Verizon Communications (NYSE:VZ) Shares Up 0.2% – Here’s Why

Verizon Communications Inc. (NYSE:VZ)’s stock price was up 0.2% during mid-day trading on Tuesday . The stock traded as high as $43.73 and last traded at $43.67. Approximately 3,795,132 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 18,343,427 shares. The stock had previously closed at $43.56.

Analyst Ratings Changes

VZ has been the topic of a number of recent analyst reports. Tigress Financial reiterated a “buy” rating and issued a $55.00 price objective on shares of Verizon Communications in a research note on Thursday, January 30th. Wolfe Research lowered Verizon Communications from an “outperform” rating to a “peer perform” rating in a report on Wednesday, March 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $45.00 price objective (up from $42.00) on shares of Verizon Communications in a research report on Tuesday. Sanford C. Bernstein began coverage on shares of Verizon Communications in a research report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 target price on the stock. Finally, UBS Group increased their price target on shares of Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus price target of $46.71.

Verizon Communications Stock Up 1.9 %

The firm has a fifty day moving average price of $41.85 and a 200 day moving average price of $42.05. The firm has a market capitalization of $189.50 billion, a price-to-earnings ratio of 10.87, a P/E/G ratio of 4.45 and a beta of 0.41. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same period last year, the business posted $1.08 earnings per share. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.6775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.02%. Verizon Communications’s dividend payout ratio (DPR) is currently 65.46%.

Insider Activity at Verizon Communications

In other news, EVP Vandana Venkatesh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now owns 14,459 shares of the company’s stock, valued at approximately $633,159.61. This trade represents a 40.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kyle Malady sold 11,085 shares of Verizon Communications stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total transaction of $453,154.80. Following the sale, the chief executive officer now owns 14,590 shares of the company’s stock, valued at approximately $596,439.20. This represents a 43.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,085 shares of company stock valued at $2,020,895 over the last quarter. Corporate insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Verizon Communications

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mainstream Capital Management LLC acquired a new stake in shares of Verizon Communications during the fourth quarter worth $28,000. Mattson Financial Services LLC grew its position in shares of Verizon Communications by 114.6% during the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock worth $31,000 after buying an additional 415 shares during the period. Legend Financial Advisors Inc. increased its stake in shares of Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after acquiring an additional 320 shares during the last quarter. Capital A Wealth Management LLC acquired a new stake in shares of Verizon Communications in the 4th quarter valued at approximately $32,000. Finally, Graney & King LLC bought a new position in Verizon Communications during the 4th quarter worth approximately $32,000. 62.06% of the stock is owned by 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).