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Analysts review Verizon Communications Inc’s rating

In a filing, Verizon Communications Inc revealed its EVP and Group CEO-VZ Business Malady Kyle unloaded Company’s shares for reported $0.98 million on Feb 22 ’24. In the deal valued at $40.80 per share,24,000 shares were sold. As a result of this transaction, Malady Kyle now holds 35,201 shares worth roughly $1.45 million.

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Then, Malady Kyle sold 15,000 shares, generating $604,950 in total proceeds. Upon selling the shares at $40.33, the EVP and Group CEO-VZ Business now owns 59,201 shares.

Before that, Silliman Craig L. sold 3,340 shares. Verizon Communications Inc shares valued at $127,889 were divested by the EVP&Pres.-VZ Global Services at a price of $38.29 per share. As a result of the transaction, Silliman Craig L. now holds 46,295 shares, worth roughly $1.91 million.

Goldman initiated its Verizon Communications Inc [VZ] rating to a Buy in a research note published on July 01, 2024; the price target was $50. A number of analysts have revised their coverage, including Redburn Atlantic’s analysts, who increased its forecast for the stock in late March from “a Sell” to “a Neutral”. Barclays also remained covering VZ and has decreased its forecast on January 31, 2024 with a “an Equal weight” recommendation from previously “an Overweight” rating. Daiwa Securities revised its rating on January 24, 2024. It rated VZ as “an Outperform” which previously was an “a Neutral”.

Price Performance Review of VZ

On Tuesday, Verizon Communications Inc [NYSE:VZ] saw its stock fall -0.55% to $41.30. Over the last five days, the stock has lost -1.05%. Verizon Communications Inc shares have risen nearly 9.55% since the year began. Nevertheless, the stocks have risen 15.04% over the past one year. While a 52-week high of $43.42 was reached on 04/04/24, a 52-week low of $30.14 was recorded on 01/11/24. SMA at 50 days reached $40.29, while 200 days put it at $38.53. A total of 20.46 million shares were traded, compared to the trading of 15.38 million shares in the previous session.

Levels Of Support And Resistance For VZ Stock

The 24-hour chart illustrates a support level at 41.08, which if violated will result in even more drops to 40.86. On the upside, there is a resistance level at 41.65. A further resistance level may holdings at 42.00. The Relative Strength Index (RSI) on the 14-day chart is 56.71, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.37, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 29.82%. Stochastics%K at 77.30% indicates the stock is a holding.

The most recent change occurred on January 16, 2024 when Citigroup resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $45.

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