Verizon Communications Inc. (NYSE:VZ - Get Free Report) CEO Kyle Malady sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $42.48, for a total value of $212,400.00. Following the sale, the chief executive officer now directly owns 36,508 shares in the company, valued at $1,550,859.84. The trade was a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Kyle Malady also recently made the following trade(s):
- On Monday, February 3rd, Kyle Malady sold 8,000 shares of Verizon Communications stock. The shares were sold at an average price of $39.88, for a total transaction of $319,040.00.
- 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 transaction 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 Stock Up 0.4 %
Verizon Communications stock opened at $42.85 on Friday. Verizon Communications Inc. has a 1-year low of $37.59 and a 1-year high of $47.36. The business has a fifty day moving average price of $43.63 and a 200-day moving average price of $41.99. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. The stock has a market capitalization of $180.39 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 4.45 and a beta of 0.41.
Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. The business had revenue of $33.50 billion for the quarter, compared to analyst estimates of $33.31 billion. Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. Equities research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.
Verizon Communications Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.6775 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.32%. Verizon Communications's dividend payout ratio is currently 65.46%.
Institutional Investors Weigh In On Verizon Communications
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Crescent Sterling Ltd. lifted its position in Verizon Communications by 0.8% during the 1st quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier's stock worth $1,402,000 after acquiring an additional 235 shares during the period. Bernard Wealth Management Corp. lifted its holdings in shares of Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after purchasing an additional 243 shares during the period. Cherry Tree Wealth Management LLC boosted its position in Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after buying an additional 244 shares during the last quarter. NCM Capital Management LLC increased its holdings in Verizon Communications by 1.4% in the 4th quarter. NCM Capital Management LLC now owns 18,390 shares of the cell phone carrier's stock worth $735,000 after buying an additional 245 shares during the period. Finally, CRA Financial Services LLC raised its position in Verizon Communications by 3.7% during the 1st quarter. CRA Financial Services LLC now owns 6,913 shares of the cell phone carrier's stock worth $314,000 after buying an additional 246 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. Scotiabank raised their price target on shares of Verizon Communications from $48.50 to $49.00 and gave the stock a "sector perform" rating in a research note on Wednesday. TD Cowen raised shares of Verizon Communications to a "strong-buy" rating in a research report on Wednesday, January 15th. Oppenheimer lifted their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Tigress Financial reissued a "buy" rating and issued a $55.00 price objective on shares of Verizon Communications in a research note on Thursday, January 30th. Finally, StockNews.com cut Verizon Communications from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 13th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $47.35.
Read Our Latest Stock Report on VZ
Verizon Communications Company Profile
(
Get Free Report)
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).
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to contact@insidertrades.com.
