Traders Sell Verizon Communications (VZ) on Strength After Insider Selling

Traders sold shares of Verizon Communications Inc. (NYSE:VZ) on strength during trading on Friday after an insider sold shares in the company. $70.54 million flowed into the stock on the tick-up and $177.32 million flowed out of the stock on the tick-down, for a money net flow of $106.78 million out of the stock. Of all stocks tracked, Verizon Communications had the 10th highest net out-flow for the day. Verizon Communications traded up $0.41 for the day and closed at $50.15Specifically, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $47.41, for a total transaction of $28,920.10. Following the completion of the sale, the executive vice president now directly owns 3,269 shares in the company, valued at approximately $154,983.29. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Anthony T. Skiadas sold 6,967 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total value of $346,956.60. Following the sale, the senior vice president now owns 16,059 shares of the company’s stock, valued at $799,738.20. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

A number of equities analysts have recently commented on the company. KeyCorp boosted their price target on Verizon Communications from $50.00 to $53.00 and gave the stock a “sector weight” rating in a report on Tuesday, January 2nd. Bank of America boosted their price target on Verizon Communications from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Nomura boosted their price target on Verizon Communications from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Macquarie reissued a “hold” rating and set a $54.00 price target on shares of Verizon Communications in a report on Wednesday, January 24th. Finally, SunTrust Banks boosted their price target on Verizon Communications to $58.00 and gave the stock a “hold” rating in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Verizon Communications currently has an average rating of “Hold” and a consensus target price of $53.51.

The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54. The company has a market capitalization of $204,580.00, a price-to-earnings ratio of 15.38, a PEG ratio of 2.02 and a beta of 0.58.

Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The firm had revenue of $33.96 billion during the quarter, compared to analyst estimates of $33.20 billion. During the same period in the previous year, the company earned $0.86 EPS. Verizon Communications’s revenue for the quarter was up 2.2% on a year-over-year basis. equities analysts predict that Verizon Communications Inc. will post 4.54 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a yield of 4.71%. Verizon Communications’s payout ratio is presently 72.39%.

A number of institutional investors and hedge funds have recently modified their holdings of VZ. Weatherly Asset Management L. P. grew its position in shares of Verizon Communications by 2.7% in the 2nd quarter. Weatherly Asset Management L. P. now owns 49,619 shares of the cell phone carrier’s stock valued at $2,216,000 after buying an additional 1,325 shares during the last quarter. Grove Bank & Trust boosted its position in shares of Verizon Communications by 6.2% during the 2nd quarter. Grove Bank & Trust now owns 44,882 shares of the cell phone carrier’s stock valued at $2,004,000 after purchasing an additional 2,616 shares in the last quarter. Welch Investments LLC boosted its position in shares of Verizon Communications by 12.8% during the 2nd quarter. Welch Investments LLC now owns 88,884 shares of the cell phone carrier’s stock valued at $3,970,000 after purchasing an additional 10,105 shares in the last quarter. Tufton Capital Management boosted its position in shares of Verizon Communications by 9.8% during the 2nd quarter. Tufton Capital Management now owns 156,603 shares of the cell phone carrier’s stock valued at $6,994,000 after purchasing an additional 13,913 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of Verizon Communications by 7.1% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 4,091,468 shares of the cell phone carrier’s stock valued at $182,725,000 after purchasing an additional 270,000 shares in the last quarter. 63.31% of the stock is owned by institutional investors and hedge funds.

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About Verizon Communications

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

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