Verizon Communications (NYSE:VZ) Stock Rating Upgraded by Argus

Argus upgraded shares of Verizon Communications (NYSE:VZ) to a strong-buy rating in a report published on Monday,Zacks.com reports.

Several other research firms have also weighed in on VZ. DZ Bank upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday. Royal Bank of Canada cut their price target on Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft upped their price target on Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Wolfe Research boosted their price objective on Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Sanford C. Bernstein initiated coverage on Verizon Communications in a research report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus price target of $46.08.

Verizon Communications Stock Down 0.4 %

Shares of Verizon Communications stock opened at $40.25 on Monday. The firm has a market cap of $169.43 billion, a price-to-earnings ratio of 17.35, a P/E/G ratio of 3.27 and a beta of 0.46. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62. Verizon Communications has a 52-week low of $37.58 and a 52-week high of $45.36. The stock has a 50-day simple moving average of $40.79 and a 200-day simple moving average of $41.61.

Verizon Communications (NYSE:VZ) last posted 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 20.05% and a net margin of 7.30%. During the same period last year, the business earned $1.08 earnings per share. On average, equities research analysts expect that Verizon Communications will post 4.59 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.73%. The ex-dividend date is Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 116.81%.

Insider Activity

In other Verizon Communications news, CEO Kyle Malady sold 20,000 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $40.54, for a total value of $810,800.00. Following the transaction, the chief executive officer now owns 45,675 shares of the company’s stock, valued at approximately $1,851,664.50. This represents a 30.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Verizon Communications

Several large investors have recently modified their holdings of VZ. Charles Schwab Investment Management Inc. grew its holdings in shares of Verizon Communications by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 101,273,082 shares of the cell phone carrier’s stock worth $4,548,163,000 after buying an additional 5,936,009 shares in the last quarter. International Assets Investment Management LLC grew its stake in Verizon Communications by 4,520.3% in the third quarter. International Assets Investment Management LLC now owns 4,815,534 shares of the cell phone carrier’s stock valued at $216,266,000 after purchasing an additional 4,711,309 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Verizon Communications in the third quarter valued at approximately $177,799,000. Assenagon Asset Management S.A. grew its stake in Verizon Communications by 184.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,428,540 shares of the cell phone carrier’s stock valued at $217,087,000 after purchasing an additional 3,519,258 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Verizon Communications by 77.1% in the third quarter. Janus Henderson Group PLC now owns 6,101,616 shares of the cell phone carrier’s stock valued at $274,052,000 after purchasing an additional 2,656,396 shares in the last quarter. 62.06% of the stock is currently owned by 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).