Insider Selling: Verizon Communications (NYSE:VZ) Director Sells 200,000 Shares of Stock

Verizon Communications Inc. (NYSE:VZGet Free Report) Director Hans Erik Vestberg sold 200,000 shares of Verizon Communications stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $49.61, for a total value of $9,922,000.00. Following the completion of the transaction, the director directly owned 145,069 shares of the company’s stock, valued at approximately $7,196,873.09. This represents a 57.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Verizon Communications Stock Down 0.7%

Shares of VZ opened at $48.90 on Friday. The company’s 50-day simple moving average is $43.13 and its 200-day simple moving average is $42.33. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.87 and a current ratio of 0.91. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $50.47. The stock has a market capitalization of $206.24 billion, a PE ratio of 12.07, a P/E/G ratio of 2.06 and a beta of 0.33.

Verizon Communications (NYSE:VZGet Free Report) last released its earnings results on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. The company had revenue of $36.38 billion for the quarter, compared to analyst estimates of $36.20 billion. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 EPS. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. Analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be issued a $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a yield of 5.8%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, April 10th. Verizon Communications’s dividend payout ratio (DPR) is 68.15%.

Hedge Funds Weigh In On Verizon Communications

Large investors have recently bought and sold shares of the stock. Strengthening Families & Communities LLC grew its stake in Verizon Communications by 490.0% during the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 539 shares during the last quarter. TruNorth Capital Management LLC boosted its holdings in shares of Verizon Communications by 95.3% in the third quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock valued at $27,000 after acquiring an additional 305 shares during the period. Holos Integrated Wealth LLC purchased a new position in shares of Verizon Communications during the fourth quarter worth approximately $28,000. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Verizon Communications during the third quarter worth approximately $29,000. Finally, EQ Wealth Advisors LLC acquired a new position in shares of Verizon Communications in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

VZ has been the subject of several recent research reports. Barclays initiated coverage on Verizon Communications in a research note on Thursday, January 22nd. They issued an “equal weight” rating and a $43.00 price objective for the company. Evercore boosted their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. TD Cowen reduced their price objective on shares of Verizon Communications from $56.00 to $51.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Citigroup boosted their target price on shares of Verizon Communications from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, February 3rd. Finally, William Blair upgraded Verizon Communications to an “outperform” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.02.

View Our Latest Report on Verizon Communications

Verizon Communications News Summary

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Verizon Communications Company Profile

(Get Free Report)

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.

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