Angeles Wealth Management LLC Takes Position in VeriSign, Inc. $VRSN

Angeles Wealth Management LLC bought a new stake in shares of VeriSign, Inc. (NASDAQ:VRSN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 696 shares of the information services provider’s stock, valued at approximately $201,000.

Several other institutional investors also recently made changes to their positions in VRSN. AQR Capital Management LLC grew its holdings in shares of VeriSign by 75.5% during the first quarter. AQR Capital Management LLC now owns 2,329,640 shares of the information services provider’s stock valued at $586,417,000 after purchasing an additional 1,002,510 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of VeriSign by 477.1% during the first quarter. Alliancebernstein L.P. now owns 791,271 shares of the information services provider’s stock valued at $200,880,000 after purchasing an additional 654,170 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of VeriSign by 161.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 860,068 shares of the information services provider’s stock worth $248,388,000 after buying an additional 531,041 shares during the period. Amundi boosted its position in shares of VeriSign by 71.3% during the first quarter. Amundi now owns 1,202,278 shares of the information services provider’s stock worth $307,098,000 after buying an additional 500,223 shares during the period. Finally, Nuveen LLC acquired a new position in shares of VeriSign during the first quarter worth approximately $86,014,000. 92.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on VRSN shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of VeriSign in a research report on Wednesday, October 8th. Robert W. Baird boosted their price objective on VeriSign from $285.00 to $305.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 1st. Finally, Citigroup reiterated a “buy” rating on shares of VeriSign in a research report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, VeriSign has a consensus rating of “Buy” and a consensus price target of $277.50.

Insider Buying and Selling

In other VeriSign news, EVP Thomas C. Indelicarto sold 501 shares of the company’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $262.92, for a total value of $131,722.92. Following the completion of the sale, the executive vice president directly owned 34,189 shares in the company, valued at $8,988,971.88. This represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO D James Bidzos sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $264.06, for a total value of $528,120.00. Following the completion of the sale, the chief executive officer owned 469,439 shares of the company’s stock, valued at $123,960,062.34. This trade represents a 0.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,706 shares of company stock valued at $10,591,676 over the last 90 days. 0.84% of the stock is currently owned by insiders.

VeriSign Price Performance

VRSN opened at $264.79 on Friday. The company has a market capitalization of $24.73 billion, a price-to-earnings ratio of 31.60 and a beta of 0.79. VeriSign, Inc. has a 1-year low of $175.62 and a 1-year high of $310.60. The business has a 50 day moving average price of $274.72 and a two-hundred day moving average price of $274.17.

VeriSign (NASDAQ:VRSN) last released its earnings results on Thursday, July 24th. The information services provider reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.01. The firm had revenue of $409.90 million during the quarter, compared to the consensus estimate of $410.35 million. VeriSign had a negative return on equity of 40.87% and a net margin of 50.05%.The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.01 earnings per share. VeriSign has set its FY 2025 guidance at EPS.

VeriSign Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Tuesday, August 19th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, August 19th. VeriSign’s dividend payout ratio is 36.75%.

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

VeriSign Profile

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.