Verizon Communications (NYSE:VZ) Shares Down 0.1% on Insider Selling

Verizon Communications Inc. (NYSE:VZ)’s stock price dropped 0.1% on Thursday after an insider sold shares in the company. The stock traded as low as $42.98 and last traded at $43.12. Approximately 5,542,964 shares traded hands during trading, a decline of 76% from the average daily volume of 22,654,162 shares. The stock had previously closed at $43.18.

Specifically, EVP Vandana Venkatesh sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the sale, the executive vice president now owns 14,459 shares of the company’s stock, valued at approximately $633,159.61. This trade represents a 40.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

VZ has been the topic of a number of research analyst reports. Argus raised Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. Royal Bank of Canada cut their price objective on Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft raised their price objective on Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a report on Friday, January 24th. StockNews.com downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. Finally, DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Wednesday, January 29th. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.08.

Verizon Communications Stock Performance

The company has a 50-day moving average price of $40.20 and a two-hundred day moving average price of $41.71. 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 stock has a market capitalization of $181.50 billion, a P/E ratio of 10.41, a price-to-earnings-growth ratio of 4.45 and a beta of 0.45.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share 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 period in the prior year, the business earned $1.08 earnings per share. On average, equities analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.29%. Verizon Communications’s dividend payout ratio (DPR) is presently 65.46%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VZ. Foundations Investment Advisors LLC increased its position in Verizon Communications by 27.7% in the 4th quarter. Foundations Investment Advisors LLC now owns 222,366 shares of the cell phone carrier’s stock valued at $8,892,000 after buying an additional 48,294 shares in the last quarter. Roffman Miller Associates Inc. PA increased its holdings in Verizon Communications by 1.8% during the 4th quarter. Roffman Miller Associates Inc. PA now owns 382,678 shares of the cell phone carrier’s stock worth $15,303,000 after purchasing an additional 6,795 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Verizon Communications during the 3rd quarter worth approximately $3,376,000. Burney Co. increased its holdings in Verizon Communications by 30.4% during the 4th quarter. Burney Co. now owns 186,621 shares of the cell phone carrier’s stock worth $7,463,000 after purchasing an additional 43,472 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in Verizon Communications by 1,934.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 1,080,015 shares of the cell phone carrier’s stock worth $48,503,000 after purchasing an additional 1,026,930 shares in the last quarter. 62.06% of the stock is owned by institutional investors.

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).