Verizon Communications EVP Unloads $145,097 in Stock (VZ)
Verizon Communications (NYSE:VZ) EVP Randal S. Milch unloaded 2,966 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $48.92, for a total transaction of $145,096.72. Following the completion of the sale, the executive vice president now directly owns 9,075 shares in the company, valued at approximately $443,949. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on VZ. Analysts at Macquarie downgraded shares of Verizon Communications from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 30th. They now have a $53.00 price target on the stock, up previously from $52.00. They noted that the move was a valuation call. Separately, analysts at FBR Capital Markets upgraded shares of Verizon Communications from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 24th. They now have a $57.00 price target on the stock, up previously from $55.00. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Verizon Communications in a research note on Wednesday, July 23rd. They now have a $55.00 price target on the stock, up previously from $54.00. Six equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Verizon Communications currently has an average rating of “Buy” and a consensus target price of $53.26.
Shares of Verizon Communications (NYSE:VZ) traded up 0.86% during mid-day trading on Monday, hitting $49.06. 4,435,638 shares of the company’s stock traded hands. Verizon Communications has a 52-week low of $45.08 and a 52-week high of $53.66. The stock has a 50-day moving average of $49.87 and a 200-day moving average of $48.41. The company has a market cap of $203.4 billion and a price-to-earnings ratio of 10.49.
Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, July 22nd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.01. The company had revenue of $31.50 billion for the quarter, compared to the consensus estimate of $31.10 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts expect that Verizon Communications will post $3.55 EPS for the current fiscal year.
Verizon Communications Inc (NYSE:VZ) is a holding company.
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