Verizon Communications (NYSE:VZ) Stock: Insider Kyle Malady Sells 1,100 Shares

Verizon Communications Inc. (NYSE:VZ) CEO Kyle Malady sold 1,100 shares of Verizon Communications stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $46.11, for a total value of $50,721.00. Following the completion of the transaction, the chief executive officer directly owned 96,666 shares of the company’s stock, valued at $4,457,269.26. This represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, October 27th, Kyle Malady sold 1,100 shares of Verizon Communications stock. The stock was sold at an average price of $43.00, for a total transaction of $47,300.00.
• On Tuesday, October 20th, Kyle Malady sold 1,100 shares of Verizon Communications stock. The stock was sold at an average price of $44.48, for a total transaction of $48,928.00.
• On Tuesday, October 13th, Kyle Malady sold 1,100 shares of Verizon Communications stock. The shares were sold at an average price of $42.93, for a total transaction of $47,223.00.
• On Tuesday, October 6th, Kyle Malady sold 1,100 shares of Verizon Communications stock. The shares were sold at an average price of $45.75, for a total transaction of $50,325.00.
• On Tuesday, September 29th, Kyle Malady sold 1,100 shares of Verizon Communications stock. The stock was sold at an average price of $46.40, for a total transaction of $51,040.00.
• On Tuesday, September 22nd, Kyle Malady sold 1,100 shares of Verizon Communications stock. The stock was sold at an average price of $47.65, for a total transaction of $52,415.00.
• On Tuesday, September 8th, Kyle Malady sold 1,100 shares of Verizon Communications stock. The stock was sold at an average price of $49.98, for a total transaction of $54,978.00.
• On Tuesday, September 1st, Kyle Malady sold 1,100 shares of Verizon Communications stock. The shares were sold at an average price of $50.50, for a total transaction of $55,550.00.
• On Tuesday, August 25th, Kyle Malady sold 1,100 shares of Verizon Communications stock. The shares were sold at an average price of $50.06, for a total transaction of $55,066.00.
• On Tuesday, August 18th, Kyle Malady sold 1,100 shares of Verizon Communications stock. The shares were sold at an average price of $48.68, for a total transaction of $53,548.00.

Verizon Communications Trading Down 0.4%

VZ stock traded down $0.19 during trading on Friday, hitting $46.36. The company had a trading volume of 19,859,829 shares, compared to its average volume of 26,035,368. The company has a quick ratio of 0.58, a current ratio of 0.63 and a debt-to-equity ratio of 1.33. The firm has a 50-day moving average price of $46.24 and a 200-day moving average price of $47.07. Verizon Communications Inc. has a 12 month low of $38.68 and a 12 month high of $51.68. The stock has a market cap of $192.13 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.89 and a beta of 0.28.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, October 26th. The cell phone carrier reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.04. The firm had revenue of $34.31 billion for the quarter, compared to the consensus estimate of $34.77 billion. Verizon Communications had a return on equity of 19.75% and a net margin of 11.78%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 EPS. As a group, analysts predict that Verizon Communications Inc. will post 5.07 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Friday, October 9th were given a dividend of $0.7075 per share. The ex-dividend date was Friday, October 9th. This represents a $2.83 dividend on an annualized basis and a dividend yield of 6.1%. Verizon Communications’s payout ratio is presently 72.19%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a report on Wednesday, August 26th. Barclays lowered their price objective on Verizon Communications from $46.00 to $44.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 27th. Daiwa Securities Group dropped their price objective on Verizon Communications from $55.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 27th. The Goldman Sachs Group cut their target price on shares of Verizon Communications from $51.00 to $47.00 in a research report on Tuesday, October 27th. Finally, Moffett Nathanson raised their target price on shares of Verizon Communications from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, September 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Hold” and an average price target of $51.05.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Financial Management LLC raised its position in shares of Verizon Communications by 6.2% during the 2nd quarter. Cornerstone Financial Management LLC now owns 3,568 shares of the cell phone carrier’s stock worth $151,000 after purchasing an additional 207 shares during the last quarter. Manchester Financial Inc. lifted its stake in Verizon Communications by 0.6% in the 2nd quarter. Manchester Financial Inc. now owns 34,924 shares of the cell phone carrier’s stock valued at $1,479,000 after buying an additional 218 shares in the last quarter. Frazier Financial Advisors LLC lifted its stake in Verizon Communications by 32.7% in the 1st quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier’s stock valued at $45,000 after buying an additional 219 shares in the last quarter. Harbour Wealth Management Group Inc. grew its holdings in Verizon Communications by 2.3% during the 3rd quarter. Harbour Wealth Management Group Inc. now owns 9,966 shares of the cell phone carrier’s stock valued at $457,000 after buying an additional 220 shares during the last quarter. Finally, FAS Wealth Partners Inc. grew its holdings in Verizon Communications by 1.2% during the 1st quarter. FAS Wealth Partners Inc. now owns 18,421 shares of the cell phone carrier’s stock valued at $925,000 after buying an additional 223 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Company Profile

Verizon Communications Inc. is a telecommunications company that provides wireless and wireline communications services in the United States. Its offerings include mobile voice and data plans, smartphones and other connected devices, broadband internet, and related services for consumers, businesses, and government customers. The company operates a nationwide wireless network and provides home internet through fiber-optic service, including Fios, and fixed wireless access. For business and public-sector customers, Verizon offers connectivity, networking, security, and Internet of Things services.