The stocks of one of the largest American telecommunications companies, Verizon Communications Inc., are still trading in a global corrective trend near the 38.00 mark.
The company continues to optimize its business, and the next step will be changes in the management team. So, Sowmyanarayan Sampath, who now heads Verizon Business Group, will move to the position of vice president of Verizon Consumer Group. At the same time, Kyle Malady, Managing Director of Global Network & Technology, will take up the vacant position of head of Verizon Business Group. According to management, these changes are part of the reorganization plan, the implementation of which began four years ago. The effectiveness of the changes can be assessed in the near future, as the main competitor of the issuer, the operator T-Mobile, faced interruptions in the provision of communication services for American consumers, which is likely to lead to their transition to the services of Verizon Communications Inc.
Last Friday, the company announced new dividends, which are due to be realized on May 1, 2023. We are talking about a quarterly payout of 0.6525 dollars per share, which is equal to 2.61 dollars on an annualized basis and is comparable to a yield of 6.8% per annum.
On the daily chart, quotes continue to trade above the support line of the correction channel with dynamic boundaries of 43.00–38.00.
Technical indicators are still holding the sell signal, despite the slowdown in recent days: the range of EMA fluctuations on the alligator indicator has begun to narrow again, and the AO histogram forms bars with a tendency to increase, while being in the sales zone.
Support levels: 37.00, 34.50. | Resistance levels: 39.00, 42.00.