Verizon Communications EVP Sells $146,491 in Stock (VZ)
Verizon Communications (NYSE:VZ) EVP Randal S. Milch sold 2,966 shares of Verizon Communications stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $49.39, for a total value of $146,490.74. Following the completion of the sale, the executive vice president now directly owns 14,971 shares of the company’s stock, valued at approximately $739,418. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Verizon Communications (NYSE:VZ) traded down 1.05% during mid-day trading on Tuesday, hitting $49.2075. 7,346,191 shares of the company’s stock traded hands. Verizon Communications has a one year low of $45.08 and a one year high of $51.94. The stock has a 50-day moving average of $49.04 and a 200-day moving average of $47.93. The company has a market cap of $203.8 billion and a price-to-earnings ratio of 11.11.
Verizon Communications (NYSE:VZ) last released its 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.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Tuesday, July 8th.
Several analysts have recently commented on the stock. Analysts at Macquarie reiterated an “outperform” rating on shares of Verizon Communications in a research note on Wednesday, June 18th. They now have a $53.00 price target on the stock. Separately, 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. Finally, 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. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Verizon Communications presently has an average rating of “Buy” and an average price target of $51.59.
Verizon Communications Inc (NYSE:VZ) is a holding company.
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