Verizon Communications Inc. (NYSE:VZ) EVP Craig L. Silliman sold 672 shares of the company’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $47.76, for a total transaction of $32,094.72. Following the transaction, the executive vice president now owns 9,182 shares in the company, valued at approximately $438,532.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Verizon Communications Inc. (NYSE:VZ) opened at 48.21 on Monday. Verizon Communications Inc. has a 52 week low of $43.79 and a 52 week high of $56.95. The company has a 50 day moving average of $50.68 and a 200 day moving average of $52.31. The stock has a market capitalization of $196.53 billion, a P/E ratio of 14.05 and a beta of 0.30.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, October 20th. The cell phone carrier reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.02. The company earned $30.90 billion during the quarter, compared to the consensus estimate of $31.08 billion. Verizon Communications had a return on equity of 78.75% and a net margin of 10.97%. The firm’s revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.04 EPS. Equities analysts expect that Verizon Communications Inc. will post $3.90 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be paid a dividend of $0.0125 per share. The ex-dividend date is Wednesday, October 5th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.10%. Verizon Communications’s dividend payout ratio (DPR) is presently 67.15%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. AMP Capital Investors Ltd increased its position in shares of Verizon Communications by 10.4% in the first quarter. AMP Capital Investors Ltd now owns 1,752,370 shares of the cell phone carrier’s stock worth $94,698,000 after buying an additional 164,905 shares during the period. Avalon Advisors LLC increased its position in Verizon Communications by 49.3% in the first quarter. Avalon Advisors LLC now owns 1,037,516 shares of the cell phone carrier’s stock valued at $56,109,000 after buying an additional 342,424 shares during the last quarter. Alps Advisors Inc. increased its position in Verizon Communications by 20.1% in the second quarter. Alps Advisors Inc. now owns 509,819 shares of the cell phone carrier’s stock valued at $28,468,000 after buying an additional 85,172 shares during the last quarter. State Farm Mutual Automobile Insurance Co. increased its position in Verizon Communications by 1.0% in the first quarter. State Farm Mutual Automobile Insurance Co. now owns 11,321,427 shares of the cell phone carrier’s stock valued at $612,263,000 after buying an additional 115,883 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new position in Verizon Communications during the first quarter valued at $56,662,000. Institutional investors own 63.44% of the company’s stock.
VZ has been the topic of several research reports. Macquarie restated a “neutral” rating and set a $55.00 price objective on shares of Verizon Communications in a report on Wednesday, July 6th. Oppenheimer Holdings Inc. restated an “outperform” rating on shares of Verizon Communications in a report on Friday, July 8th. Deutsche Bank AG restated a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a report on Friday, July 15th. Citigroup Inc. downgraded shares of Verizon Communications to a “market perform” rating in a report on Wednesday, July 20th. Finally, Zacks Investment Research upgraded shares of Verizon Communications from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have assigned a buy rating to the stock. Verizon Communications presently has a consensus rating of “Hold” and an average price target of $54.61.
Verizon Communications Company Profile