Verizon Communications (NYSE:VZ) Shares Up 2.7% – Time to Buy?

Shares of Verizon Communications Inc. (NYSE:VZGet Free Report) traded up 2.7% on Thursday . The company traded as high as $47.52 and last traded at $47.2320. 22,595,869 shares were traded during mid-day trading, a decline of 27% from the average session volume of 30,833,174 shares. The stock had previously closed at $45.98.

Key Headlines Impacting Verizon Communications

Here are the key news stories impacting Verizon Communications this week:

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Evercore upped their price objective on Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Williams Trading set a $54.00 target price on Verizon Communications in a report on Monday, February 2nd. Scotiabank upgraded Verizon Communications from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $50.25 to $54.50 in a research report on Monday, March 9th. Wells Fargo & Company upped their price target on Verizon Communications from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, February 2nd. Finally, Barclays increased their price target on shares of Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 31st. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.56.

Read Our Latest Analysis on VZ

Verizon Communications Stock Performance

The firm has a market cap of $197.43 billion, a P/E ratio of 11.66, a PEG ratio of 1.19 and a beta of 0.29. 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 stock’s 50-day moving average is $49.15 and its 200 day moving average is $43.76.

Verizon Communications (NYSE:VZGet Free Report) last posted its earnings results on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during 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 company’s revenue was up 2.0% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. On average, research analysts predict that Verizon Communications Inc. will post 4.9 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be issued a dividend of $0.7075 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, April 10th. This represents a $2.83 annualized dividend and a dividend yield of 6.0%. Verizon Communications’s dividend payout ratio (DPR) is presently 69.88%.

Insider Activity at Verizon Communications

In related 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 completion of the sale, the executive vice president directly owned 44,045 shares of the company’s stock, valued at approximately $1,976,739.60. This represents a 17.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mary-Lee Stillwell sold 8,569 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $50.00, for a total transaction of $428,450.00. Following the sale, the senior vice president owned 43,782 shares in the company, valued at $2,189,100. This trade represents a 16.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 218,148 shares of company stock worth $10,780,356. 0.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Verizon Communications

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in shares of Verizon Communications by 61.2% in the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after purchasing an additional 16,704 shares during the period. United Bank lifted its holdings in shares of Verizon Communications by 11.5% in the second quarter. United Bank now owns 7,843 shares of the cell phone carrier’s stock valued at $339,000 after purchasing an additional 806 shares in the last quarter. Jump Financial LLC boosted its position in shares of Verizon Communications by 312.0% during the second quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier’s stock worth $1,023,000 after buying an additional 17,901 shares during the period. HUB Investment Partners LLC boosted its position in shares of Verizon Communications by 17.2% during the second quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier’s stock worth $1,779,000 after buying an additional 6,034 shares during the period. Finally, Vivaldi Capital Management LP lifted its stake in Verizon Communications by 5.2% in the 2nd quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier’s stock valued at $389,000 after acquiring an additional 443 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Company Profile

(Get Free Report)

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.

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