Verizon Communications (NYSE:VZ) Shares Down 1.1% on Insider Selling

Verizon Communications Inc. (NYSE:VZ - Get Free Report) shares dropped 1.1% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $43.34 and last traded at $43.59. Approximately 4,932,350 shares were traded during trading, a decline of 75% from the average daily volume of 20,100,438 shares. The stock had previously closed at $44.06.

Specifically, CEO Kyle Malady sold 7,500 shares of Verizon Communications stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $43.88, for a total value of $329,100.00. Following the completion of the sale, the chief executive officer now owns 19,008 shares in the company, valued at $834,071.04. The trade was a 28.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $45.00 price target (up from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. DZ Bank raised Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 target price for the company in a research report on Wednesday, January 29th. Evercore ISI upgraded Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price objective for the company in a report on Friday, April 11th. Tigress Financial increased their target price on Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Verizon Communications from $40.00 to $42.00 and gave the company a "hold" rating in a research note on Friday, January 24th. Nine 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, Verizon Communications presently has an average rating of "Moderate Buy" and a consensus price target of $47.41.

Verizon Communications Stock Up 1.0 %

The firm has a market capitalization of $187.64 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41. 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 stock has a fifty day moving average of $43.68 and a 200 day moving average of $41.97.

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

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were paid a $0.6775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.20%. Verizon Communications's payout ratio is 64.52%.

Institutional Trading of Verizon Communications

A number of large investors have recently bought and sold shares of VZ. Fortis Group Advisors LLC grew its stake in shares of Verizon Communications by 17.2% during the 1st quarter. Fortis Group Advisors LLC now owns 26,206 shares of the cell phone carrier's stock worth $1,189,000 after acquiring an additional 3,852 shares during the period. Pettee Investors Inc. boosted its position in Verizon Communications by 8.4% during the first quarter. Pettee Investors Inc. now owns 20,630 shares of the cell phone carrier's stock worth $936,000 after purchasing an additional 1,597 shares during the period. Asset Advisors Investment Management LLC increased its stake in shares of Verizon Communications by 3.6% in the first quarter. Asset Advisors Investment Management LLC now owns 26,665 shares of the cell phone carrier's stock worth $1,210,000 after purchasing an additional 915 shares in the last quarter. Bailard Inc. raised its position in shares of Verizon Communications by 0.7% in the first quarter. Bailard Inc. now owns 76,486 shares of the cell phone carrier's stock valued at $3,469,000 after purchasing an additional 536 shares during the period. Finally, Woodward Diversified Capital LLC boosted its holdings in Verizon Communications by 5.8% in the 1st quarter. Woodward Diversified Capital LLC now owns 32,997 shares of the cell phone carrier's stock worth $1,497,000 after buying an additional 1,804 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

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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