Selling Buzz: Verizon Communications Inc. [VZ] EVP&ChiefAdminLegal&PubPolOff Silliman Craig L. sells 1,558 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Verizon Communications Inc. shares valued at $80,112 were sold by Silliman Craig L. on Jul 05. At $51.42 per share, Silliman Craig L. sold 1,558 shares. The insider’s holdings dropped to 33,403 shares worth approximately $1.32 million following the completion of this transaction.

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Also, Silliman Craig L. sold 1,558 shares, netting a total of over 79,365 in proceeds. Following the sale of shares at $50.94 each, the insider now holds 34,961 shares.

Before that, Silliman Craig L. had sold 1,558 shares from its account. In a trade valued at $77,900, the EVP&ChiefAdminLegal&PubPolOff traded Verizon Communications Inc. shares for $50.00 each. Upon closing the transaction, the insider’s holdings decreased to 1,558 shares, worth approximately $1.44 million.

As published in a research note from MoffettNathanson on August 18, 2022, Verizon Communications Inc. [VZ] has been rated down from a Market perform to an Underperform and the price target has been revised to $41. This represents a 3.71% premium over Wednesday’s closing price. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late July. As of July 22, 2022, Scotiabank has decreased its “Sector outperform” rating to a “Sector perform” for VZ.

Analyzing VZ’s Price Performance

On Wednesday, Verizon Communications Inc. [NYSE: VZ] plunged -2.73% to $39.48. The stock’s lowest price that day was $39.47, but it reached a high of $40.90 in the same session. During the last five days, there has been a drop of approximately -4.36%. Over the course of the year, Verizon Communications Inc. shares have dropped approximately -24.02%. Shares of the company reached a 52-week high of $55.51 on 04/21/22 and a 52-week low of $39.47 on 09/21/22. A 50-day SMA is recorded $44.40, while a 200-day SMA reached $49.90. Nevertheless, trading volume fell to 25.48 million shares from 15.56 million shares the previous day.

Support And Resistance Levels for Verizon Communications Inc. (VZ)

According to the 24-hour chart, there is a support level at 39.00, which, if violated, would cause prices to drop to 38.52. In the upper region, resistance lies at 40.43. The next price resistance is at 41.38. RSI (Relative Strength Index) is 25.67 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.87, which suggests the price will decrease in the coming days. Percent R is at 99.70%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Verizon Communications Inc. subject to short interest?

Stocks of Verizon Communications Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 6.76 million shares to 42.07 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 35.31 million shares. A jump of 16.07% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.2 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.2.

Which companies own the most shares of Verizon Communications Inc. (VZ)?

According to The Vanguard Group, Inc. filings, the company currently owns 328,225,901 shares, which is about 7.82% of the total VZ shares outstanding. The investor’s shares have appreciated by 14,984,468 from its previous 13-F filing of 313241433.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $8,673,613,860. SSgA Funds Management, Inc. reduced a -2.47% interest valued at $6.85 billion while Geode Capital Management LLC purchased a 2,567,166 stake. A total of 3,995,448 shares of Verizon Communications Inc. were bought by Charles Schwab Investment Managem during the quarter, and -222,837 were sold by Northern Trust Investments, Inc. In its current portfolio, Capital Research & Management Co holds 44,698,934 shares valued at $1.87 billion.

In terms of Verizon Communications Inc. share price expectations, FactSet research, analysts set an average price target of $50.75 in the next 12 months, up nearly 23.18% from the previous closing price of $40.59. Analysts anticipate Verizon Communications Inc. stock to reach $64.00 by 2022, with the lowest price target being $41.00. In spite of this, 29 analysts ranked Verizon Communications Inc. stock as a Hold at the end of 2022. On April 29, 2022, DZ Bank assigned a price target of “a Sell” to the stock and downgraded coverage with a $44.


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