According to CapitolTrades.com, which provides data related to politicians’ trades, Nicole Malliotakis, the U.S. representative for New York’s 11th congressional district, recently traded in Verizon Communications (NYSE:VZ) stock.
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Per the data, Malliotakis bought Verizon stock. Moreover, the trade had a transaction size range of $1-$15K. Using TipRanks’ data, let’s see what’s in store for VZ stock.
Is Verizon Rated Buy, Sell, or Hold?
Verizon stock has lost about 20% of its value in one year, reflecting increased competition and pressure on profitability due to higher promotional expenses, an inflationary cost environment, an increase in interest expenses, and a decline in its high-margin legacy Wireline business.
Nevertheless, its diverse portfolio and management’s focus on operational improvement are positives. Meanwhile, the ongoing 5G network rollout will likely drive its customer base and support revenue and cash flows.
Verizon stock received five Buy and seven Hold recommendations from analysts, translating into a Moderate Buy consensus rating. Furthermore, analysts’ average price target of $46.50 implies 16.8% upside potential.
While analysts are cautiously optimistic about Verizon, hedge funds have aggressively sold its stock. Our data shows that hedge funds sold 16.9M shares of Verizon last quarter. Meanwhile, VZ stock has a Neutral Smart Score of seven on TipRanks.
Bottom Line
Following politicians’ trades could help in making well-informed investment decisions. Meanwhile, investors can leverage TipRanks’ Experts Center tool to trade confidently. As for VZ stock, the company expects to improve performance, but ongoing cost pressure and an uncertain macro environment could pose challenges. Verizon has a Neutral Smart Score, implying its stock could perform in line with the broader market averages.
