Verizon Communications (NYSE:VZ) Trading Up 1.2% – Here’s Why

Verizon Communications Inc. (NYSE:VZ)’s stock price was up 1.2% on Friday . The company traded as high as $49.34 and last traded at $49.2440. Approximately 25,441,678 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 36,391,461 shares. The stock had previously closed at $48.64.

Analysts Set New Price Targets

A number of analysts have recently issued reports on VZ shares. Citigroup lifted their target price on Verizon Communications from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings upgraded Verizon Communications from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. Wells Fargo & Company upped their target price on Verizon Communications from $41.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, February 2nd. Scotiabank increased their target price on Verizon Communications from $48.00 to $50.25 and gave the company a “sector perform” rating in a research note on Monday, February 2nd. Finally, Barclays started coverage on shares of Verizon Communications in a research report on Thursday, January 22nd. They set an “equal weight” rating and a $43.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $49.02.

Verizon Communications Stock Up 1.2%

The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a market capitalization of $207.70 billion, a P/E ratio of 12.16, a P/E/G ratio of 2.01 and a beta of 0.33. The stock has a fifty day moving average price of $42.26 and a two-hundred day moving average price of $42.10.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Friday, January 30th. The cell phone carrier reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $36.38 billion during the quarter, compared to the consensus estimate of $36.20 billion. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.10 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. Research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be issued a $0.7075 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.69. This represents a $2.83 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Friday, April 10th. Verizon Communications’s dividend payout ratio is 68.15%.

Insider Buying and Selling at Verizon Communications

In other news, EVP Joseph J. Russo sold 9,579 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $44.88, for a total transaction of $429,905.52. Following the sale, the executive vice president directly owned 44,045 shares in the company, valued at approximately $1,976,739.60. This represents a 17.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Verizon Communications

Institutional investors and hedge funds have recently modified their holdings of the stock. Cambient Family Office LLC purchased a new position in Verizon Communications during the 4th quarter valued at about $528,000. White Knight Strategic Wealth Advisors LLC grew its stake in Verizon Communications by 55.8% in the fourth quarter. White Knight Strategic Wealth Advisors LLC now owns 35,736 shares of the cell phone carrier’s stock valued at $1,456,000 after purchasing an additional 12,803 shares in the last quarter. Vancity Investment Management Ltd raised its stake in shares of Verizon Communications by 24.1% during the 4th quarter. Vancity Investment Management Ltd now owns 7,665 shares of the cell phone carrier’s stock worth $312,000 after purchasing an additional 1,487 shares in the last quarter. Mcguire Capital Advisors Inc. acquired a new stake in shares of Verizon Communications during the 4th quarter valued at about $123,000. Finally, WealthPoint Financial LLC bought a new stake in shares of Verizon Communications in the 4th quarter valued at approximately $304,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

About Verizon Communications

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.