Verizon Communications (NYSE:VZ) Cut to “Hold (C+)” at Weiss Ratings

Weiss Ratings downgraded shares of Verizon Communications (NYSE:VZ) from a buy (b-) rating to a hold (c+) rating in a report published on Friday,Weiss Ratings reports.

Several other research analysts have also commented on the stock. BNP Paribas Exane lowered shares of Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 price objective for the company. in a report on Tuesday, October 21st. Royal Bank Of Canada upped their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. BNP Paribas lowered shares of Verizon Communications from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Scotiabank upped their price objective on shares of Verizon Communications from $50.00 to $50.50 and gave the stock a “sector perform” rating in a report on Monday, October 6th. Finally, Wall Street Zen downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $47.41.

Verizon Communications Stock Up 1.1%

Shares of NYSE VZ opened at $38.83 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. Verizon Communications has a 12 month low of $37.58 and a 12 month high of $47.35. The firm has a market capitalization of $163.70 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 2.93 and a beta of 0.37. The firm has a fifty day simple moving average of $42.84 and a two-hundred day simple moving average of $42.97.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.69 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 annualized dividend and a yield of 7.1%. Verizon Communications’s payout ratio is currently 64.34%.

Institutional Trading of Verizon Communications

Several institutional investors have recently bought and sold shares of VZ. Brighton Jones LLC grew its position in Verizon Communications by 61.2% during 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 last quarter. GAMMA Investing LLC boosted its holdings in shares of Verizon Communications by 14.7% during the 1st quarter. GAMMA Investing LLC now owns 68,641 shares of the cell phone carrier’s stock valued at $3,114,000 after acquiring an additional 8,800 shares during the last quarter. Spire Wealth Management boosted its holdings in shares of Verizon Communications by 3.5% during the 1st quarter. Spire Wealth Management now owns 51,791 shares of the cell phone carrier’s stock valued at $2,349,000 after acquiring an additional 1,774 shares during the last quarter. Pure Financial Advisors LLC boosted its holdings in shares of Verizon Communications by 50.8% during the 1st quarter. Pure Financial Advisors LLC now owns 16,311 shares of the cell phone carrier’s stock valued at $740,000 after acquiring an additional 5,496 shares during the last quarter. Finally, KPP Advisory Services LLC purchased a new stake in shares of Verizon Communications during the 1st quarter valued at about $249,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

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).