Verizon Communications Inc.’s filing revealed that its EVP & Chief HR Officer Hammock Samantha unloaded Company’s shares for reported $0.42 million on Aug 11. In the deal valued at $33.29 per share,12,557 shares were sold. As a result of this transaction, Hammock Samantha now holds 0 shares worth roughly $ 0.0.
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Then, Russo Joseph J. sold 7,585 shares, generating $275,336 in total proceeds. Upon selling the shares at $36.30, the EVP&Pres-Global Networks&Tech now owns 8,582 shares.
Before that, Silliman Craig L. sold 3,340 shares. Verizon Communications Inc. shares valued at $130,961 were divested by the EVP&Pres.-VZ Global Services at a price of $39.21 per share. As a result of the transaction, Silliman Craig L. now holds 73,015 shares, worth roughly $2.45 million.
Edward Jones downgraded its Verizon Communications Inc. [VZ] rating to a Hold from a a Buy in a research note published on Monday.
Price Performance Review of VZ
On Monday, Verizon Communications Inc. [NYSE:VZ] saw its stock jump 0.60% to $33.55. On the same session, the stock had its day’s lowest price of $33.255, but rose to a high of $33.62. Over the last five days, the stock has gained 1.67%. Verizon Communications Inc. shares have fallen nearly -14.85% since the year began. Nevertheless, the stocks have fallen -23.30% over the past one year. While a 52-week high of $43.70 was reached on 01/06/23, a 52-week low of $31.25 was recorded on 07/17/23. SMA at 50 days reached $34.33, while 200 days put it at $37.33. A total of 16.04 million shares were traded, compared to the trading of 14.91 million shares in the previous session.
Levels Of Support And Resistance For VZ Stock
The 24-hour chart illustrates a support level at 33.33, which if violated will result in even more drops to 33.11. On the upside, there is a resistance level at 33.69. A further resistance level may holdings at 33.84. The Relative Strength Index (RSI) on the 14-day chart is 50.42, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.21, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 6.92%. Stochastics %K at 84.32% indicates the stock is a selling.
How much short interest is there in Verizon Communications Inc.?
A steep rise in short interest was recorded in Verizon Communications Inc. stocks on Aug 14, 2023, dropping by -10.26 million shares to a total of 45.52 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 55.78 million shares. There was a decline of -22.54%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.08% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.43.
Verizon Communications Inc. [VZ] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 332,712,363 shares, or roughly 7.91% of the outstanding VZ shares. In other words, the investor’s shares have risen by 2,167,501 from its previous 13-F filing of 330544862.0. Additionally, BlackRock Fund Advisors increased 0.47% of its stake after which the total value it holdings stand at $7,600,294,832, while SSgA Funds Management, Inc. added 4.90% of its stake to hold $5.97 billion in the firm. Over the last quarter, Charles Schwab Investment Managem purchased 4,174,284 shares of Verizon Communications Inc., while Geode Capital Management LLC bought 2,349,112 shares. At present, Morgan Stanley Smith Barney LLC is holding 51,905,152 shares valued at $1.77 billion. Norges Bank Investment Management owned 46,438,445 shares of the company at the time of its most recent 13F filing, worth $1.58 billion.
According to FactSet, Verizon Communications Inc.’s share price will average $39.55 in the next year, based on opinions of analysts polled by the firm. This is up nearly 16.94 percent from its previous closing price of $33.35. Analysts expect Verizon Communications Inc. stock to reach the higher price of $45.00, while the lowest price estimate is $34.00. However, 27 analysts have rated VZ stock as a Hold in their predictions for 2023.