Verizon Communications Inc. (NYSE:VZ) has announced that as part of their Advanced Calling 1.0 initiative, they will begin offering WiFi calling to users of the Samsung Galaxy S6 starting tomorrow. This feature will be useful to individuals who may not have cell tower access but still have a WiFi connection and wish to make a phone call. For instance if you are inside a building without 3G or 4G network acess, or perhaps in the middle of the wilderness with only a WiFi connection. To start the feature will be available on only the Galaxy S6 and S6 Edge smartphones, which are running the most up-to-date Android version.The stock is currently trading higher by 0.48% or $0.22 following the positive news, hitting $45.92 per share at the time of us publishing this article. About 8.77M shares traded hands. VZ has declined 9.52% since May 4, 2015 and is downtrending. It has underperformed the S&P500 by 8.44%.
From a total of 11 analysts covering Verizon Communications Inc. (NYSE:VZ) stock, 5 rate it a “Buy”, 1 a “Sell”, and 5 a “Hold”. This means that 45% of the ratings are positive. The highest target price is $54 while the lowest target price is $44. The mean of all analyst targets is $50.06 which is 9.02% above today’s ($45.92) stock price. Verizon Communications Inc. was the topic of 15 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Citigroup maintained shares on October 21 with a “Neutral” rating. Zacks upgraded shares to a”Hold” rating and a $53 target share price in their report from an August 14. Argus Research maintained VZ stock in a recent report from October 21 with a “Buy” rating. Vetr downgraded the rating on August 11. Vetr has a “Buy” rating and a $48.62 price target on shares. Finally, Nomura initiated the stock with a “Neutral” rating in a report they issued on an October 16.
The institutional sentiment decreased to 1.14 in Q2 2015. It’s down 0.10, from 1.24 in 2015Q1. The ratio dropped, as 70 funds sold all their Verizon Communications Inc. shares they owned while 674 reduced their positions. 115 funds bought stakes while 730 increased their total positions. Institutions now own 2.52 billion shares which is 7.83% less than the previous share count of 2.73 billion in 2015Q1.
American Investment Services Inc. holds 10.03% of its total portfolio in Verizon Communications Inc., equating to 403,199 shares. Quaker Capital Investments Llc owns 332,538 shares representing 9.79% of their total US portfolio. Moreover, Rathbone Brothers Plc has 9.23% of their total portfolio invested in the company, equating to 3.05 million shares. The Alabama-based 10 has a total of 8.55% of their portfolio invested in the stock. Cincinnati Indemnity Co, a Ohio-based fund reported 34,300 shares owned.
Since May 1, 2015, the stock had 0 insider buys, and 1 insider sale for a total of $380,674 in net activity. Walden Marni M sold 8,229 shares worth $380,674. Skiadas Anthony T sold 2,708 shares worth $137,404. Mead Daniel S. sold 24,945 shares worth $1.26M.
Verizon Communications Inc. is a holding firm that, acting through its subsidiaries, provides communications, information and entertainment services and products to consumers, businesses and governmental agencies. The company has a market cap of $186.43 billion. The Company’s divisions include Wireless and Wireline. It has 18.27 P/E ratio. The Wireless segment includes the Cellco Partnership doing business as Verizon Wireless.