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

Verizon Communications Inc. (NYSE:VZ – Get Free Report) CEO Kyle Malady sold 1,100 shares of the company’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $43.00, for a total transaction of $47,300.00. Following the completion of the transaction, the chief executive officer owned 98,866 shares of the company’s stock, valued at approximately $4,251,238. This trade represents a 1.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 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 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 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 value 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 value 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 value 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 value of $53,548.00.

Verizon Communications Stock Down 1.8%

Shares of Verizon Communications stock opened at $43.16 on Thursday. The business’s fifty day moving average price is $47.24 and its two-hundred day moving average price is $46.69. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.60 and a quick ratio of 0.57. The company has a market capitalization of $179.32 billion, a P/E ratio of 11.01, a PEG ratio of 1.70 and a beta of 0.26. Verizon Communications Inc. has a 1-year low of $38.68 and a 1-year high of $51.68.

Verizon Communications (NYSE:VZ – Get Free Report) last announced its quarterly earnings results on Monday, October 26th. The cell phone carrier reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.04. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%. The company had revenue of $34.31 billion during the quarter, compared to analyst estimates of $34.77 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, research analysts forecast that Verizon Communications Inc. will post 5.04 EPS for the current year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be issued a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend is Friday, October 9th. Verizon Communications’s dividend payout ratio (DPR) is 73.70%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Moffett Nathanson upped their price objective on shares of Verizon Communications from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, September 22nd. Morgan Stanley decreased their target price on shares of Verizon Communications from $52.00 to $50.00 and set an “equal weight” rating for the company in a research report on Tuesday. Barclays lowered their target price on shares of Verizon Communications from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Daiwa Securities Group lowered their target price on shares of Verizon Communications from $55.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Freedom Broker upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and boosted their price target for the stock from $53.00 to $55.00 in a research report on Wednesday. Thirteen analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $50.82.

Check Out Our Latest Stock Analysis on VZ

Hedge Funds Weigh In On Verizon Communications

Several hedge funds have recently modified their holdings of VZ. Bank of America Corp DE lifted its holdings in shares of Verizon Communications by 15.4% in the first quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier’s stock valued at $3,117,471,000 after purchasing an additional 8,289,877 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Verizon Communications by 20.8% in the first quarter. Bank of New York Mellon Corp now owns 38,164,982 shares of the cell phone carrier’s stock worth $1,915,882,000 after buying an additional 6,580,820 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Verizon Communications by 14.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,173,226 shares of the cell phone carrier’s stock valued at $1,743,274,000 after buying an additional 5,075,794 shares in the last quarter. Jupiter Topco LLC purchased a new position in shares of Verizon Communications during the second quarter valued at $184,260,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Verizon Communications during the second quarter valued at $132,893,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications News Roundup

Here are the key news stories impacting Verizon Communications this week:

  • Positive Sentiment: Broker upgrade: Freedom Broker upgraded Verizon from “hold” to “buy” and raised its price target from $53 to $55, implying substantial potential upside from recent trading levels. Freedom Broker Verizon rating
  • Positive Sentiment: Operational momentum: Verizon’s third-quarter adjusted EPS exceeded expectations, while postpaid phone additions, broadband growth, lower promotional costs and margin expansion supported a higher full-year outlook. The company also highlighted approximately $4 billion in signed AI-infrastructure contracts with AWS and Alphabet. Verizon Q3 earnings call highlights
  • Positive Sentiment: Potentially manageable satellite threat: CEO Dan Schulman said SpaceX could require four to six years and hundreds of billions of dollars to become a full U.S. wireless competitor. Verizon remains open to partnerships with satellite providers while rejecting arrangements that would allow Starlink to compete directly through Verizon’s network. SpaceX and Verizon competition

About Verizon Communications

(Get Free Report)

Verizon Communications Inc is a telecommunications company that provides wireless communications, broadband, and digital connectivity services. Through its consumer business, Verizon offers mobile voice and data plans, smartphones and other connected devices, home internet, fixed wireless access, and fiber-optic broadband services under the Fios brand.

Verizon also serves businesses, government agencies, and other organizations with wireless connectivity, private networks, internet and data services, managed communications, cloud and security solutions, and Internet of Things services.

Recommended Stories

Insider Buying and Selling by Quarter for Verizon Communications (NYSE:VZ)

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.