Verizon Communications (NYSE:VZ) Sets New 1-Year High – Here’s Why

Verizon Communications Inc. (NYSE:VZ) reached a new 52-week high during trading on Tuesday . The stock traded as high as $47.67 and last traded at $47.6850, with a volume of 14605642 shares changing hands. The stock had previously closed at $47.02.

Analyst Ratings Changes

VZ has been the topic of a number of analyst reports. Wells Fargo & Company boosted their target price on shares of Verizon Communications from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. TD Cowen reduced their price objective on shares of Verizon Communications from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Barclays assumed coverage on shares of Verizon Communications in a report on Thursday, January 22nd. They set an “equal weight” rating and a $43.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Finally, Royal Bank Of Canada increased their price objective on Verizon Communications from $44.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.02.

Verizon Communications Trading Up 1.2%

The company has a market capitalization of $200.73 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.95 and a beta of 0.33. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. The stock’s fifty day moving average price is $41.00 and its two-hundred day moving average price is $41.76.

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

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be given a $0.7075 dividend. The ex-dividend date of this dividend is Friday, April 10th. This represents a $2.83 annualized dividend and a dividend yield of 5.9%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.69. Verizon Communications’s dividend payout ratio is currently 68.15%.

Insider Activity at Verizon Communications

In related news, EVP Joseph J. Russo sold 9,579 shares of Verizon Communications 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 $1,976,739.60. The trade was a 17.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Verizon Communications

Several institutional investors and hedge funds have recently modified their holdings of the stock. Brighton Jones LLC boosted its position in shares of Verizon Communications by 61.2% during the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after buying an additional 16,704 shares during the last quarter. Bill Few Associates Inc. boosted its holdings in shares of Verizon Communications by 1.2% during the 2nd quarter. Bill Few Associates Inc. now owns 105,344 shares of the cell phone carrier’s stock valued at $4,558,000 after acquiring an additional 1,204 shares during the last quarter. Welch Group LLC grew its stake in shares of Verizon Communications by 0.9% in the second quarter. Welch Group LLC now owns 1,147,934 shares of the cell phone carrier’s stock worth $49,671,000 after acquiring an additional 10,030 shares during the period. MGO One Seven LLC raised its holdings in shares of Verizon Communications by 6.6% during the second quarter. MGO One Seven LLC now owns 71,217 shares of the cell phone carrier’s stock valued at $3,082,000 after purchasing an additional 4,380 shares during the last quarter. Finally, Griffin Asset Management Inc. lifted its position in Verizon Communications by 0.8% during the second quarter. Griffin Asset Management Inc. now owns 82,345 shares of the cell phone carrier’s stock valued at $3,563,000 after purchasing an additional 640 shares during the period. 62.06% of the stock is currently owned by institutional investors.

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.