Verizon Communications (NYSE:VZ) Stock Price Down 0.3%

Verizon Communications Inc. (NYSE:VZ)’s share price traded down 0.3% during trading on Friday . The company traded as low as $38.75 and last traded at $38.81. 3,598,444 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 19,901,850 shares. The stock had previously closed at $38.93.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VZ. Wells Fargo & Company reduced their price objective on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 23rd. Redburn Atlantic upgraded shares of Verizon Communications from a “sell” rating to a “neutral” rating and increased their target price for the stock from $33.00 to $39.00 in a report on Friday, March 22nd. Daiwa Capital Markets upgraded shares of Verizon Communications from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $36.00 to $47.00 in a research note on Wednesday, January 24th. Barclays increased their price objective on shares of Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Finally, UBS Group lifted their target price on Verizon Communications from $37.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.21.

Verizon Communications Price Performance

The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $163.70 billion, a P/E ratio of 14.51, a P/E/G ratio of 2.82 and a beta of 0.42. The company has a 50 day moving average price of $40.32 and a 200 day moving average price of $38.79.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 EPS 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 net margin of 8.44% and a return on equity of 20.41%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.20 earnings per share. On average, equities analysts predict that Verizon Communications Inc. will post 4.6 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date was Tuesday, April 9th. Verizon Communications’s dividend payout ratio is presently 99.25%.

Insider Activity

In related news, CEO Kyle Malady sold 24,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 35,201 shares in the company, valued at approximately $1,436,200.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.02% of the stock is owned by company insiders.

Institutional Trading of Verizon Communications

Several hedge funds and other institutional investors have recently bought and sold shares of VZ. WealthTrust Axiom LLC increased its holdings in Verizon Communications by 2.1% in the 4th quarter. WealthTrust Axiom LLC now owns 118,806 shares of the cell phone carrier’s stock valued at $4,479,000 after buying an additional 2,422 shares during the period. Portland Investment Counsel Inc. lifted its stake in Verizon Communications by 173.7% during the third quarter. Portland Investment Counsel Inc. now owns 652,169 shares of the cell phone carrier’s stock worth $21,137,000 after purchasing an additional 413,869 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in shares of Verizon Communications by 1.3% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 127,632 shares of the cell phone carrier’s stock valued at $5,131,000 after purchasing an additional 1,616 shares in the last quarter. 180 Wealth Advisors LLC raised its holdings in shares of Verizon Communications by 6.2% during the 3rd quarter. 180 Wealth Advisors LLC now owns 51,757 shares of the cell phone carrier’s stock worth $1,677,000 after buying an additional 3,020 shares in the last quarter. Finally, GFS Advisors LLC bought a new stake in shares of Verizon Communications during the 4th quarter worth $212,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

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).