Verizon Communications Inc. (NYSE:VZ) CEO Kyle Malady Sells 8,000 Shares

Verizon Communications Inc. (NYSE:VZ) CEO Kyle Malady sold 8,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $39.88, for a total value of $319,040.00. Following the transaction, the chief executive officer now owns 6,590 shares in the company, valued at $262,809.20. This represents a 54.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $40.88, for a total value of $453,154.80.
• On Monday, January 27th, Kyle Malady sold 20,000 shares of Verizon Communications stock. The shares were sold at an average price of $40.54, for a total value of $810,800.00.

Verizon Communications Price Performance

VZ opened at $40.14 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $45.36. The company has a fifty day simple moving average of $40.44 and a 200 day simple moving average of $41.54. The stock has a market cap of $168.99 billion, a P/E ratio of 9.70, a P/E/G ratio of 4.11 and a beta of 0.45.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data 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 net margin of 12.99% and a return on equity of 19.80%. During the same quarter in the prior year, the firm posted $1.08 earnings per share. On average, research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date was Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 65.46%.

Hedge Funds Weigh In On Verizon Communications

Large investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Verizon Communications during the 3rd quarter worth about $31,000. Legend Financial Advisors Inc. boosted its stake in shares of Verizon Communications by 69.6% during the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after buying an additional 320 shares during the last quarter. Compass Financial Services Inc acquired a new position in shares of Verizon Communications during the 4th quarter worth about $33,000. Accordant Advisory Group Inc boosted its stake in shares of Verizon Communications by 137.6% during the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock worth $35,000 after buying an additional 450 shares during the last quarter. Finally, Hager Investment Management Services LLC acquired a new position in shares of Verizon Communications during the 4th quarter worth about $38,000. Institutional investors own 62.06% of the company’s stock.

Analysts Set New Price Targets

VZ has been the topic of several analyst reports. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. UBS Group boosted their target price on Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. Scotiabank boosted their target price on Verizon Communications from $47.00 to $47.50 and gave the stock a “sector perform” rating in a report on Monday, January 27th. StockNews.com downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada reduced their target price on Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and a consensus target price of $46.08.

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).