Verizon Communications (NYSE:VZ) Trading Down 0.7%

Shares of Verizon Communications Inc. (NYSE:VZ) fell 0.7% on Tuesday . The company traded as low as $39.45 and last traded at $39.81. 2,957,703 shares changed hands during trading, a decline of 85% from the average session volume of 19,945,047 shares. The stock had previously closed at $40.09.

Analysts Set New Price Targets

A number of research analysts have weighed in on VZ shares. Redburn Atlantic raised Verizon Communications from a “sell” rating to a “neutral” rating and increased their target price for the company from $33.00 to $39.00 in a report on Friday, March 22nd. UBS Group boosted their price objective on shares of Verizon Communications from $37.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Wolfe Research upgraded shares of Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective on the stock in a research report on Thursday, January 4th. Citigroup upped their price objective on Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Finally, Tigress Financial increased their price target on shares of Verizon Communications from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.21.

Verizon Communications Stock Down 1.3 %

The business has a 50 day moving average of $40.45 and a two-hundred day moving average of $38.67. The stock has a market capitalization of $166.60 billion, a PE ratio of 14.85, a PEG ratio of 2.88 and a beta of 0.41. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.71.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. The firm had revenue of $33 billion during the quarter, compared to analysts’ expectations of $33.23 billion. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 EPS. Analysts predict that Verizon Communications Inc. will post 4.6 EPS for the current year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.66 annualized dividend and a dividend yield of 6.72%. Verizon Communications’s dividend payout ratio (DPR) is presently 99.25%.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 24,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total value of $979,200.00. Following the completion of the transaction, the chief executive officer now directly owns 35,201 shares of the company’s stock, valued at $1,436,200.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Verizon Communications

Institutional investors and hedge funds have recently bought and sold shares of the business. LFA Lugano Financial Advisors SA boosted its stake in Verizon Communications by 627.8% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock worth $25,000 after buying an additional 565 shares during the period. Criterion Capital Advisors LLC acquired a new position in Verizon Communications during the fourth quarter worth $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Verizon Communications in the 4th quarter valued at $29,000. Morton Brown Family Wealth LLC lifted its position in shares of Verizon Communications by 130.1% during the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after purchasing an additional 488 shares in the last quarter. Finally, HBC Financial Services PLLC raised its stake in Verizon Communications by 320.0% in the third quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier’s stock valued at $34,000 after buying an additional 800 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

About Verizon Communications

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).