Verizon Communications Sees Unusually Large Options Volume (VZ)

Verizon Communications Sees Unusually Large Options Volume (VZ)

Verizon Communications Inc. (NYSE:VZ) saw unusually large options trading on Friday. Stock traders acquired 2,072 call options on the stock. This is an increase of approximately 106% compared to the average daily volume of 1,006 call options.

Verizon Communications (NYSE VZ) opened at 46.51 on Friday. The company has a market capitalization of $189.73 billion, a price-to-earnings ratio of 15.56 and a beta of 0.43. The company has a 50-day moving average price of $46.42 and a 200-day moving average price of $49.36. Verizon Communications has a one year low of $44.46 and a one year high of $56.95.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, April 20th. The cell phone carrier reported $0.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.98 by $0.03. The business had revenue of $29.81 billion during the quarter, compared to the consensus estimate of $30.41 billion. Verizon Communications had a net margin of 10.42% and a return on equity of 72.75%. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 EPS. Equities research analysts anticipate that Verizon Communications will post $3.75 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be issued a $0.5775 dividend. This represents a $2.31 dividend on an annualized basis and a yield of 4.97%. Verizon Communications’s dividend payout ratio is currently 71.74%.

In other news, EVP Marni M. Walden sold 16,362 shares of Verizon Communications stock in a transaction on Monday, May 1st. The stock was sold at an average price of $46.08, for a total value of $753,960.96. Following the completion of the sale, the executive vice president now owns 11,797 shares of the company’s stock, valued at $543,605.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $45.34, for a total value of $27,657.40. Following the completion of the sale, the executive vice president now directly owns 9,039 shares of the company’s stock, valued at approximately $409,828.26. The disclosure for this sale can be found here. Insiders have sold 18,192 shares of company stock valued at $840,801 in the last three months. 0.10% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of VZ. Guidant Wealth Advisors acquired a new stake in Verizon Communications during the third quarter worth about $107,000. Westside Investment Management Inc. increased its stake in Verizon Communications by 2.2% in the first quarter. Westside Investment Management Inc. now owns 2,210 shares of the cell phone carrier’s stock worth $108,000 after buying an additional 48 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in Verizon Communications during the fourth quarter worth about $115,000. Atwood & Palmer Inc. increased its stake in Verizon Communications by 299.9% in the first quarter. Atwood & Palmer Inc. now owns 2,667 shares of the cell phone carrier’s stock worth $130,000 after buying an additional 2,000 shares in the last quarter. Finally, Franklin Parlapiano Turner & Welch LLC acquired a new stake in Verizon Communications during the first quarter worth about $136,000. 63.38% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently commented on VZ. Argus downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. Instinet reaffirmed a “neutral” rating and issued a $47.00 price objective on shares of Verizon Communications in a research report on Thursday, February 16th. Zacks Investment Research downgraded Verizon Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Moffett Nathanson raised Verizon Communications from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $53.00 to $54.00 in a research report on Tuesday, February 21st. Finally, Vetr raised Verizon Communications from a “hold” rating to a “buy” rating and set a $52.26 price objective for the company in a research report on Monday, March 27th. Twenty-six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $53.54.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “VZ”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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