Insider Selling: Verizon Communications (NYSE:VZ) CEO Sells $47,300.00 in Stock

Key Points

  • Verizon CEO Kyle Malady sold 1,100 shares at $43 each, generating $47,300. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving him with 98,866 shares.
  • Verizon’s latest quarterly results beat expectations, with EPS of $1.31 versus the $1.27 consensus, while revenue rose 1.5% year over year to $34.31 billion. The company declared a quarterly dividend of $0.7075 per share, equivalent to a 6.6% annualized yield.
  • Analyst sentiment remains mixed: Verizon has a consensus “Hold” rating and an average price target of $50.82, despite recent target increases and a Freedom Broker upgrade to “Buy.”

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 shares were sold at an average price of $43.00, for a total value of $47,300.00. Following the completion of the transaction, the chief executive officer owned 98,866 shares in the company, valued at $4,251,238. This represents a 1.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was 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 stock was 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 shares were 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 shares were 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 shares were 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 stock was 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 Trading Down 1.8%




Shares of NYSE:VZ opened at $43.16 on Thursday. The firm has a fifty day moving average of $47.24 and a two-hundred day moving average of $46.69. The firm has a market capitalization of $179.32 billion, a P/E ratio of 11.01, a price-to-earnings-growth ratio of 1.70 and a beta of 0.26. Verizon Communications Inc. has a 12-month low of $38.68 and a 12-month high of $51.68. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings results on Monday, October 26th. The cell phone carrier reported $1.31 EPS for the quarter, beating the consensus estimate of $1.27 by $0.04. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The business had revenue of $34.31 billion for the quarter, compared to analysts' expectations of $34.77 billion. During the same period in the previous year, the company posted $1.21 EPS. Verizon Communications's revenue was up 1.5% on a year-over-year basis. On average, equities analysts expect that Verizon Communications Inc. will post 5.04 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Daiwa Securities Group dropped their target price on Verizon Communications from $55.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday. Royal Bank Of Canada raised their price target on Verizon Communications from $46.00 to $47.00 and gave the stock a "sector perform" rating in a research note on Monday, July 27th. Barclays reduced their price target on Verizon Communications from $46.00 to $44.00 and set an "equal weight" rating for the company in a report on Tuesday. Freedom Broker raised Verizon Communications from a "hold" rating to a "buy" rating and boosted their price target for the company from $53.00 to $55.00 in a research note on Wednesday. Finally, Wells Fargo & Company increased their price objective on Verizon Communications from $43.00 to $47.00 and gave the stock an "equal weight" rating in a report on Monday, July 27th. Thirteen investment analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $50.82.

Get Our Latest Research Report on VZ

Trending Headlines about Verizon Communications

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VZ. Cornerstone Financial Management LLC increased its stake in shares of Verizon Communications by 6.2% in the second quarter. Cornerstone Financial Management LLC now owns 3,568 shares of the cell phone carrier's stock worth $151,000 after purchasing an additional 207 shares during the period. RKL Wealth Management LLC grew its holdings in Verizon Communications by 4.3% in the 1st quarter. RKL Wealth Management LLC now owns 5,338 shares of the cell phone carrier's stock valued at $268,000 after buying an additional 218 shares during the last quarter. Manchester Financial Inc. increased its position in Verizon Communications by 0.6% in the 2nd quarter. Manchester Financial Inc. now owns 34,924 shares of the cell phone carrier's stock worth $1,479,000 after buying an additional 218 shares during the period. Frazier Financial Advisors LLC lifted its holdings in shares of Verizon Communications by 32.7% during the first quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier's stock worth $45,000 after buying an additional 219 shares during the last quarter. Finally, FAS Wealth Partners Inc. boosted its position in shares of Verizon Communications by 1.2% in the first quarter. FAS Wealth Partners Inc. now owns 18,421 shares of the cell phone carrier's stock valued at $925,000 after acquiring an additional 223 shares during the period. Institutional investors own 62.06% of the company's stock.

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.

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

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