Insider Selling: Verizon Communications Inc. (NYSE:VZ) EVP Sells 1,349 Shares of Stock

Verizon Communications Inc. (NYSE:VZ) EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $58.15, for a total value of $78,444.35. Following the completion of the transaction, the executive vice president now directly owns 25,379 shares of the company’s stock, valued at $1,475,788.85. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

NYSE VZ traded down $0.62 on Friday, reaching $56.59. The stock had a trading volume of 12,237,924 shares, compared to its average volume of 11,215,380. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.83 and a current ratio of 0.87. Verizon Communications Inc. has a 12-month low of $50.05 and a 12-month high of $61.58. The company’s 50-day moving average is $57.24. The firm has a market capitalization of $236.60 billion, a PE ratio of 12.07, a P/E/G ratio of 2.83 and a beta of 0.51.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, April 23rd. The cell phone carrier reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.03. Verizon Communications had a return on equity of 35.40% and a net margin of 12.20%. The company had revenue of $32.13 billion during the quarter, compared to analysts’ expectations of $32.13 billion. During the same quarter in the previous year, the business earned $1.17 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.75 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a $0.6025 dividend. This represents a $2.41 annualized dividend and a yield of 4.26%. The ex-dividend date is Tuesday, July 9th. Verizon Communications’s payout ratio is 51.17%.

VZ has been the subject of a number of research analyst reports. Bank of America set a $64.00 price target on Verizon Communications and gave the company a “buy” rating in a report on Tuesday, April 23rd. Citigroup set a $12.00 price target on Avaya and gave the company a “hold” rating in a report on Monday, July 8th. Royal Bank of Canada set a €18.50 ($21.51) price target on ENI and gave the company a “neutral” rating in a report on Tuesday, April 23rd. Goldman Sachs Group set a $44.00 price target on Steel Dynamics and gave the company a “buy” rating in a report on Tuesday, April 23rd. Finally, UBS Group raised Loma Negra Compania Indl Argentina from a “sell” rating to a “neutral” rating in a report on Thursday, May 30th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $59.30.

A number of large investors have recently added to or reduced their stakes in VZ. Centaurus Financial Inc. raised its position in Verizon Communications by 18.2% in the first quarter. Centaurus Financial Inc. now owns 1,476 shares of the cell phone carrier’s stock worth $25,000 after acquiring an additional 227 shares in the last quarter. Evolution Wealth Advisors LLC purchased a new position in Verizon Communications in the second quarter worth $31,000. Daiwa SB Investments Ltd. raised its position in Verizon Communications by 120.0% in the fourth quarter. Daiwa SB Investments Ltd. now owns 880 shares of the cell phone carrier’s stock worth $49,000 after acquiring an additional 480 shares in the last quarter. SeaBridge Investment Advisors LLC grew its holdings in Verizon Communications by 506.0% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 1,018 shares of the cell phone carrier’s stock valued at $57,000 after purchasing an additional 850 shares during the last quarter. Finally, Cascade Investment Advisors Inc. grew its holdings in Verizon Communications by 21.5% in the fourth quarter. Cascade Investment Advisors Inc. now owns 1,033 shares of the cell phone carrier’s stock valued at $58,000 after purchasing an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 65.53% of the company’s stock.

About Verizon Communications

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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