What’s Propelling Verizon Communications Inc (NYSE:VZ) After Higher Shorts Reported?

June 14, 2018 - By Kurt Siggers

Verizon Communications Inc. (NYSE:VZ) Logo

Investors sentiment decreased to 0.97 in Q1 2018. Its down 0.05, from 1.02 in 2017Q4. It worsened, as 69 investors sold Verizon Communications Inc. shares while 675 reduced holdings. 132 funds opened positions while 593 raised stakes. 2.55 billion shares or 0.58% more from 2.54 billion shares in 2017Q4 were reported.
Tortoise Mgmt Limited has 2,112 shares. 264,904 are held by Fdx. Rdl Financial holds 1.65% of its portfolio in Verizon Communications Inc. (NYSE:VZ) for 52,028 shares. Proshare Advsr Limited Company holds 0.28% or 890,758 shares in its portfolio. Fukoku Mutual Life Ins accumulated 196,930 shares. State Farm Mutual Automobile Commerce invested 0.76% of its portfolio in Verizon Communications Inc. (NYSE:VZ). Rosenbaum Jay D stated it has 20,262 shares or 1.96% of all its holdings. Tower Research Capital Ltd Com (Trc) invested in 1,044 shares or 0% of the stock. West Oak Limited Liability Com reported 34,265 shares stake. Strategic Financial Serv has 80,286 shares for 0.62% of their portfolio. Windward Company Ca holds 0.28% or 40,700 shares. Cap Mgmt Va has invested 1.32% in Verizon Communications Inc. (NYSE:VZ). Hbk Sorce Advisory Lc reported 65,247 shares stake. Court Place Advsr Llc accumulated 0.86% or 43,228 shares. Northeast Mngmt invested 0.15% in Verizon Communications Inc. (NYSE:VZ).

Since February 13, 2018, it had 0 insider buys, and 2 sales for $444,552 activity.

The stock of Verizon Communications Inc (NYSE:VZ) registered an increase of 2.33% in short interest. VZ’s total short interest was 34.36M shares in June as published by FINRA. Its up 2.33% from 33.58M shares, reported previously. With 16.57 million shares average volume, it will take short sellers 2 days to cover their VZ’s short positions. The short interest to Verizon Communications Inc’s float is 0.84%.

The stock increased 0.89% or $0.42 during the last trading session, reaching $47.82. About 16.54M shares traded or 10.72% up from the average. Verizon Communications Inc. (NYSE:VZ) has risen 7.08% since June 14, 2017 and is uptrending. It has underperformed by 5.49% the S&P500.

Verizon Communications Inc., through its subsidiaries, provides communications, information, and entertainment services and products to consumers, businesses, and governmental agencies worldwide. The company has market cap of $197.59 billion. The Company’s Wireless segment offers wireless voice and data services; Internet access on various smart and basic phones, notebook computers, and tablets; and multimedia access, business-focused, location-based, global data, home phone handsets, and high-speed Internet services, as well as network access and value added services to support wireless connections for the Internet of Things . It has a 6.27 P/E ratio. This segment also provides IoT services that support devices used in fleet management and telematics, energy, agricultural technology, and smart community markets; and wireless devices, such as smartphones and basic phones, tablets, and other Internet access devices.

Verizon Communications Inc. (NYSE:VZ) Ratings Coverage

Among 18 analysts covering Verizon Communications Inc. (NYSE:VZ), 13 have Buy rating, 0 Sell and 5 Hold. Therefore 72% are positive. Verizon Communications Inc. had 23 analyst reports since January 2, 2018 according to SRatingsIntel. The stock of Verizon Communications Inc. (NYSE:VZ) has “Buy” rating given on Friday, June 8 by Wells Fargo. The stock of Verizon Communications Inc. (NYSE:VZ) has “Hold” rating given on Wednesday, January 24 by Jefferies. As per Wednesday, March 28, the company rating was upgraded by HSBC. As per Monday, January 22, the company rating was upgraded by Howard Weil. Bank of America maintained Verizon Communications Inc. (NYSE:VZ) on Wednesday, January 24 with “Buy” rating. Nomura maintained the stock with “Buy” rating in Wednesday, January 24 report. On Wednesday, April 25 the stock rating was upgraded by SunTrust to “Buy”. The stock of Verizon Communications Inc. (NYSE:VZ) earned “Overweight” rating by Barclays Capital on Monday, April 23. On Tuesday, January 16 the stock rating was downgraded by Moffett Nathanson to “Neutral”. The rating was maintained by SunTrust with “Hold” on Tuesday, January 23.

More notable recent Verizon Communications Inc. (NYSE:VZ) news were published by: Globenewswire.com which released: “Verizon announces CEO succession plan” on June 08, 2018, also Seekingalpha.com with their article: “Verizon, Nokia hit 5G milestones with data sessions” published on June 12, 2018, Globenewswire.com published: “Detailed Research: Economic Perspectives on Verizon Communications, PayPal, Menlo Therapeutics, iClick …” on June 14, 2018. More interesting news about Verizon Communications Inc. (NYSE:VZ) were released by: Seekingalpha.com and their article: “Verizon: We Don’t Know About Vestberg, But Dividend Remains Well Covered” published on June 12, 2018 as well as Globenewswire.com‘s news article titled: “John Stratton to retire from Verizon by end of 2018” with publication date: June 08, 2018.

Verizon Communications Inc. (NYSE:VZ) Institutional Positions Chart

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