Verizon Communications (NYSE:VZ) Trading Up 1.4% – Here’s Why

Verizon Communications Inc. (NYSE:VZ)’s share price traded up 1.4% during mid-day trading on Monday . The company traded as high as $50.28 and last traded at $50.1210. Approximately 19,428,216 shares traded hands during trading, a decline of 31% from the average daily volume of 28,185,506 shares. The stock had previously closed at $49.45.

Wall Street Analysts Forecast Growth

VZ has been the subject of several recent analyst reports. Erste Group Bank restated a “hold” rating on shares of Verizon Communications in a research report on Tuesday, May 5th. Morgan Stanley lifted 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. Scotiabank boosted their price objective on Verizon Communications from $51.50 to $52.50 and gave the stock a “sector outperform” rating in a research report on Monday, July 27th. BNP Paribas Exane decreased their price objective on Verizon Communications from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, July 14th. Finally, Barclays raised their target price on Verizon Communications from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Verizon Communications currently has an average rating of “Hold” and an average target price of $50.84.

Verizon Communications Stock Up 0.1%

The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36. The firm has a market cap of $208.52 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.40 and a beta of 0.25. The stock’s 50 day moving average is $45.65 and its 200 day moving average is $47.35.

Verizon Communications (NYSE:VZ) last announced its earnings results on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, topping the consensus estimate of $1.27 by $0.03. The firm had revenue of $34.25 billion for the quarter, compared to analysts’ expectations of $35.16 billion. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Analysts forecast that Verizon Communications Inc. will post 5.03 EPS for the current year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were issued a $0.7075 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.83 annualized dividend and a dividend yield of 5.6%. Verizon Communications’s dividend payout ratio is 73.70%.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 1,100 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $48.68, for a total transaction of $53,548.00. Following the completion of the transaction, the chief executive officer owned 109,866 shares of the company’s stock, valued at $5,348,276.88. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Verizon Communications

A number of institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System lifted its stake in Verizon Communications by 4,016.0% during the second quarter. California State Teachers Retirement System now owns 271,369,762 shares of the cell phone carrier’s stock valued at $11,489,796,000 after purchasing an additional 264,776,704 shares during the last quarter. State Street Corp grew its position in Verizon Communications by 3.5% in the fourth quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock worth $9,080,810,000 after buying an additional 7,461,335 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Verizon Communications by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier’s stock worth $4,747,930,000 after buying an additional 5,851,715 shares during the last quarter. Geode Capital Management LLC grew its position in Verizon Communications by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 102,632,509 shares of the cell phone carrier’s stock worth $4,168,080,000 after buying an additional 867,694 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Verizon Communications by 15.4% in the first quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier’s stock valued at $3,117,471,000 after buying an additional 8,289,877 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Company Profile

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.