Stocks of Verizon Communications Inc (NYSE:VZ) traded higher last session on Wall Street, up 0.35% to $40.54.
VZ stock price is now 0.70% away from the 50-day moving average and 9.04% away from the 200-day moving average. The market capitalization of the company currently stands at $170.64B.
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With the price target enhanced from $33 to $39, Redburn Atlantic Upgraded its rating from Sell to Neutral for Verizon Communications Inc (NYSE: VZ). On January 31, 2024, Barclays Downgraded its previous ‘Overweight’ rating to ‘Equal Weight’ on the stock keeping its target price maintained at $44, while ‘Daiwa Securities’ rates the stock as ‘Outperform’
In other news, Malady Kyle, EVP and Group CEO-VZ Business sold 24,000 shares of the company’s stock on Feb 22 ’24. The stock was sold for $979,200 at an average price of $40.80. Upon completion of the transaction, the EVP and Group CEO-VZ Business now directly owns 35,201 shares in the company, valued at $1.43 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 15 ’24, EVP and Group CEO-VZ Business Malady Kyle sold 15,000 shares of the business’s stock. A total of $604,950 was realized by selling the stock at an average price of $40.33. This leaves the insider owning 59,201 shares of the company worth $2.4 million. A total of 0.04% of the company’s stock is owned by insiders.
During the past 12 months, Verizon Communications Inc has had a low of $30.14 and a high of $43.42. As of last week, the company has a debt-to-equity ratio of 1.86, a current ratio of 0.66, and a quick ratio of 0.62.
The net profit margin was 8.44% and return on equity was 12.08% for VZ. The company reported revenue of $32.98 billion for the quarter, compared to $32.91 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.21 percent.
