Verizon Communications (NYSE:VZ) Trading Down 1.1% – Here’s Why

Verizon Communications Inc. (NYSE:VZ)’s share price fell 1.1% during trading on Wednesday . The stock traded as low as $45.09 and last traded at $46.3790. Approximately 36,034,570 shares changed hands during trading, an increase of 24% from the average daily volume of 29,126,939 shares. The stock had previously closed at $46.88.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Morgan Stanley boosted their price target on Verizon Communications from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Freedom Capital upgraded shares of Verizon Communications to a “hold” rating in a research note on Friday, June 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Verizon Communications in a report on Friday, May 29th. Barclays lifted their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Finally, Erste Group Bank reissued a “hold” rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Nine analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications has an average rating of “Hold” and an average target price of $50.84.

Verizon Communications Stock Up 0.0%

The stock has a market cap of $195.28 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 1.29 and a beta of 0.25. The business’s 50 day moving average is $45.20 and its 200-day moving average is $46.70. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.57 and a current ratio of 0.60.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The company had revenue of $34.25 billion during the quarter, compared to analysts’ expectations of $35.16 billion. During the same period in the prior year, the business posted $1.22 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, sell-side analysts predict that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a $0.7075 dividend. This represents a $2.83 annualized dividend and a yield of 6.0%. The ex-dividend date was Friday, July 10th. Verizon Communications’s payout ratio is presently 73.70%.

Institutional Investors Weigh In On Verizon Communications

Several large investors have recently bought and sold shares of VZ. RKL Wealth Management LLC lifted its stake in shares of Verizon Communications by 4.3% in the 1st quarter. RKL Wealth Management LLC now owns 5,338 shares of the cell phone carrier’s stock worth $268,000 after acquiring an additional 218 shares during the period. Strategic Investment Solutions Inc. IL increased its stake in shares of Verizon Communications by 8.6% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 2,765 shares of the cell phone carrier’s stock worth $113,000 after acquiring an additional 219 shares during the period. Frazier Financial Advisors LLC increased its stake in shares of Verizon Communications by 32.7% during the first quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier’s stock worth $45,000 after acquiring an additional 219 shares during the period. FAS Wealth Partners Inc. raised its holdings in Verizon Communications by 1.2% during the first quarter. FAS Wealth Partners Inc. now owns 18,421 shares of the cell phone carrier’s stock worth $925,000 after purchasing an additional 223 shares in the last quarter. Finally, Sumitomo Life Insurance Co. lifted its position in Verizon Communications by 0.7% in the fourth quarter. Sumitomo Life Insurance Co. now owns 35,023 shares of the cell phone carrier’s stock valued at $1,426,000 after purchasing an additional 227 shares during the period. 62.06% of the stock is currently owned by hedge funds and other 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.