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.