Verizon Communications (NYSE:VZ) Trading Down 0.2% Following Insider Selling

Verizon Communications Inc. (NYSE:VZ - Get Free Report) shares were down 0.2% on Wednesday following insider selling activity. The company traded as low as $40.27 and last traded at $40.32. Approximately 5,544,674 shares were traded during trading, a decline of 77% from the average daily volume of 24,414,332 shares. The stock had previously closed at $40.40.

Specifically, CEO Kyle Malady sold 20,000 shares of the business's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $40.54, for a total transaction of $810,800.00. Following the sale, the chief executive officer now owns 45,675 shares of the company's stock, valued at approximately $1,851,664.50. The trade was a 30.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Wall Street Analyst Weigh In

VZ has been the topic of a number of research reports. Royal Bank of Canada lowered their price target on Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. Scotiabank raised their price target on Verizon Communications from $47.00 to $47.50 and gave the company a "sector perform" rating in a research report on Monday. StockNews.com lowered shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a research report on Monday, December 16th. TD Cowen raised shares of Verizon Communications to a "strong-buy" rating in a research note on Wednesday, January 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a "hold" rating in a research report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $46.08.

Verizon Communications Trading Down 2.0 %

The business has a 50 day simple moving average of $40.75 and a 200-day simple moving average of $41.60. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $166.13 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 3.27 and a beta of 0.46.

Verizon Communications (NYSE:VZ - Get Free Report) last released its 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 net margin of 7.30% and a return on equity of 20.05%. During the same quarter in the previous year, the company earned $1.08 earnings per share. On average, equities analysts predict that Verizon Communications Inc. will post 4.59 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. Investors of record on Friday, January 10th will be given a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.87%. The ex-dividend date is Friday, January 10th. Verizon Communications's dividend payout ratio (DPR) is currently 116.81%.

Institutional Investors Weigh In On Verizon Communications

A number of institutional investors have recently added to or reduced their stakes in VZ. Quarry LP lifted its stake in shares of Verizon Communications by 57.2% during the second quarter. Quarry LP now owns 2,303 shares of the cell phone carrier's stock worth $95,000 after purchasing an additional 838 shares in the last quarter. New Century Financial Group LLC purchased a new stake in shares of Verizon Communications during the 2nd quarter valued at about $537,000. Strategic Investment Solutions Inc. IL acquired a new position in Verizon Communications during the 2nd quarter worth approximately $178,000. Sanctuary Advisors LLC purchased a new position in Verizon Communications in the 2nd quarter worth approximately $33,532,000. Finally, Heritage Wealth Management Inc. acquired a new stake in Verizon Communications in the second quarter valued at approximately $893,000. Hedge funds and other 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).