Large Inflow of Money Detected in Verizon Communications

Verizon Communications (VZ) : $133.94 million worth of transactions were on upticks in Verizon Communications (VZ), compared to $99.07 million on downticks. The ratio between the two was 1.35, whereas, the net money flow stood at a healthy $34.87 million on Wednesdays session.The block trades show a bullish bias with only $14.04 million worth of transactions done on downticks. The consistent buying on upticks in the stock accounted for $48million worth of trades. The up-down ratio between the uptick and downtick was 3.42, confirming that the stronger hands have been buying the stock on every weakness. The total money flow into the stock stood at $33.96 million. The bulls and the bears were in an equilibrium as the stock closed with a loss of -0.14%. The stock was trading at $55.62, with a drop of $0.08 over the previous days close. The stock recorded -0.39% for the week.


Also, Barclays maintains its rating on Verizon Communications (NYSE:VZ). The global brokerage major raises the current price target from $51 per share to $52 per share. Analysts at the Barclays have a current rating of Equal-weight on the shares. The rating by the firm was issued on April 18, 2016.

Verizon Communications (NYSE:VZ): The stock opened at $55.58 on Wednesday but the bulls could not build on the opening and the stock topped out at $55.67 for the day. The stock traded down to $55.31 during the day, due to lack of any buying support eventually closed down at $55.62 with a loss of -0.14% for the day. The stock had closed at $55.70 on the previous day. The total traded volume was 12,008,672 shares.

The stock has recorded a 20-day Moving Average of 0.83% and the 50-Day Moving Average is 5.9%. In a related news,The Officer (Evp Of Pubpolicy & Gen Counsel) of VERIZON COMMUNICATIONS INC, Silliman Craig L. sold 672 shares at $54.56 on June 24, 2016. The Insider selling transaction had a total value worth of $36,664. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Verizon Communications Inc. (Verizon) is a holding company that, acting through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment includes the Cellco Partnership doing business as Verizon Wireless. Wireless communications products and services include wireless voice and data services and equipment sales, which are provided to consumer, business and government customers across the United States. Wirelines voice, data and video communications products and services include broadband video and data, corporate networking solutions, data center and cloud services, security and managed network services and local and long distance voice services. Verizon provides these products and services to consumers in the United States, as well as to carriers, businesses and government customers both in the United States and around the world.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.