Verizon Communications (NYSE:VZ) Trading Up 1.1% – Here’s Why

Verizon Communications Inc. (NYSE:VZ)’s share price traded up 1.1% during mid-day trading on Tuesday . The company traded as high as $44.17 and last traded at $44.13. 3,036,381 shares traded hands during trading, a decline of 83% from the average session volume of 18,109,110 shares. The stock had previously closed at $43.65.

Analysts Set New Price Targets

VZ has been the topic of several research reports. Tigress Financial reiterated a “buy” rating and set a $55.00 price objective on shares of Verizon Communications in a report on Thursday, January 30th. DZ Bank upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Wednesday, January 29th. Scotiabank increased their target price on Verizon Communications from $47.50 to $48.00 and gave the stock a “sector perform” rating in a report on Monday, March 3rd. UBS Group upped their price objective 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, Royal Bank of Canada decreased their target price on shares of Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. Eleven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.11.

Verizon Communications Price Performance

The firm’s 50 day moving average price is $41.30 and its two-hundred day moving average price is $41.98. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. The stock has a market cap of $184.90 billion, a PE ratio of 10.61, a P/E/G ratio of 4.45 and a beta of 0.41.

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

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.17%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s dividend payout ratio is presently 65.46%.

Insider Transactions at Verizon Communications

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now directly owns 14,459 shares in the company, valued at $633,159.61. This represents a 40.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kyle Malady sold 11,085 shares of Verizon Communications stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total value of $453,154.80. Following the sale, the chief executive officer now owns 14,590 shares of the company’s stock, valued at approximately $596,439.20. This trade represents a 43.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,085 shares of company stock valued at $2,020,895. 0.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Foundations Investment Advisors LLC lifted its holdings in shares of Verizon Communications by 27.7% during the 4th quarter. Foundations Investment Advisors LLC now owns 222,366 shares of the cell phone carrier’s stock worth $8,892,000 after acquiring an additional 48,294 shares during the last quarter. Roffman Miller Associates Inc. PA raised its holdings in shares of Verizon Communications by 1.8% during the 4th quarter. Roffman Miller Associates Inc. PA now owns 382,678 shares of the cell phone carrier’s stock valued at $15,303,000 after buying an additional 6,795 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Verizon Communications in the 3rd quarter worth approximately $3,376,000. Burney Co. boosted its stake in Verizon Communications by 30.4% in the fourth quarter. Burney Co. now owns 186,621 shares of the cell phone carrier’s stock worth $7,463,000 after buying an additional 43,472 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its position in Verizon Communications by 1,934.5% during the third quarter. Benjamin Edwards Inc. now owns 1,080,015 shares of the cell phone carrier’s stock valued at $48,503,000 after acquiring an additional 1,026,930 shares during 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).