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

Verizon Communications Inc. (NYSE:VZ) CEO Kyle Malady sold 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $50.50, for a total transaction of $55,550.00. Following the completion of the transaction, the chief executive officer owned 107,666 shares of the company’s stock, valued at $5,437,133. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kyle Malady also recently made the following trade(s):

• On Tuesday, August 25th, Kyle Malady sold 1,100 shares of Verizon Communications stock. The stock was sold at an average price of $50.06, for a total transaction of $55,066.00.
• On Tuesday, August 18th, Kyle Malady sold 1,100 shares of Verizon Communications stock. The shares were sold at an average price of $48.68, for a total transaction of $53,548.00.

Verizon Communications Stock Up 0.6%

Shares of VZ opened at $50.52 on Friday. Verizon Communications Inc. has a one year low of $38.39 and a one year high of $51.68. The company has a market cap of $209.90 billion, a P/E ratio of 13.16, a P/E/G ratio of 1.71 and a beta of 0.26. 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 firm has a 50 day simple moving average of $46.25 and a two-hundred day simple moving average of $47.46.

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Royal Bank Of Canada raised their price objective on Verizon Communications from $46.00 to $47.00 and gave the company a “sector perform” rating in a research note on Monday, July 27th. Freedom Capital raised Verizon Communications to a “hold” rating in a research note on Friday, June 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Verizon Communications in a report on Wednesday, August 26th. Wells Fargo & Company increased their target price on shares of Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Finally, Morgan Stanley raised their price target on shares of Verizon Communications from $50.00 to $52.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Eight analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $50.97.

Institutional Investors Weigh In On Verizon Communications

Hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its position in Verizon Communications by 4,016.0% in the 2nd quarter. California State Teachers Retirement System now owns 271,369,762 shares of the cell phone carrier’s stock valued at $11,489,796,000 after acquiring an additional 264,776,704 shares during the period. State Street Corp lifted its holdings in shares of Verizon Communications by 3.5% during the fourth quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock worth $9,080,810,000 after purchasing an additional 7,461,335 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Verizon Communications by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier’s stock worth $4,747,930,000 after purchasing an additional 5,851,715 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Verizon Communications by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 102,632,509 shares of the cell phone carrier’s stock worth $4,168,080,000 after purchasing an additional 867,694 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Verizon Communications by 15.4% in the first quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier’s stock valued at $3,117,471,000 after purchasing an additional 8,289,877 shares during the period. 62.06% of the stock is currently owned by institutional investors and hedge funds.

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.