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Verizon Communications (NYSE:VZ) Shares Up 1.2% After Analyst Upgrade
Verizon Communications (NYSE:VZ) shares rose 1.2% after Citigroup upgraded its price target from $50.00 to $55.00, maintaining a “buy” rating. The company also increased its quarterly dividend to $0.7075, resulting in an annualized dividend of $2.83 and a yield of approximately 5.7%. Despite insider sales totaling over $10 million in the past three months, institutional investors have increased their holdings, with the company reporting strong Q4 earnings, surpassing analyst estimates.