Banco Bilbao Vizcaya Argentaria S.A. Sells 325 Shares of VeriSign, Inc. $VRSN

Banco Bilbao Vizcaya Argentaria S.A. trimmed its stake in VeriSign, Inc. (NASDAQ:VRSN) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,459 shares of the information services provider’s stock after selling 325 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in VeriSign were worth $11,685,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Livelsberger Financial Advisory acquired a new stake in VeriSign during the second quarter worth $27,000. Bruce G. Allen Investments LLC boosted its position in shares of VeriSign by 56.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 35 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in VeriSign in the first quarter valued at about $34,000. Ameritas Advisory Services LLC bought a new stake in VeriSign in the second quarter valued at about $34,000. Finally, Bayforest Capital Ltd bought a new stake in VeriSign in the second quarter valued at about $34,000. Institutional investors own 92.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Citigroup restated a “buy” rating on shares of VeriSign in a research note on Friday, October 24th. Zacks Research upgraded VeriSign to a “hold” rating in a research report on Thursday, October 30th. Robert W. Baird set a $325.00 price target on VeriSign in a research note on Friday, October 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of VeriSign in a research note on Thursday. Finally, JPMorgan Chase & Co. began coverage on VeriSign in a report on Tuesday, October 28th. They set a “neutral” rating and a $270.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $281.67.

Insider Activity at VeriSign

In related news, EVP John Calys sold 1,001 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $242.71, for a total value of $242,952.71. Following the completion of the transaction, the executive vice president owned 24,734 shares in the company, valued at $6,003,189.14. The trade was a 3.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Danny R. Mcpherson sold 2,500 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $236.87, for a total value of $592,175.00. Following the transaction, the executive vice president directly owned 28,577 shares in the company, valued at approximately $6,769,033.99. This represents a 8.04% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 48,539 shares of company stock worth $12,990,759. 0.84% of the stock is currently owned by company insiders.

VeriSign Stock Performance

Shares of NASDAQ:VRSN opened at $252.88 on Friday. The business has a fifty day moving average of $265.20 and a 200-day moving average of $274.04. VeriSign, Inc. has a twelve month low of $176.62 and a twelve month high of $310.60. The firm has a market cap of $23.44 billion, a PE ratio of 29.47 and a beta of 0.76.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, October 23rd. The information services provider reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.02. VeriSign had a net margin of 49.86% and a negative return on equity of 40.66%. The business had revenue of $419.10 million for the quarter, compared to the consensus estimate of $416.71 million. During the same quarter in the prior year, the company earned $2.07 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. VeriSign has set its FY 2025 guidance at EPS.

VeriSign Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 18th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, November 18th. VeriSign’s dividend payout ratio is 35.90%.

VeriSign declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 24th that permits the company to buyback $1.11 billion in outstanding shares. This buyback authorization permits the information services provider to reacquire up to 4.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

About VeriSign

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.