Key Points
- Verizon CEO Kyle Malady sold 1,100 shares for $50,721 at an average price of $46.11, reducing his direct holdings by 1.13% to 96,666 shares. The transaction was made under a pre-arranged Rule 10b5-1 plan.
- Verizon reported quarterly EPS of $1.31, beating estimates of $1.27, while revenue of $34.31 billion fell short of expectations; revenue rose 1.5% year over year.
- Analysts’ consensus rating is Hold, with an average price target of $51.05. Verizon’s quarterly dividend is $0.7075 per share, equivalent to a 6.1% yield at the reported share price.
Verizon Communications Inc. (NYSE:VZ - Get Free Report) CEO Kyle Malady sold 1,100 shares of the stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $46.11, for a total value of $50,721.00. Following the completion of the sale, the chief executive officer directly owned 96,666 shares of the company's stock, valued at approximately $4,457,269.26. The trade was a 1.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 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 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 shares were sold at an average price of $48.68, for a total transaction of $53,548.00.
Verizon Communications Trading Down 0.1%
Shares of NYSE:VZ opened at $46.54 on Friday. Verizon Communications Inc. has a 52-week low of $38.68 and a 52-week high of $51.68. The company has a market capitalization of $192.90 billion, a P/E ratio of 9.36, a price-to-earnings-growth ratio of 1.89 and a beta of 0.28. The company has a 50-day simple moving average of $46.32 and a 200 day simple moving average of $47.03. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.58 and a current ratio of 0.63.
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, topping analysts' consensus estimates of $1.27 by $0.04. The business had revenue of $34.31 billion during the quarter, compared to analysts' expectations of $34.77 billion. Verizon Communications had a return on equity of 19.75% and a net margin of 11.78%. Verizon Communications's quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $1.21 earnings per share. Sell-side analysts forecast that Verizon Communications Inc. will post 5.07 earnings per share for the current year.
Verizon Communications Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Friday, October 9th were given a $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend was Friday, October 9th. Verizon Communications's dividend payout ratio (DPR) is presently 72.19%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. Citigroup decreased their target price on Verizon Communications from $55.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, October 27th. Sanford C. Bernstein cut their price target on Verizon Communications from $47.00 to $45.00 in a report on Tuesday, October 13th. Freedom Broker raised Verizon Communications from a "hold" rating to a "buy" rating and raised their price target for the company from $53.00 to $55.00 in a report on Wednesday, October 28th. Scotiabank reduced their price objective on shares of Verizon Communications from $51.50 to $50.00 and set a "sector outperform" rating for the company in a research report on Friday, October 9th. Finally, Wells Fargo & Company upped their price objective on shares of Verizon Communications from $43.00 to $47.00 and gave the company an "equal weight" rating in a report on Monday, July 27th. Thirteen investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $51.05.
View Our Latest Stock Analysis on Verizon Communications
More Verizon Communications News
Investors following VZ have been watching these news items:
- Positive Sentiment: A comparison with AT&T said Verizon’s stronger cash flow, improving subscriber trends and expanding fiber footprint give it an edge, despite intensifying competition. T vs. VZ: Which Telecom Stock is a Better Investment Right Now?
- Neutral Sentiment: Verizon plans to redeem $1.75 billion of notes in December. The headline highlights a sizeable upcoming debt payment, but provides no details on funding or refinancing that would establish its effect on the company’s outlook. Verizon stock faces USD 1.75 billion note redemption in December
- Neutral Sentiment: CEO Kyle Malady sold 1,100 shares, about 1.13% of his direct holdings. The sale was made under a pre-arranged Rule 10b5-1 plan, which makes it a less clear signal about his view of Verizon’s prospects. SEC filing for the transaction
Institutional Investors Weigh In On Verizon Communications
Hedge funds have recently bought and sold shares of the stock. Robinswood Financial LLC acquired a new position in shares of Verizon Communications in the first quarter valued at approximately $27,000. Gill Capital Partners LLC increased its stake in shares of Verizon Communications by 74.6% during the second quarter. Gill Capital Partners LLC now owns 620 shares of the cell phone carrier's stock worth $26,000 after purchasing an additional 265 shares during the period. Balance Wealth Partners LLC bought a new position in shares of Verizon Communications during the third quarter worth approximately $37,000. Bare Financial Services Inc increased its stake in shares of Verizon Communications by 37.4% during the second quarter. Bare Financial Services Inc now owns 841 shares of the cell phone carrier's stock worth $36,000 after purchasing an additional 229 shares during the period. Finally, Frazier Financial Advisors LLC lifted its holdings in Verizon Communications by 32.7% during the 1st quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier's stock worth $45,000 after purchasing an additional 219 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.
About Verizon Communications
(
Get Free Report)
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.
Featured Articles
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. Please send any questions or comments about this story to [email protected].
