Verizon Communications (NYSE:VZ) Shares Down 0.9% – Time to Sell?

Shares of Verizon Communications Inc. (NYSE:VZ) dropped 0.9% during trading on Wednesday . The stock traded as low as $42.50 and last traded at $42.48. Approximately 3,720,698 shares traded hands during trading, a decline of 79% from the average daily volume of 17,681,814 shares. The stock had previously closed at $42.87.

Analyst Ratings Changes

Several brokerages recently weighed in on VZ. Argus raised shares of Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. Sanford C. Bernstein initiated coverage on shares of Verizon Communications in a report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective on the stock. Tigress Financial reaffirmed a “buy” rating and set a $55.00 price objective on shares of Verizon Communications in a research report on Thursday, January 30th. UBS Group upped their target price on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. Finally, DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Wednesday, January 29th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.11.

Verizon Communications Stock Performance

The stock has a market capitalization of $194.20 billion, a PE ratio of 11.14, a PEG ratio of 4.45 and a beta of 0.45. The business’s 50 day moving average is $40.49 and its 200 day moving average is $41.79. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21.

Verizon Communications (NYSE:VZ) last released its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same period in the prior year, the company earned $1.08 EPS. On average, equities research analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date of this dividend is Thursday, April 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 65.46%.

Insiders Place Their Bets

In other news, CEO Kyle Malady sold 20,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $40.54, for a total transaction of $810,800.00. Following the transaction, the chief executive officer now directly owns 45,675 shares in the company, valued at approximately $1,851,664.50. This trade represents a 30.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vandana Venkatesh sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the completion of the transaction, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at approximately $633,159.61. The trade was a 40.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,085 shares of company stock worth $2,020,895. 0.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Verizon Communications

Hedge funds and other institutional investors have recently modified their holdings of the stock. NCM Capital Management LLC increased its position in shares of Verizon Communications by 1.4% in the 4th quarter. NCM Capital Management LLC now owns 18,390 shares of the cell phone carrier’s stock valued at $735,000 after acquiring an additional 245 shares during the period. First Personal Financial Services raised its stake in shares of Verizon Communications by 0.3% during the 3rd quarter. First Personal Financial Services now owns 91,092 shares of the cell phone carrier’s stock valued at $4,091,000 after buying an additional 250 shares during the last quarter. Encompass Wealth Advisors LLC raised its position in Verizon Communications by 2.0% during the third quarter. Encompass Wealth Advisors LLC now owns 12,505 shares of the cell phone carrier’s stock valued at $562,000 after acquiring an additional 250 shares in the last quarter. Kirtland Hills Capital Management LLC lifted its stake in shares of Verizon Communications by 2.4% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier’s stock valued at $439,000 after purchasing an additional 252 shares during the period. Finally, First Dallas Securities Inc. raised its position in shares of Verizon Communications by 0.8% in the third quarter. First Dallas Securities Inc. now owns 31,728 shares of the cell phone carrier’s stock worth $1,425,000 after acquiring an additional 257 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

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).