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 $377,026 were purchased by Silliman Craig L. on Aug 01 ’24. At $40.72 per share, Silliman Craig L. acquired 9,259 shares.
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Also, Malady Kyle sold 24,000 shares, netting a total of over 979,200 in proceeds. Following the sale of shares at $40.80 each, the insider now holds 35,201 shares.
Before that, Malady Kyle had sold 15,000 shares from its account. In a trade valued at $604,950, the EVP and Group CEO-VZ Business traded Verizon Communications Inc shares for $40.33 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $2.42 million.
As published in their initiating research note from Goldman on July 01, 2024, Verizon Communications Inc [VZ] has been a Buy and the price target has been revised to $50. Analysts at Redburn Atlantic upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in late March. As of January 31, 2024, Barclays has decreased its “an Overweight” rating to a “an Equal weight” for VZ. Earlier on January 24, 2024, Daiwa Securities upgraded its rating. Their new recommendation was “an Outperform” for VZ stock which previously was a “a Neutral”.
Analyzing VZ Stock Performance
During the last five days, there has been a surge of approximately 1.54%. Over the course of the year, Verizon Communications Inc shares have jumped approximately 8.49%. 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 $40.69, while a 200-day SMA reached $39.64. Nevertheless, trading volume fell to 10.28 million shares from 15.35 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 40.56, which, if violated, would cause prices to drop to 40.22. In the upper region, resistance lies at 41.17. The next price resistance is at 41.44. RSI (Relative Strength Index) is 53.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.29, which suggests the price will decrease in the coming days. Percent R is at 45.22%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
