The 672 Shares of Stock are sold by Verizon Communications Inc. (VZ) EVP Craig L. Silliman

The 672 Shares of Stock are sold by Verizon Communications Inc. (VZ) EVP Craig L. Silliman

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

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