Trading Report: Today, Investors Sell Verizon Communications Inc. (VZ) on Strength Following Insider Selling

Today, Investors Sell Verizon Communications Inc. (VZ) on Strength Following Insider Selling

Investors sold shares of Verizon Communications Inc. (NYSE:VZ) on strength during trading on Monday following insider selling activity. $93.18 million flowed into the stock on the tick-up and $220.39 million flowed out of the stock on the tick-down, for a money net flow of $127.21 million out of the stock. Of all stocks tracked, Verizon Communications had the 4th highest net out-flow for the day. Verizon Communications traded up $0.45 for the day and closed at $51.12Specifically, EVP Craig L. Silliman sold 668 shares of the stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $49.29, for a total transaction of $32,925.72. Following the transaction, the executive vice president now directly owns 6,047 shares of the company’s stock, valued at $298,056.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Craig L. Silliman sold 672 shares of the stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $47.76, for a total transaction of $32,094.72. Following the transaction, the executive vice president now directly owns 9,182 shares in the company, valued at $438,532.32. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Several equities analysts have issued reports on the stock. Imperial Capital downgraded shares of Verizon Communications from an “outperform” rating to an “in-line” rating and increased their price objective for the company from $50.00 to $60.00 in a report on Tuesday, August 2nd. Vetr reaffirmed a “buy” rating on shares of Verizon Communications in a report on Wednesday, August 10th. Jefferies Group reaffirmed a “hold” rating on shares of Verizon Communications in a report on Saturday, August 6th. Barclays PLC reissued an “equal weight” rating and issued a $52.00 price target on shares of Verizon Communications in a research note on Friday, August 26th. Finally, Nomura reissued a “hold” rating and issued a $47.00 price target on shares of Verizon Communications in a research note on Monday, September 12th. One equities research 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. The stock presently has a consensus rating of “Hold” and a consensus price target of $54.61.

The company’s 50-day moving average price is $48.57 and its 200 day moving average price is $51.88. The firm has a market cap of $208.40 billion, a price-to-earnings ratio of 14.90 and a beta of 0.38.

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, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.02. Verizon Communications had a return on equity of 78.75% and a net margin of 10.97%. The firm had revenue of $30.90 billion for the quarter, compared to analysts’ expectations of $31.08 billion. During the same period last year, the business posted $1.04 earnings per share. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities analysts predict that Verizon Communications Inc. will post $3.90 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Friday, October 7th were paid a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a 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%.

Institutional investors have recently made changes to their positions in the company. Ironwood Investment Counsel LLC boosted its stake in 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 bought a new stake in Verizon Communications during the first quarter worth about $8,354,000. Arete Wealth Advisors LLC boosted its stake in 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 boosted its stake in 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 bought a new stake in Verizon Communications during the first quarter worth about $208,000. Hedge funds and other institutional investors own 62.41% of the company’s stock.

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