Verizon Communications (NYSE:VZ) Trading 0.6% Higher

Verizon Communications Inc. (NYSE:VZ) traded up 0.6% on Thursday . The stock traded as high as $40.04 and last traded at $40.00. 3,569,562 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 19,503,939 shares. The stock had previously closed at $39.78.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Citigroup lifted their price objective on Verizon Communications from $45.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Oppenheimer reissued an “outperform” rating and set a $48.00 price target on shares of Verizon Communications in a report on Wednesday, April 3rd. StockNews.com cut Verizon Communications from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Royal Bank of Canada boosted their price target on Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 2nd. Finally, Tigress Financial boosted their price target on Verizon Communications from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Verizon Communications Price Performance

The firm has a market cap of $168.00 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 3.24 and a beta of 0.41. The company has a current ratio of 0.69, a quick ratio of 0.65 and a debt-to-equity ratio of 1.47. The business has a 50-day moving average of $40.54 and a two-hundred day moving average of $38.17.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 EPS for the quarter, meeting analysts’ consensus estimates 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 company posted $1.19 EPS. The business’s revenue was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a $0.665 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.66%. Verizon Communications’s dividend payout ratio (DPR) is presently 96.38%.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 24,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total transaction of $979,200.00. Following the sale, the chief executive officer now owns 35,201 shares in the company, valued at approximately $1,436,200.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Verizon Communications

Several institutional investors and hedge funds have recently made changes to their positions in VZ. LFA Lugano Financial Advisors SA boosted its position in shares of Verizon Communications by 627.8% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock valued at $25,000 after purchasing an additional 565 shares in the last quarter. Criterion Capital Advisors LLC acquired a new position in Verizon Communications during the 4th quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in Verizon Communications during the 4th quarter worth approximately $29,000. Morton Brown Family Wealth LLC raised its stake in Verizon Communications by 130.1% during the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after buying an additional 488 shares during the period. Finally, HBC Financial Services PLLC raised its stake in Verizon Communications by 320.0% during the 3rd quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier’s stock worth $34,000 after buying an additional 800 shares during the period. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Company Profile

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).