Verizon Communications (NYSE:VZ) CEO Sells $50,721.00 in Stock

Verizon Communications Inc. (NYSE:VZ) CEO Kyle Malady sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $46.11, for a total transaction of $50,721.00. Following the sale, the chief executive officer directly owned 96,666 shares of the company’s stock, valued at $4,457,269.26. The trade was a 1.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 27th, Kyle Malady sold 1,100 shares of Verizon Communications stock. The shares were 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 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 transaction of $47,223.00.
• On Tuesday, October 6th, Kyle Malady sold 1,100 shares of Verizon Communications stock. The stock was 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 stock was sold at an average price of $48.68, for a total transaction of $53,548.00.

Verizon Communications Stock Down 0.4%

NYSE:VZ traded down $0.19 during mid-day trading on Friday, reaching $46.36. The stock had a trading volume of 19,859,829 shares, compared to its average volume of 26,035,368. The company has a market capitalization of $192.13 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 1.89 and a beta of 0.28. Verizon Communications Inc. has a 1-year low of $38.68 and a 1-year high of $51.68. The stock’s 50 day simple moving average is $46.24 and its two-hundred day simple moving average is $47.07. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.63 and a quick ratio of 0.58.

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

Verizon Communications Dividend Announcement

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 $0.7075 dividend. The ex-dividend date was Friday, October 9th. This represents a $2.83 annualized dividend and a dividend yield of 6.1%. Verizon Communications’s dividend payout ratio (DPR) is presently 72.19%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Citigroup reduced their price objective on Verizon Communications from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, October 27th. The Goldman Sachs Group reduced their price objective on Verizon Communications from $51.00 to $47.00 in a research note on Tuesday, October 27th. BNP Paribas Exane decreased their price objective on shares of Verizon Communications from $46.00 to $45.00 in a report on Tuesday, October 27th. Finally, Moffett Nathanson boosted 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 investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Verizon Communications currently has an average rating of “Hold” and an average target price of $51.05.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Verizon Communications by 0.4% during the third quarter. State Street Corp now owns 210,580,066 shares of the cell phone carrier’s stock valued at $9,659,308,000 after acquiring an additional 903,792 shares during the period. Bank of America Corp DE increased its holdings in shares of Verizon Communications by 15.4% in the 1st quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier’s stock worth $3,117,471,000 after acquiring an additional 8,289,877 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Verizon Communications by 20.8% in the 1st 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 acquiring an additional 6,580,820 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Verizon Communications by 14.1% in the 2nd 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 worth $1,743,274,000 after acquiring an additional 5,075,794 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Verizon Communications by 6.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 32,734,998 shares of the cell phone carrier’s stock valued at $1,643,339,000 after purchasing an additional 1,972,634 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors.

About Verizon Communications

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.