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 $979,200 were sold by Malady Kyle on Feb 22 ’24. At $40.80 per share, Malady Kyle sold 24,000 shares. The insider’s holdings dropped to 35,201 shares worth approximately $1.41 million following the completion of this transaction.
Also, Malady Kyle sold 15,000 shares, netting a total of over 604,950 in proceeds. Following the sale of shares at $40.33 each, the insider now holds 59,201 shares.
Before that, Silliman Craig L. had sold 3,340 shares from its account. In a trade valued at $127,889, the EVP&Pres.-VZ Global Services traded Verizon Communications Inc shares for $38.29 each. Upon closing the transaction, the insider’s holdings decreased to 3,340 shares, worth approximately $1.86 million.
As published in a research note from Redburn Atlantic on March 22, 2024, Verizon Communications Inc [VZ] has been rated up from a Sell to a Neutral and the price target has been revised to $39 from $33. Analysts at Barclays downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in late January. As of January 24, 2024, Daiwa Securities has increased its “Neutral” rating to a “an Outperform” for VZ. Earlier on January 16, 2024, Citigroup resumed its rating. Their recommendation was “a Buy” for VZ stock.
Analyzing VZ Stock Performance
During the last five days, there has been a drop of approximately -5.39%. Over the course of the year, Verizon Communications Inc shares have jumped approximately 6.53%. Shares of the company reached a 52-week high of $43.42 on 04/04/24 and a 52-week low of $37.56 on 01/11/24. A 50-day SMA is recorded $40.70, while a 200-day SMA reached $36.71. Nevertheless, trading volume fell to 13.45 million shares from 17.9 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 40.01, which, if violated, would cause prices to drop to 39.86. In the upper region, resistance lies at 40.39. The next price resistance is at 40.62. RSI (Relative Strength Index) is 41.18 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.00, which suggests the price will decrease in the coming days. Percent R is at 94.22%, 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 steep in short interest on Mar 28, 2024 dropping by -3.64 million shares to 47.96 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 51.6 million shares. A decline of -7.59% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.61 of the overall float, the days-to-cover ratio (short ratio) decline to 2.61.
