Verizon Communications (NYSE:VZ) Shares Unloaded Sen. Sheldon Whitehouse

Senator Sheldon Whitehouse (D-Rhode Island) recently sold shares of Verizon Communications Inc. (NYSE:VZ). In a filing disclosed on November 07th, the Senator disclosed that they had sold between $1,001 and $15,000 in Verizon Communications stock on October 29th.

Senator Sheldon Whitehouse also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of Eli Lilly and Company (NYSE:LLY) on 10/30/2024.
• Sold $1,001 – $15,000 in shares of Starbucks (NASDAQ:SBUX) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Walt Disney (NYSE:DIS) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Honeywell International (NASDAQ:HON) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Mastercard (NYSE:MA) on 10/29/2024.
• Sold $100,001 – $250,000 in shares of Tesla (NASDAQ:TSLA) on 10/28/2024.
• Sold $15,001 – $50,000 in shares of Tesla (NASDAQ:TSLA) on 10/28/2024.
• Sold $15,001 – $50,000 in shares of Tesla (NASDAQ:TSLA) on 10/11/2024.
• Sold $1,001 – $15,000 in shares of Celsius (NASDAQ:CELH) on 10/8/2024.
• Purchased $1,001 – $15,000 in shares of Coca-Cola (NYSE:KO) on 10/8/2024.

Verizon Communications Trading Down 1.5 %

Verizon Communications stock opened at $40.55 on Friday. Verizon Communications Inc. has a one year low of $35.40 and a one year high of $45.36. The stock has a market cap of $170.70 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 2.98 and a beta of 0.43. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.62 and a current ratio of 0.66. The stock has a 50-day moving average of $43.15 and a two-hundred day moving average of $41.37.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The company had revenue of $33.30 billion during the quarter, compared to analysts’ expectations of $33.42 billion. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. Verizon Communications’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the business earned $1.22 EPS. On average, research analysts anticipate that Verizon Communications Inc. will post 4.61 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.678 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 annualized dividend and a yield of 6.69%. The ex-dividend date of this dividend was Thursday, October 10th. Verizon Communications’s dividend payout ratio is currently 116.81%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group upped their target price on Verizon Communications from $43.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Scotiabank raised their price objective on Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Tigress Financial increased their price target on shares of Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Bank of America lifted their price objective on shares of Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, Raymond James increased their price objective on shares of Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Verizon Communications has an average rating of “Moderate Buy” and an average target price of $46.37.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Verizon Communications in the first quarter valued at approximately $354,000. John G Ullman & Associates Inc. acquired a new stake in shares of Verizon Communications in the 1st quarter worth $200,000. Advisory Alpha LLC increased its stake in shares of Verizon Communications by 2.6% in the 1st quarter. Advisory Alpha LLC now owns 21,700 shares of the cell phone carrier’s stock worth $911,000 after acquiring an additional 552 shares during the last quarter. Manchester Capital Management LLC raised its holdings in shares of Verizon Communications by 39.7% during the 1st quarter. Manchester Capital Management LLC now owns 12,787 shares of the cell phone carrier’s stock worth $537,000 after acquiring an additional 3,631 shares during the period. Finally, CFO4Life Group LLC boosted its position in shares of Verizon Communications by 3.4% during the 1st quarter. CFO4Life Group LLC now owns 9,455 shares of the cell phone carrier’s stock valued at $397,000 after acquiring an additional 313 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

About Senator Whitehouse

Sheldon Whitehouse (Democratic Party) is a member of the U.S. Senate from Rhode Island. He assumed office on January 3, 2007. His current term ends on January 3, 2025. Whitehouse (Democratic Party) is running for re-election to the U.S. Senate to represent Rhode Island. He declared candidacy for the 2024 election. Whitehouse previously served as the Rhode Island attorney general from 1999 to 2003. Before that, he was a United States attorney from 1994 to 1998. He was nominated to the position by President Bill Clinton (D). Whitehouse was a superdelegate to the 2016 Democratic National Convention from Rhode Island. He cast his vote for Hillary Clinton. As of a 2014 analysis of multiple outside rankings, Whitehouse is an average Democratic member of Congress, meaning he will vote with the Democratic Party on the majority of bills.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).