Insider Selling: Verizon Communications Inc. (NYSE:VZ) CEO Sells $319,040.00 in Stock

Verizon Communications Inc. (NYSE:VZ) CEO Kyle Malady sold 8,000 shares of Verizon Communications stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $39.88, for a total transaction of $319,040.00. Following the transaction, the chief executive officer now directly owns 6,590 shares of the company’s stock, valued at $262,809.20. The trade was a 54.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Kyle Malady also recently made the following trade(s):

• On Wednesday, January 29th, Kyle Malady sold 11,085 shares of Verizon Communications stock. The stock was sold at an average price of $40.88, for a total transaction of $453,154.80.
• On Monday, January 27th, Kyle Malady sold 20,000 shares of Verizon Communications stock. The stock was sold at an average price of $40.54, for a total transaction of $810,800.00.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $39.88 on Friday. The company has a market capitalization of $167.86 billion, a PE ratio of 9.63, a P/E/G ratio of 4.11 and a beta of 0.45. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. The company has a 50-day simple moving average of $40.27 and a two-hundred day simple moving average of $41.52. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $45.36.

Verizon Communications (NYSE:VZ) last announced its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same quarter in the prior year, the company earned $1.08 earnings per share. Research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were paid a dividend of $0.6775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.80%. Verizon Communications’s payout ratio is 65.46%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Argus upgraded Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. UBS Group lifted their target price on Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Wolfe Research lifted their target price on Verizon Communications from $50.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus target price of $46.08.

Institutional Investors Weigh In On Verizon Communications

Large investors have recently modified their holdings of the business. Mainstream Capital Management LLC purchased a new stake in shares of Verizon Communications during the fourth quarter worth about $28,000. Capital Performance Advisors LLP purchased a new stake in shares of Verizon Communications during the third quarter worth about $31,000. Legend Financial Advisors Inc. grew its stake in shares of Verizon Communications by 69.6% during the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after acquiring an additional 320 shares during the last quarter. Compass Financial Services Inc purchased a new stake in Verizon Communications in the fourth quarter valued at approximately $33,000. Finally, Accordant Advisory Group Inc boosted its position in Verizon Communications by 137.6% in the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after buying an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

About Verizon Communications

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).