Verizon Wireless (VZ:NYSE) in the Year 2017: 5G Network That is As Fast as Google Fiber

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Verizon Communications Inc. (NYSE:VZ) isn’t exactly known for their superb internet speeds. They are OK, and on par with most of their competitors, but internet speeds in general in the United States are not really all that spectacular.

Fast forward to the year 2017 — I know, it’s not really that far off — and we may be able to see a speed explosion for internet users. That’s because, by that time Google Fiber will be in even more regions on the globe, and Verizon Wireless (NYSE:VZ) will be testing their 5G network. This network is expected to be just as fast as Google Fiber — speeds of up to 1Gbps. If all goes as planned the super fast 5G service will be rolled out in some locations in 2017 as well.

The stock increased 2.11% or $0.96 during the last trading session, hitting $46.51. About 16.42M shares traded hands or up 35.93% from the average. VZ has declined 8.41% since May 13, 2015 and is currently downtrending. It has underperformed the S&P500 by 5.78%.

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 7.63% above today’s ($46.51) 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 increased to 1.19 in Q2 2015. It’s up 0.05, from 1.14 in 2015Q2. The ratio increased, as 68 funds sold all their Verizon Communications Inc. shares they owned while 651 reduced their positions. 89 funds bought stakes while 770 increased their total positions. Institutions now own 2.31 billion shares which is 8.50% less than the previous share count of 2.52 billion in 2015Q2.

American Investment Services Inc. holds 10.12% of its total portfolio in Verizon Communications Inc., equating to 417,677 shares. Quaker Capital Investments Llc owns 376,438 shares representing 9.71% of their total US portfolio. Moreover, Rathbone Brothers Plc has 9.02% of their total portfolio invested in the company, equating to 3.11 million shares. The Alabama-based 10 has a total of 8.8% of their portfolio invested in the stock. King Investment Advisors Inc Tx, a Texas-based fund reported 28,870 shares owned.

Since May 1, 2015, the stock had 0 buys, and 1 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 $185.34 billion. The Company’s divisions include Wireless and Wireline. It has 18.5 P/E ratio. The Wireless segment includes the Cellco Partnership doing business as Verizon Wireless.

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