Kyle Malady Sells 20,000 Shares of Verizon Communications Inc. (NYSE:VZ) Stock

Verizon Communications Inc. (NYSE:VZ - Get Free Report) CEO Kyle Malady sold 20,000 shares of Verizon Communications stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $40.54, for a total value of $810,800.00. Following the sale, the chief executive officer now directly owns 45,675 shares of the company's stock, valued at approximately $1,851,664.50. This represents a 30.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Kyle Malady also recently made the following trade(s):

• On Wednesday, January 29th, Kyle Malady sold 11,085 shares of Verizon Communications stock. The stock was sold at an average price of $40.88, for a total transaction of $453,154.80.

Verizon Communications Price Performance

Verizon Communications stock traded down $0.07 during midday trading on Friday, reaching $39.41. The company had a trading volume of 45,176,702 shares, compared to its average volume of 22,944,896. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36. The firm's fifty day simple moving average is $40.61 and its 200-day simple moving average is $41.57. 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 company has a market capitalization of $165.88 billion, a P/E ratio of 9.52, a P/E/G ratio of 4.21 and a beta of 0.46.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same period last year, the business earned $1.08 earnings per share. As a group, equities analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.88%. The ex-dividend date is Friday, January 10th. Verizon Communications's dividend payout ratio (DPR) is 65.46%.

Analyst Ratings Changes

VZ has been the topic of several recent research reports. Sanford C. Bernstein initiated coverage on shares of Verizon Communications in a report on Tuesday, December 10th. They issued a "market perform" rating and a $48.00 price objective on the stock. Argus raised shares of Verizon Communications to a "strong-buy" rating in a report on Monday, January 27th. TD Cowen upgraded Verizon Communications to a "strong-buy" rating in a research note on Wednesday, January 15th. Wolfe Research upped their target price on Verizon Communications from $50.00 to $51.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Finally, Royal Bank of Canada dropped their target price on Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $46.08.

Hedge Funds Weigh In On Verizon Communications

Hedge funds and other institutional investors have recently modified their holdings of the business. Fermata Advisors LLC raised its holdings in shares of Verizon Communications by 4.5% during the 3rd quarter. Fermata Advisors LLC now owns 5,626 shares of the cell phone carrier's stock worth $253,000 after acquiring an additional 243 shares during the period. Austin Private Wealth LLC raised its stake in Verizon Communications by 3.0% during the third quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier's stock worth $379,000 after purchasing an additional 243 shares during the period. Cary Street Partners Asset Management LLC boosted its holdings in Verizon Communications by 3.4% in the 3rd quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier's stock valued at $343,000 after purchasing an additional 249 shares during the last quarter. Wynn Capital LLC grew its stake in shares of Verizon Communications by 4.4% in the 3rd quarter. Wynn Capital LLC now owns 5,945 shares of the cell phone carrier's stock valued at $267,000 after buying an additional 250 shares during the period. Finally, Western Financial Corp CA increased its holdings in shares of Verizon Communications by 1.5% during the 3rd quarter. Western Financial Corp CA now owns 17,491 shares of the cell phone carrier's stock worth $786,000 after buying an additional 250 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Company Profile

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).