Verizon Communications (NYSE:VZ) CEO Sells 1,100 Shares of Stock

Verizon Communications Inc. (NYSE:VZ) CEO Kyle Malady sold 1,100 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $48.68, for a total transaction of $53,548.00. Following the completion of the sale, the chief executive officer owned 109,866 shares in the company, valued at approximately $5,348,276.88. The trade was a 0.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Verizon Communications Price Performance

Shares of NYSE VZ traded up $0.60 during midday trading on Wednesday, reaching $49.14. 9,641,309 shares of the stock traded hands, compared to its average volume of 28,372,701. The company’s 50 day moving average is $45.41 and its 200 day moving average is $47.17. Verizon Communications Inc. has a one year low of $38.39 and a one year high of $51.68. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.60 and a quick ratio of 0.57. The stock has a market capitalization of $204.15 billion, a PE ratio of 12.79, a P/E/G ratio of 1.35 and a beta of 0.25.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. The company had revenue of $34.25 billion for the quarter, compared to the consensus estimate of $35.16 billion. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. Verizon Communications’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, equities research analysts anticipate that Verizon Communications Inc. will post 5.03 earnings per share for the current year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were issued a $0.7075 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.8%. Verizon Communications’s payout ratio is 73.70%.

Hedge Funds Weigh In On Verizon Communications

Hedge funds have recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC raised its holdings in shares of Verizon Communications by 490.0% in the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 539 shares during the period. Robinswood Financial LLC bought a new position in Verizon Communications in the 1st quarter valued at $27,000. Lam Group Inc. bought a new position in Verizon Communications in the 1st quarter valued at $28,000. EQ Wealth Advisors LLC purchased a new stake in Verizon Communications in the fourth quarter worth $29,000. Finally, Sarver Vrooman Wealth Advisors increased its stake in Verizon Communications by 173.0% in the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock worth $29,000 after purchasing an additional 448 shares during the period. 62.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on VZ shares. Wells Fargo & Company lifted their price target on Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of Verizon Communications in a research report on Friday, May 29th. Scotiabank raised their price objective on Verizon Communications from $51.50 to $52.50 and gave the company a “sector outperform” rating in a research note on Monday, July 27th. Royal Bank Of Canada lifted their target price on Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a report on Monday, July 27th. Finally, Moffett Nathanson cut their target price on Verizon Communications from $56.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 20th. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Verizon Communications presently has a consensus rating of “Hold” and an average target price of $50.84.

About Verizon Communications

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.