Verizon Communications (NYSE:VZ) Stock Price Down 0.1%

Verizon Communications Inc. (NYSE:VZ) was down 0.1% during mid-day trading on Tuesday . The stock traded as low as $39.21 and last traded at $39.29. Approximately 2,683,011 shares changed hands during trading, a decline of 86% from the average daily volume of 19,740,373 shares. The stock had previously closed at $39.33.

Wall Street Analyst Weigh In

Several research firms have weighed in on VZ. Citigroup raised their price objective on shares of Verizon Communications from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Daiwa Capital Markets raised Verizon Communications from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $36.00 to $47.00 in a report on Wednesday, January 24th. Wells Fargo & Company lowered their target price on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 23rd. Redburn Atlantic raised Verizon Communications from a “sell” rating to a “neutral” rating and upped their price target for the company from $33.00 to $39.00 in a research note on Friday, March 22nd. Finally, Raymond James lifted their price objective on Verizon Communications from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus price target of $44.21.

Verizon Communications Price Performance

The company’s fifty day moving average price is $40.32 and its two-hundred day moving average price is $38.95. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.42. The company has a market cap of $165.09 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 2.82 and a beta of 0.42.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, beating the consensus estimate of $1.12 by $0.03. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The business had revenue of $33 billion for the quarter, compared to analysts’ expectations of $33.23 billion. During the same period in the previous year, the firm posted $1.20 EPS. The firm’s revenue was up .3% compared to the same quarter last year. On average, equities research analysts forecast that Verizon Communications Inc. will post 4.6 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 6.78%. The ex-dividend date of this dividend was Tuesday, April 9th. Verizon Communications’s dividend payout ratio is presently 99.25%.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 24,000 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total transaction of $979,200.00. Following the completion of 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.03% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VZ. WealthTrust Axiom LLC raised its position in Verizon Communications by 2.1% during the fourth quarter. WealthTrust Axiom LLC now owns 118,806 shares of the cell phone carrier’s stock worth $4,479,000 after acquiring an additional 2,422 shares in the last quarter. Portland Investment Counsel Inc. lifted its stake in Verizon Communications by 173.7% in the 3rd quarter. Portland Investment Counsel Inc. now owns 652,169 shares of the cell phone carrier’s stock valued at $21,137,000 after purchasing an additional 413,869 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in Verizon Communications by 1.3% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 127,632 shares of the cell phone carrier’s stock valued at $5,131,000 after purchasing an additional 1,616 shares during the last quarter. 180 Wealth Advisors LLC grew its holdings in Verizon Communications by 6.2% during the third quarter. 180 Wealth Advisors LLC now owns 51,757 shares of the cell phone carrier’s stock worth $1,677,000 after purchasing an additional 3,020 shares during the period. Finally, GFS Advisors LLC acquired a new position in Verizon Communications during the fourth quarter worth approximately $212,000. 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).