Craig L. Silliman Sells 610 Shares of Verizon Communications Inc. (VZ) Stock
Verizon Communications Inc. (NYSE:VZ) EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $48.65, for a total transaction of $29,676.50. Following the completion of the transaction, the executive vice president now owns 7,209 shares in the company, valued at approximately $350,717.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Verizon Communications Inc. (NYSE:VZ) traded down 0.1545% on Friday, hitting $47.8959. 3,064,455 shares of the stock were exchanged. The company has a 50-day moving average of $47.08 and a 200-day moving average of $47.28. The stock has a market cap of $195.39 billion, a price-to-earnings ratio of 12.3126 and a beta of 0.56. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.83. Verizon Communications also was the recipient of unusually large options trading activity on Thursday. Investors bought 16,770 call options on the company. This represents an increase of 115% compared to the typical volume of 7,797 call options.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The firm had revenue of $30.55 billion during the quarter, compared to analyst estimates of $29.84 billion. During the same period in the previous year, the business posted $0.94 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities analysts predict that Verizon Communications Inc. will post $3.78 EPS for the current year.
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Several hedge funds have recently made changes to their positions in VZ. Hennessy Advisors Inc. raised its stake in shares of Verizon Communications by 25.2% in the first quarter. Hennessy Advisors Inc. now owns 270,700 shares of the cell phone carrier’s stock worth $13,197,000 after buying an additional 54,500 shares in the last quarter. Liberty Capital Management Inc. raised its stake in shares of Verizon Communications by 48.8% in the first quarter. Liberty Capital Management Inc. now owns 50,434 shares of the cell phone carrier’s stock worth $2,459,000 after buying an additional 16,547 shares in the last quarter. Park National Corp OH raised its stake in shares of Verizon Communications by 12.4% in the first quarter. Park National Corp OH now owns 216,088 shares of the cell phone carrier’s stock worth $10,534,000 after buying an additional 23,906 shares in the last quarter. Beacon Financial Group raised its stake in shares of Verizon Communications by 3.3% in the first quarter. Beacon Financial Group now owns 173,958 shares of the cell phone carrier’s stock worth $8,534,000 after buying an additional 5,569 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of Verizon Communications by 5.7% in the fourth quarter. Macquarie Group Ltd. now owns 15,133,689 shares of the cell phone carrier’s stock worth $807,837,000 after buying an additional 820,585 shares in the last quarter. Hedge funds and other institutional investors own 62.32% of the company’s stock.
Several equities analysts have recently weighed in on VZ shares. Vetr upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $47.44 price objective on the stock in a report on Wednesday, June 21st. Cowen and Company reiterated a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a report on Wednesday, July 19th. ValuEngine lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research lowered shares of Verizon Communications from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $50.00 price objective on shares of Verizon Communications in a report on Monday, July 3rd. Two equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $52.73.
Verizon Communications Company Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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