Verizon Communications (NYSE:VZ) Trading Up 0.6%

Shares of Verizon Communications Inc. (NYSE:VZ) were up 0.6% during trading on Thursday . The stock traded as high as $40.04 and last traded at $40.00. Approximately 3,569,562 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 19,503,939 shares. The stock had previously closed at $39.78.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VZ. Wolfe Research raised shares of Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 target price for the company in a research report on Thursday, January 4th. Citigroup increased their price target on Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Tigress Financial boosted their price objective on Verizon Communications from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Royal Bank of Canada increased their target price on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 2nd. Finally, Barclays lifted their target price on shares of Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Verizon Communications Stock Up 0.9 %

The company has a 50 day moving average of $40.56 and a 200-day moving average of $38.24. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.69 and a quick ratio of 0.65. The company has a market cap of $170.27 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 3.25 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, meeting the consensus estimate of $1.08. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. The firm had revenue of $35.10 billion for the quarter, compared to analysts’ expectations of $34.60 billion. During the same quarter last year, the firm posted $1.19 EPS. The company’s revenue was down .6% compared to the same quarter last year. On average, equities analysts predict that Verizon Communications Inc. will post 4.58 earnings per share for the current year.

Verizon Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.66 dividend on an annualized basis and a yield of 6.57%. Verizon Communications’s dividend payout ratio is presently 96.38%.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 24,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total transaction of $979,200.00. Following the transaction, the chief executive officer now directly owns 35,201 shares of the company’s stock, valued at approximately $1,436,200.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Verizon Communications

Several institutional investors and hedge funds have recently made changes to their positions in VZ. Portland Investment Counsel Inc. lifted its stake in shares of Verizon Communications by 173.7% in the 3rd quarter. Portland Investment Counsel Inc. now owns 652,169 shares of the cell phone carrier’s stock valued at $21,137,000 after acquiring an additional 413,869 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its stake in shares of Verizon Communications by 1.3% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 127,632 shares of the cell phone carrier’s stock valued at $5,131,000 after purchasing an additional 1,616 shares during the period. 180 Wealth Advisors LLC grew its holdings in shares of Verizon Communications by 6.2% in the third quarter. 180 Wealth Advisors LLC now owns 51,757 shares of the cell phone carrier’s stock worth $1,677,000 after purchasing an additional 3,020 shares during the last quarter. GFS Advisors LLC purchased a new position in shares of Verizon Communications in the fourth quarter worth $212,000. Finally, Fidelity D & D Bancorp Inc. bought a new stake in Verizon Communications during the 3rd quarter valued at $306,000. Institutional investors own 62.06% of the company’s stock.

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).