, through its subsidiaries, provides communications, information and entertainment services and products to consumers, businesses and governmental agencies. It has a 14.85 P/E ratio. The Firm offers voice, data and video services and solutions on its wireless and wireline networks.
According to Zacks Investment Research, “Verizon Communications, formed by the merger of Bell Atlantic and GTE, is one of the world’s leading providers of high-growth communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States. Verizon is also the world’s largest provider of print and on-line directory information.”
Analysts await Verizon Communications Inc. (NYSE:VZ) to report earnings on January, 24 before the open. They expect $0.90 earnings per share, up 1.12% or $0.01 from last year’s $0.89 per share. VZ’s profit will be $3.70 billion for 14.16 P/E if the $0.90 EPS becomes a reality. After $1.01 actual earnings per share reported by Verizon Communications Inc. for the previous quarter, Wall Street now forecasts -10.89% negative EPS growth.
More news for Verizon Communications Inc. (NYSE:VZ) were recently published by: Etfdailynews.com, which released: “Verizon: eCommerce Black Friday Traffic Surged 9% From Last Year” on November 28, 2016. Prnewswire.com‘s article titled: “Heavy ecommerce traffic on Thanksgiving Day, according to the Verizon Retail Index” and published on November 25, 2016 is yet another important article.
Verizon Communications Inc. (Verizon), incorporated on October 7, 1983, is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment services and products to consumers, businesses and governmental agencies. The Firm offers voice, data and video services and solutions on its wireless and wireline networks. The Company’s divisions include Wireless and Wireline. The Wireless segment offers communications services and products, including wireless voice and data services and equipment sales that are provided to consumer, business and government clients across the United States. The Wireline segment offers voice, data and video communications services and products, such as broadband video and data, corporate networking solutions, data center and cloud services, security and managed network services, and local and long distance voice services. The Firm provides these services and products to clients in the United States, as well as to carriers, businesses and government clients both in the United States and around the world.
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