Verizon Communications (NYSE:VZ) Trading Down 3.6% – Time to Sell?

Verizon Communications Inc. (NYSE:VZ)’s share price traded down 3.6% on Wednesday . The stock traded as low as $41.17 and last traded at $41.86. 16,867,488 shares were traded during trading, a decline of 7% from the average session volume of 18,118,731 shares. The stock had previously closed at $43.43.

Analyst Ratings Changes

VZ has been the subject of several analyst reports. Argus upgraded Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. Tigress Financial restated a “buy” rating and issued a $55.00 price target on shares of Verizon Communications in a research report on Thursday, January 30th. TD Cowen raised Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. UBS Group increased their target price on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. Finally, Sanford C. Bernstein began coverage on shares of Verizon Communications in a report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price target on the stock. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.11.

Verizon Communications Stock Down 1.7 %

The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. The firm has a market capitalization of $179.80 billion, a PE ratio of 10.31, a PEG ratio of 4.45 and a beta of 0.41. The company has a fifty day moving average price of $40.82 and a 200-day moving average price of $41.89.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same quarter in the previous year, the company posted $1.08 EPS. As a group, analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.6775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.34%. Verizon Communications’s dividend payout ratio is currently 65.46%.

Insider Buying and Selling at Verizon Communications

In related news, EVP Vandana Venkatesh sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total transaction of $437,900.00. Following the transaction, the executive vice president now directly owns 14,459 shares in the company, valued at approximately $633,159.61. This represents a 40.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kyle Malady sold 8,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.88, for a total transaction of $319,040.00. Following the completion of the sale, the chief executive officer now directly owns 6,590 shares of the company’s stock, valued at approximately $262,809.20. The trade was a 54.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,085 shares of company stock worth $2,020,895 over the last ninety days. Company insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Verizon Communications

Several hedge funds and other institutional investors have recently modified their holdings of VZ. Swedbank AB increased its stake in Verizon Communications by 0.8% in the 3rd quarter. Swedbank AB now owns 5,174,541 shares of the cell phone carrier’s stock worth $232,389,000 after buying an additional 39,403 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Verizon Communications during the third quarter worth approximately $31,000. Baker Avenue Asset Management LP raised its stake in shares of Verizon Communications by 43.9% during the third quarter. Baker Avenue Asset Management LP now owns 12,374 shares of the cell phone carrier’s stock valued at $556,000 after acquiring an additional 3,772 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Verizon Communications in the third quarter valued at approximately $666,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Verizon Communications by 588.2% in the third quarter. Venturi Wealth Management LLC now owns 33,969 shares of the cell phone carrier’s stock valued at $1,526,000 after purchasing an additional 29,033 shares during the period. 62.06% of the stock is currently 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).