Verizon Communications (NYSE:VZ) Stock Price Down 1.4% After Insider Selling

Verizon Communications Inc. (NYSE:VZ - Get Free Report) fell 1.4% during trading on Thursday following insider selling activity. The stock traded as low as $39.16 and last traded at $39.72. 9,838,446 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 24,620,922 shares. The stock had previously closed at $40.28.

Specifically, CEO Kyle Malady sold 20,000 shares of the company's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $40.54, for a total transaction of $810,800.00. Following the completion of the sale, the chief executive officer now directly owns 45,675 shares in the company, valued at $1,851,664.50. This represents a 30.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group upped their price objective on Verizon Communications from $44.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, December 20th. StockNews.com downgraded shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a research note on Monday, December 16th. Tigress Financial reaffirmed a "buy" rating and set a $55.00 price target on shares of Verizon Communications in a report on Thursday. Scotiabank increased their price objective on shares of Verizon Communications from $47.00 to $47.50 and gave the company a "sector perform" rating in a research note on Monday. Finally, Wolfe Research raised their price target on shares of Verizon Communications from $50.00 to $51.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $46.08.

Verizon Communications Stock Performance

The company has a market cap of $165.88 billion, a PE ratio of 9.52, a PEG ratio of 4.21 and a beta of 0.46. The company has a 50-day moving average of $40.69 and a 200-day moving average of $41.58. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the prior year, the business posted $1.08 earnings per share. As a group, analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.6775 per share. The ex-dividend date is Friday, January 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.88%. Verizon Communications's dividend payout ratio is currently 65.46%.

Hedge Funds Weigh In On Verizon Communications

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in Verizon Communications during the third quarter worth about $31,000. Legend Financial Advisors Inc. grew its position in shares of Verizon Communications by 69.6% during the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier's stock valued at $31,000 after acquiring an additional 320 shares during the period. Compass Financial Services Inc purchased a new stake in shares of Verizon Communications during the 4th quarter worth approximately $33,000. Accordant Advisory Group Inc raised its holdings in shares of Verizon Communications by 137.6% in the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier's stock worth $35,000 after purchasing an additional 450 shares during the period. Finally, Hager Investment Management Services LLC bought a new stake in shares of Verizon Communications in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 62.06% of the company's stock.

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).