Verizon Communications (NYSE:VZ) Shares Down 2.6% on Insider Selling

Verizon Communications Inc. (NYSE:VZ - Get Free Report) shares were down 2.6% on Friday following insider selling activity. The stock traded as low as $41.45 and last traded at $41.70. Approximately 6,916,399 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 20,076,056 shares. The stock had previously closed at $42.81.

Specifically, CEO Kyle Malady sold 5,000 shares of Verizon Communications stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $42.48, for a total transaction of $212,400.00. Following the transaction, the chief executive officer now owns 36,508 shares in the company, valued at $1,550,859.84. The trade was a 12.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

A number of analysts have recently commented on VZ shares. TD Cowen upgraded Verizon Communications to a "strong-buy" rating in a report on Wednesday, January 15th. DZ Bank raised shares of Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price objective on the stock in a research report on Wednesday, January 29th. Argus raised shares of Verizon Communications to a "strong-buy" rating in a research report on Monday, January 27th. Tigress Financial reissued a "buy" rating and set a $55.00 price target on shares of Verizon Communications in a research report on Thursday, January 30th. Finally, StockNews.com downgraded shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 13th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $47.35.

Verizon Communications Price Performance

The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The company has a 50 day moving average of $43.63 and a 200-day moving average of $41.99. The firm has a market capitalization of $175.36 billion, a P/E ratio of 10.07, a P/E/G ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. The firm had revenue of $33.50 billion for the quarter, compared to analyst estimates of $33.31 billion. On average, sell-side analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.6775 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.51%. Verizon Communications's payout ratio is 65.46%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Citizens National Bank Trust Department raised its position in shares of Verizon Communications by 10.7% in the 1st quarter. Citizens National Bank Trust Department now owns 10,364 shares of the cell phone carrier's stock valued at $470,000 after buying an additional 1,000 shares in the last quarter. Avidian Wealth Enterprises LLC raised its position in Verizon Communications by 8.8% during the first quarter. Avidian Wealth Enterprises LLC now owns 13,573 shares of the cell phone carrier's stock valued at $616,000 after purchasing an additional 1,099 shares in the last quarter. Hills Bank & Trust Co lifted its stake in Verizon Communications by 11.4% during the first quarter. Hills Bank & Trust Co now owns 25,332 shares of the cell phone carrier's stock worth $1,149,000 after purchasing an additional 2,592 shares during the last quarter. KBC Group NV boosted its holdings in shares of Verizon Communications by 279.3% in the 1st quarter. KBC Group NV now owns 5,103,677 shares of the cell phone carrier's stock valued at $231,503,000 after purchasing an additional 3,758,238 shares in the last quarter. Finally, Emerald Advisors LLC raised its holdings in shares of Verizon Communications by 7.4% during the 1st quarter. Emerald Advisors LLC now owns 20,780 shares of the cell phone carrier's stock worth $943,000 after buying an additional 1,433 shares in the last quarter. Institutional investors own 62.06% of the company's stock.

About Verizon Communications

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).

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