Shares of Verizon Communications rose to $44.43 during today's morning trading session. Despite the 1.3% change, the Large-Cap Communication Equipment company still trades 7.89% above its average analyst target price of $41.18. So there may be further downside for the Communication Equipment stock. Verizon Communications has target prices ranging from $33.37 to $49.61 per share, and its average rating is buy.
The stock has a very low short interest at 1.1%, and a short ratio of 3.05. At 0.04%, the company's rate of insider ownership does not indicate that management is heavily invested in the corporation. Finally, we also note that an average number of institutional investors are invested in the stock, with 64.3% of Verizon Communications's shares being owned by this investor type.
Institutions Invested in Verizon Communications
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-06-30 | Vanguard Group Inc | 8% | 354,040,331 | $15,730,012,014 |
| 2024-06-30 | Blackrock Inc. | 8% | 348,871,645 | $15,500,367,293 |
| 2024-06-30 | State Street Corporation | 4% | 185,354,650 | $8,235,307,156 |
| 2024-06-30 | Charles Schwab Investment Management, Inc. | 2% | 95,337,073 | $4,235,826,182 |
| 2024-06-30 | Geode Capital Management, LLC | 2% | 93,743,004 | $4,165,001,696 |
| 2024-06-30 | Morgan Stanley | 2% | 75,661,760 | $3,361,652,019 |
| 2024-06-30 | Norges Bank Investment Management | 1% | 55,461,310 | $2,464,146,020 |
| 2024-06-30 | Northern Trust Corporation | 1% | 41,875,147 | $1,860,512,793 |
| 2024-06-30 | Legal & General Group PLC | 1% | 38,357,031 | $1,704,202,899 |
| 2024-06-30 | Dimensional Fund Advisors LP | 1% | 35,561,841 | $1,580,012,606 |
Besides an analyst consensus of little upside potential, other market factors point to there being mixed market sentiment on Verizon Communications.
