Verizon Communications Inc. (NYSE:VZ) EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $47.74, for a total transaction of $29,121.40. Following the completion of the sale, the executive vice president now directly owns 7,819 shares in the company, valued at $373,279.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at 47.69 on Friday. The company has a market cap of $194.55 billion, a PE ratio of 12.26 and a beta of 0.56. The stock’s 50 day moving average is $46.01 and its 200-day moving average is $47.29. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.83.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. The business had revenue of $30.55 billion during the quarter, compared to the consensus estimate of $29.84 billion. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned $0.94 earnings per share. Equities research analysts expect that Verizon Communications Inc. will post $3.79 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a $0.5775 dividend. This represents a $2.31 annualized dividend and a dividend yield of 4.84%. The ex-dividend date was Thursday, July 6th. Verizon Communications’s payout ratio is 59.23%.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Ally Financial Inc. purchased a new position in shares of Verizon Communications during the fourth quarter valued at about $641,000. MML Investors Services LLC purchased a new position in shares of Verizon Communications during the fourth quarter valued at about $384,000. Marietta Wealth Management LLC purchased a new position in shares of Verizon Communications during the fourth quarter valued at about $908,000. AlphaOne Investment Services LLC boosted its position in shares of Verizon Communications by 1.8% in the fourth quarter. AlphaOne Investment Services LLC now owns 11,530 shares of the cell phone carrier’s stock valued at $615,000 after buying an additional 200 shares during the last quarter. Finally, Cpcm LLC purchased a new position in shares of Verizon Communications during the fourth quarter valued at about $881,000. Hedge funds and other institutional investors own 62.33% of the company’s stock.
A number of equities research analysts recently weighed in on VZ shares. Argus downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Royal Bank Of Canada reissued a “hold” rating and set a $48.00 price target on shares of Verizon Communications in a research note on Friday, April 21st. Macquarie reissued a “neutral” rating and set a $49.00 price target (down from $50.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. Jefferies Group LLC reissued a “hold” rating and set a $50.00 price target (down from $51.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. Finally, Deutsche Bank AG reissued a “hold” rating and set a $46.00 price target (down from $47.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. Two equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Verizon Communications presently has an average rating of “Hold” and an average target price of $52.73.
About Verizon Communications
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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