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7 Stocks to Sell and Take Profits on Now!
These seven stocks have had good runs, but it's time to unload them
Jun 9, 2016, 1:10 pm EDT | By Brian Nichols, InvestorPlace Contributor
Stocks to Sell: Verizon Communications Inc. (VZ)
Verizon (VZ) stock broke out in 2016, up 12% year-to-date. That may not seem like much, but for large telecom companies that are mostly seen as great dividend investments, 12% in six months is great.However, it’s no mistake that VZ’s gains have underperformed the 16% gains of AT&T Inc. (T), and for investors who have been lucky enough to profit from these gains, it is best to walk away. For those who find it difficult to leave Verizon’s 4.4% yield, AT&T pays a higher dividend at 4.8%, plus has great growth prospects due to recent acquisitions and new expansion opportunities.Meanwhile, VZ doubled its debt for full ownership of a U.S. wireless business that has since faced immense pricing pressure and ongoing high capital expenditures. That debt continues to weigh on the company and limit its options.7 Best Stocks to Buy on the Next DipSo while VZ does not look all that expensive at 13 times next year’s earnings, the reason to take profits is because AT&T looks so much better, with more growth, a higher dividend and the same stock multiple." Take your phone lines and money if you were laid off and watch the sinking Verizon blame everyone else but themselves for the disaster the caused.