Verizon Communications (NYSE:VZ) CEO Kyle Malady Sells 1,100 Shares of Company Stock

Verizon Communications Inc. (NYSE:VZ) CEO Kyle Malady sold 1,100 shares of the firm’s stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $46.11, for a total value of $50,721.00. Following the sale, the chief executive officer directly owned 96,666 shares in the company, valued at $4,457,269.26. The trade was a 1.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $47,300.00.
• On Tuesday, October 20th, Kyle Malady sold 1,100 shares of Verizon Communications stock. The shares were sold at an average price of $44.48, for a total value 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 value 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 value 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 value 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 value 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 stock was 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 Stock Down 0.1%

Verizon Communications stock opened at $46.54 on Friday. The company has a 50 day moving average of $46.32 and a 200-day moving average of $47.03. The company has a quick ratio of 0.58, a current ratio of 0.63 and a debt-to-equity ratio of 1.33. Verizon Communications Inc. has a twelve month low of $38.68 and a twelve month high of $51.68. The stock has a market capitalization of $192.90 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 1.89 and a beta of 0.28.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, October 26th. The cell phone carrier reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.04. The business had revenue of $34.31 billion for the quarter, compared to analyst estimates of $34.77 billion. Verizon Communications had a net margin of 11.78% and a return on equity of 19.75%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the business posted $1.21 earnings per share. On average, equities research analysts anticipate that Verizon Communications Inc. will post 5.07 EPS for the current fiscal year.

Verizon Communications Announces Dividend

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

Institutional Investors Weigh In On Verizon Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VZ. Gill Capital Partners LLC increased its position in shares of Verizon Communications by 74.6% in the second quarter. Gill Capital Partners LLC now owns 620 shares of the cell phone carrier’s stock valued at $26,000 after acquiring an additional 265 shares during the last quarter. Robinswood Financial LLC bought a new stake in Verizon Communications during the first quarter worth about $27,000. Bare Financial Services Inc raised its holdings in Verizon Communications by 37.4% during the second quarter. Bare Financial Services Inc now owns 841 shares of the cell phone carrier’s stock worth $36,000 after acquiring an additional 229 shares in the last quarter. Balance Wealth Partners LLC acquired a new position in Verizon Communications during the third quarter valued at approximately $37,000. Finally, Frazier Financial Advisors LLC boosted its position in Verizon Communications by 32.7% during the first quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier’s stock valued at $45,000 after purchasing an additional 219 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Verizon Communications

These are some of the VZ headlines that stood out recently:

• Positive Sentiment: A comparison with AT&T said Verizon’s stronger cash flow, improving subscriber trends and expanding fiber footprint give it an edge, despite intensifying competition. T vs. VZ: Which Telecom Stock is a Better Investment Right Now?
• Neutral Sentiment: Verizon plans to redeem $1.75 billion of notes in December. The headline highlights a sizeable upcoming debt payment, but provides no details on funding or refinancing that would establish its effect on the company’s outlook. Verizon stock faces USD 1.75 billion note redemption in December
• Neutral Sentiment: CEO Kyle Malady sold 1,100 shares, about 1.13% of his direct holdings. The sale was made under a pre-arranged Rule 10b5-1 plan, which makes it a less clear signal about his view of Verizon’s prospects. SEC filing for the transaction

Wall Street Analysts Forecast Growth

VZ has been the topic of a number of research reports. Daiwa Securities Group cut their price target on Verizon Communications from $55.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. Sanford C. Bernstein dropped their target price on Verizon Communications from $47.00 to $45.00 in a research report on Tuesday, October 13th. Scotiabank dropped their target price on Verizon Communications from $51.50 to $50.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 9th. Barclays cut their target price on Verizon Communications from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 27th. Finally, Moffett Nathanson upped their price target on Verizon Communications from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $51.05.

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.