Verizon Communications Inc. (NYSE:VZ) Receives $53.02 Consensus Target Price from Brokerages

Verizon Communications Inc. (NYSE:VZ) Receives $53.02 Consensus Target Price from Brokerages

Verizon Communications Inc. (NYSE:VZ) Receives $53.02 Consensus Target Price from Brokerages

According to Zacks, "Verizon has started conducting 5G wireless network trials in 11 USA cities with plans to deploy its fixed wireless version in 2018". However, a full-phased 5G wireless network will be offered only in 2020. Verizon is gearing up to launch an online TV streaming service later this year. Verizon's unlimited data plans have heated up the wireless industry. Verizon is on track to bolster its foothold in the fiber and Internet of Things space through different deals. They use historic price data to observe stock price patterns to predict the direction of that price going forward. For the second half of 2017, we expect Verizon to keep adding subscribers and maintain low customer churn.

Want to see what other hedge funds are holding VZ? They set a "hold" rating and a $50.00 price target for the company.

Verizon has been competing for customers with smaller rivals T-Mobile US Inc. and Sprint Corp.in a flooded USA market for wireless service as most consumers already own mobile smartphones. Sand Hill Advisors Limited Liability Co has invested 0.06% of its portfolio in Verizon Communications Inc. MoffettNathanson upgraded Verizon Communications Inc. The latest reports which are outstanding on Friday 28th of July state 2 analysts have a rating of "strong buy", 5 analysts "buy", 23 analysts "neutral", 1 analysts "sell" and 0 analysts "strong sell". Finally, Argus cut shares of Verizon Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 21st.

05/30/2017 - Verizon Communications Inc. had its " rating reiterated by analysts at BTIG Research.

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Investors cheered Verizon's results, sending shares up 7% in midday trading. The corporation has a valuation of $195.03 B, a price to earnings ratio of 15.99 along with a stock beta of 0.54.

Verizon Communications Inc. has a 50 day moving average of 44.90 and a 200 day moving average of 47.63. Moreover, Indiana Trust And Mgmt has 1.25% invested in Verizon Communications Inc. Gurnani Roger also sold $543,385 worth of Verizon Communications Inc. Traders bought 24,016 call options on the company.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, hitting the Zacks' consensus estimate of $0.96. The business had revenue of $30.55 billion during the quarter, compared to the consensus estimate of $29.84 billion. Overage-fee revenue fell 34% in the second quarter compared with a year earlier. WALDEN MARNI M also sold $753,961 worth of Verizon Communications Inc. Adjusted earnings per share were $0.96 versus $0.94 a year ago. If you are accessing this piece on another website, it was copied illegally and reposted in violation of global trademark and copyright laws.

Ellis said McAdam's response came to a question about whether he would take calls and meetings from those companies and was simply meant to emphasize that Verizon is always open to talking to anyone. The shares were sold at an average price of $45.34, for a total value of $27,657.40. Following the completion of the transaction, the executive vice president now directly owns 9,039 shares of the company's stock, valued at $409,828.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The disclosure for this sale can be found here. Insiders sold 17,582 shares of company stock valued at $809,068 over the last quarter.

EQT Midstream Partners LP
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Following the completion of the sale, the insider now owns 27,599 shares in the company, valued at approximately $2,069,925.

The stock increased 0.28% or $0.13 during the last trading session, reaching $46.88.

These firms have also modified their investment in VZ. Harwood Advisory Group LLC's holdings in Verizon Communications were valued $292,000 during the latest fiscal quarter.

Verizon, after previously acquiring AOL and Millennial Media and previous year launching millennials-focused mobile video service Go90, has said millennials remain a core focus for the company. Ltd. raised its stake in Verizon Communications by 1,244.2% in the fourth quarter. I.G. Investment Management LTD. now owns 5,237,863 shares of the cell phone carrier's stock valued at $279,597,000 after buying an additional 2,080,548 shares during the last quarter. I.G. Investment Management LTD. boosted its stake in shares of Verizon Communications by 65.9% in the fourth quarter. Levin Capital Strategies L.P. now owns 1,114,934 shares of the cell phone carrier's stock worth $59,515,000 after buying an additional 11,525 shares during the last quarter. Winslow Asset Management accumulated 0.06% or 4,971 shares. Harvey Capital Incorporated holds 0.28% in Verizon Communications Inc.

Management effectiveness shows return on equity and return on assets for the trailing twelve months at 56.41% and 6.8% respectively.

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