Alta Capital Management LLC lowered its position in VeriSign, Inc. (NASDAQ:VRSN – Free Report) by 18.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 53,828 shares of the information services provider’s stock after selling 12,070 shares during the period. VeriSign comprises approximately 0.9% of Alta Capital Management LLC’s holdings, making the stock its 26th largest position. Alta Capital Management LLC’s holdings in VeriSign were worth $13,078,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its holdings in VeriSign by 25.3% in the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock worth $50,000 after buying an additional 40 shares during the period. Tranquilli Financial Advisor LLC boosted its holdings in shares of VeriSign by 5.1% during the 4th quarter. Tranquilli Financial Advisor LLC now owns 872 shares of the information services provider’s stock valued at $212,000 after purchasing an additional 42 shares during the last quarter. Accretive Wealth Partners LLC boosted its holdings in shares of VeriSign by 0.8% during the 3rd quarter. Accretive Wealth Partners LLC now owns 5,779 shares of the information services provider’s stock valued at $1,616,000 after purchasing an additional 44 shares during the last quarter. One Wealth Advisors LLC boosted its holdings in shares of VeriSign by 3.8% during the 4th quarter. One Wealth Advisors LLC now owns 1,215 shares of the information services provider’s stock valued at $295,000 after purchasing an additional 44 shares during the last quarter. Finally, Bruce G. Allen Investments LLC boosted its holdings in shares of VeriSign by 51.5% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 147 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.
VeriSign Trading Up 2.6%
Shares of NASDAQ:VRSN opened at $305.31 on Tuesday. VeriSign, Inc. has a 12 month low of $208.86 and a 12 month high of $310.60. The company has a 50-day moving average price of $263.46 and a 200 day moving average price of $249.06. The company has a market cap of $27.78 billion, a price-to-earnings ratio of 33.74 and a beta of 0.68.
VeriSign Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Tuesday, May 19th will be issued a $0.81 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.1%. VeriSign’s dividend payout ratio (DPR) is presently 35.80%.
Wall Street Analyst Weigh In
Several research analysts have commented on VRSN shares. Zacks Research raised shares of VeriSign from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. Citigroup increased their price objective on shares of VeriSign from $295.00 to $320.00 and gave the company a “buy” rating in a report on Friday, April 24th. Weiss Ratings raised shares of VeriSign from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 27th. JPMorgan Chase & Co. increased their price objective on shares of VeriSign from $273.00 to $278.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Finally, Robert W. Baird increased their price objective on shares of VeriSign from $305.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $317.67.
Get Our Latest Stock Report on VRSN
Insider Transactions at VeriSign
In related news, EVP Danny R. Mcpherson sold 5,000 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $271.02, for a total value of $1,355,100.00. Following the completion of the transaction, the executive vice president owned 35,195 shares of the company’s stock, valued at approximately $9,538,548.90. This trade represents a 12.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas C. Indelicarto sold 498 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $231.78, for a total transaction of $115,426.44. Following the completion of the transaction, the executive vice president directly owned 40,028 shares of the company’s stock, valued at approximately $9,277,689.84. The trade was a 1.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 6,826 shares of company stock valued at $1,821,354. 0.56% of the stock is owned by insiders.
VeriSign Company Profile
VeriSign, Inc (NASDAQ: VRSN) is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign’s registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.
In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.
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