Verizon Communications Inc. (VZ) EVP Craig L. Silliman Sells 668 Shares
Verizon Communications Inc. (NYSE:VZ) EVP Craig L. Silliman sold 668 shares of the stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $49.29, for a total transaction of $32,925.72. Following the completion of the transaction, the executive vice president now directly owns 6,047 shares in the company, valued at $298,056.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Verizon Communications Inc. (NYSE:VZ) opened at 51.12 on Tuesday. Verizon Communications Inc. has a 12-month low of $43.79 and a 12-month high of $56.95. The stock has a market capitalization of $208.40 billion, a P/E ratio of 14.90 and a beta of 0.38. The firm’s 50-day moving average is $48.57 and its 200-day moving average is $51.88.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, October 20th. The cell phone carrier reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. The firm earned $30.90 billion during the quarter, compared to analyst estimates of $31.08 billion. Verizon Communications had a return on equity of 78.75% and a net margin of 10.97%. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 earnings per share. Analysts predict that Verizon Communications Inc. will post $3.90 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th were paid a dividend of $0.0125 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend was Wednesday, October 5th. Verizon Communications’s dividend payout ratio (DPR) is presently 67.15%.
Several hedge funds have recently added to or reduced their stakes in VZ. Ironwood Investment Counsel LLC raised its stake in shares of Verizon Communications by 9.1% in the first quarter. Ironwood Investment Counsel LLC now owns 19,413 shares of the cell phone carrier’s stock worth $1,049,000 after buying an additional 1,621 shares during the last quarter. Simmons Bank acquired a new stake in shares of Verizon Communications during the first quarter worth approximately $8,354,000. Arete Wealth Advisors LLC raised its stake in shares of Verizon Communications by 9.7% in the first quarter. Arete Wealth Advisors LLC now owns 7,840 shares of the cell phone carrier’s stock worth $424,000 after buying an additional 691 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Verizon Communications by 2.0% in the first quarter. Geode Capital Management LLC now owns 33,346,023 shares of the cell phone carrier’s stock worth $1,799,729,000 after buying an additional 656,483 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in shares of Verizon Communications during the first quarter worth approximately $208,000. 62.41% of the stock is owned by hedge funds and other institutional investors.
VZ has been the topic of a number of recent research reports. Drexel Hamilton raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Monday, October 24th. Vetr lowered shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $57.60 price target on the stock. in a research report on Monday, October 3rd. HSBC reiterated a “hold” rating and set a $54.00 price objective on shares of Verizon Communications in a research note on Wednesday, September 28th. Jefferies Group reiterated a “hold” rating on shares of Verizon Communications in a research note on Friday, September 2nd. Finally, Nomura reiterated a “hold” rating and set a $47.00 price objective on shares of Verizon Communications in a research note on Monday, September 12th. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $54.61.
Verizon Communications Company Profile
Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.
Receive News & Stock Ratings for Verizon Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications Inc. and related stocks with our FREE daily email newsletter.