Verizon Communications (NYSE:VZ) Trading 0.3% Higher

Verizon Communications Inc. (NYSE:VZ) was up 0.3% during mid-day trading on Friday . The stock traded as high as $40.47 and last traded at $40.25. Approximately 4,930,878 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 19,515,059 shares. The stock had previously closed at $40.13.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on VZ shares. Raymond James increased their price target on Verizon Communications from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Redburn Atlantic raised Verizon Communications from a “sell” rating to a “neutral” rating and increased their price target for the stock from $33.00 to $39.00 in a research report on Friday, March 22nd. Tigress Financial increased their price target on Verizon Communications from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Royal Bank of Canada increased their price target on Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 2nd. Finally, Barclays increased their price target on Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Verizon Communications has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Verizon Communications Price Performance

The stock has a market capitalization of $169.26 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 3.25 and a beta of 0.41. The stock’s 50 day moving average is $40.54 and its two-hundred day moving average is $38.18. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.65 and a current ratio of 0.69.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.08. The firm had revenue of $35.10 billion for the quarter, compared to analyst estimates of $34.60 billion. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. Verizon Communications’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $1.19 EPS. On average, equities analysts anticipate that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 6.61%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is 96.38%.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 24,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total value of $979,200.00. Following the transaction, the chief executive officer now directly owns 35,201 shares of the company’s stock, valued at approximately $1,436,200.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. LFA Lugano Financial Advisors SA raised 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 buying an additional 565 shares during the period. Criterion Capital Advisors LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at approximately $29,000. Morton Brown Family Wealth LLC raised its position in shares of 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 valued at $33,000 after buying an additional 488 shares during the period. Finally, HBC Financial Services PLLC raised its position in shares of 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 valued at $34,000 after buying an additional 800 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

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).