Kyle Malady, Executive Vice President and Group CEO-VZ Business at Verizon Communications Inc. (), sold 1,100 shares of the company’s common stock on August 18, 2026. The shares were sold at a price of $48.68 per share, totaling $53,548. The sale came as Verizon stock trades near its 52-week high of $51.68, with shares up 25% year-to-date. According to InvestingPro analysis, the stock remains undervalued at current levels, with the company offering a substantial 5.83% dividend yield.
The transaction was executed pursuant to a Rule 10b5-1 trading plan, which Mr. Malady adopted on May 18, 2026. Following this sale, Mr. Malady directly beneficially owns 109,866 shares of Verizon common stock, with an additional 20,200 shares held indirectly through a 401(k) plan. For deeper insights into Verizon’s valuation and performance, investors can access the comprehensive Pro Research Report, available for VZ and 1,400+ other US equities on InvestingPro.
In other recent news, Verizon Communications Inc. reported its second-quarter adjusted earnings, which surpassed Wall Street expectations with earnings per share of $1.30, compared to the projected $1.28. However, the company’s revenue fell slightly below forecasts, coming in at $34.3 billion versus the expected $35.28 billion. Despite the revenue miss, Verizon lifted its full-year guidance, focusing on stronger profitability and increased cash flow. In light of this performance, Scotiabank raised its price target for Verizon to $52.50, citing growth in mobility and broadband service revenue, as well as an improvement in postpaid phone net additions. Additionally, Bernstein SocGen Group increased its price target to $47, reflecting better-than-expected service revenue growth and enhanced EBITDA margins. These developments come amid plans by SpaceX to establish a mobile service network, potentially placing its Starlink division in direct competition with Verizon and other major telecom carriers. The strategic moves and financial performance indicate a dynamic period for Verizon as it navigates evolving market conditions.
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