Insider Selling: Verizon Communications Inc. (VZ) EVP Sells 1,349 Shares of Stock
Verizon Communications Inc. (NYSE:VZ) EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $59.20, for a total transaction of $79,860.80. Following the sale, the executive vice president now directly owns 26,728 shares of the company’s stock, valued at approximately $1,582,297.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NYSE VZ opened at $54.35 on Friday. Verizon Communications Inc. has a 12-month low of $47.13 and a 12-month high of $61.58. The stock has a market cap of $235.03 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 2.82 and a beta of 0.48. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.87 and a quick ratio of 0.83.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, April 23rd. The cell phone carrier reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. Verizon Communications had a net margin of 12.20% and a return on equity of 35.40%. 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 prior year, the company earned $1.17 EPS. Verizon Communications’s revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts forecast that Verizon Communications Inc. will post 4.75 earnings per share for the current year.
A number of analysts have recently commented on VZ shares. Goldman Sachs Group reissued a “buy” rating and set a $65.00 target price on shares of Verizon Communications in a research note on Tuesday, April 23rd. UBS Group cut shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 target price for the company. in a research note on Thursday. They noted that the move was a valuation call. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Saturday, May 11th. Royal Bank of Canada reissued a “neutral” rating and set a $57.00 target price on shares of Verizon Communications in a research note on Tuesday, April 23rd. Finally, Bank of America set a $64.00 target price on shares of Verizon Communications and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $57.76.
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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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