Insider Selling: Verizon Communications EVP Sells 2,965 Shares of Stock (VZ)
Verizon Communications (NYSE:VZ) EVP Randal S. Milch sold 2,965 shares of the stock on the open market in a transaction dated Friday, May 23rd. The stock was sold at an average price of $49.42, for a total value of $146,530.30. Following the completion of the transaction, the executive vice president now directly owns 17,937 shares in the company, valued at approximately $886,447. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Verizon Communications (NYSE:VZ) traded down 0.41% on Tuesday, hitting $49.5348. The stock had a trading volume of 9,596,147 shares. Verizon Communications has a 52 week low of $45.08 and a 52 week high of $51.98. The stock’s 50-day moving average is $47.80 and its 200-day moving average is $48.06. The company has a market cap of $205.1 billion and a P/E ratio of 11.11.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.84 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.87 by $0.03. The company had revenue of $31.82 billion for the quarter, compared to the consensus estimate of $30.70 billion. During the same quarter last year, the company posted $0.68 earnings per share. Verizon Communications’s revenue was up 4.8% compared to the same quarter last year. Analysts expect that Verizon Communications will post $3.54 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Sanford C. Bernstein initiated coverage on shares of Verizon Communications in a research note on Thursday, May 22nd. They set an “outperform” rating on the stock. Separately, analysts at Bernstein initiated coverage on shares of Verizon Communications in a research note on Wednesday, May 21st. They set an “outperform” rating and a $57.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Verizon Communications in a research note on Friday, May 9th. They now have a $51.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Verizon Communications currently has a consensus rating of “Buy” and a consensus target price of $51.65.
Verizon Communications Inc (NYSE:VZ) is a holding company.
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