Verizon Communications (NYSE:VZ) Shares Up 0.1%

Verizon Communications Inc. (NYSE:VZ)’s stock price shot up 0.1% during mid-day trading on Tuesday . The company traded as high as $40.93 and last traded at $40.90. 4,577,207 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 20,124,180 shares. The stock had previously closed at $40.87.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VZ. KeyCorp upped their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Oppenheimer reissued an “outperform” rating and issued a $43.00 price target on shares of Verizon Communications in a report on Tuesday, December 19th. Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and increased their price objective for the company from $33.00 to $39.00 in a research report on Friday, March 22nd. Royal Bank of Canada upped their price target on Verizon Communications from $35.00 to $36.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 20th. Finally, StockNews.com cut Verizon Communications from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.86.

Verizon Communications Price Performance

The company has a quick ratio of 0.65, a current ratio of 0.69 and a debt-to-equity ratio of 1.47. The company’s fifty day moving average is $40.52 and its 200 day moving average is $37.31. The firm has a market cap of $174.65 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 3.31 and a beta of 0.40.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. The firm had revenue of $35.10 billion for the quarter, compared to analyst estimates of $34.60 billion. During the same quarter in the previous year, the firm earned $1.19 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. On average, equities research analysts predict that Verizon Communications Inc. will post 4.61 EPS for the current year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 6.40%. The ex-dividend date of this dividend is Tuesday, April 9th. Verizon Communications’s dividend payout ratio is 96.38%.

Insider Activity

In other news, CEO Kyle Malady sold 24,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total transaction of $979,200.00. Following the transaction, the chief executive officer now owns 35,201 shares in the company, valued at $1,436,200.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Verizon Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VZ. HighPoint Advisor Group LLC acquired a new position in Verizon Communications during the fourth quarter valued at approximately $6,136,000. Livelsberger Financial Advisory bought a new position in shares of Verizon Communications in the 4th quarter valued at $52,000. Grayhawk Investment Strategies Inc. acquired a new position in shares of Verizon Communications during the 4th quarter worth $658,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Verizon Communications in the fourth quarter valued at about $5,131,000. Finally, Accent Capital Management LLC bought a new position in Verizon Communications in the fourth quarter valued at about $151,000. 62.06% of the stock is owned by institutional investors and hedge funds.

About Verizon Communications

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).