Verizon Communications (NYSE:VZ) Stock Price Down 0.6%

Verizon Communications Inc. (NYSE:VZ) was down 0.6% during mid-day trading on Wednesday . The company traded as low as $39.96 and last traded at $40.60. Approximately 3,794,283 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 19,675,801 shares. The stock had previously closed at $40.84.

Analyst Ratings Changes

A number of analysts have recently issued reports on VZ shares. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price objective on shares of Verizon Communications in a report on Wednesday, April 3rd. Royal Bank of Canada lifted their price objective on shares of Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a report on Tuesday, April 2nd. KeyCorp lifted their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Wolfe Research upgraded shares of Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective on the stock in a report on Thursday, January 4th. Finally, Wells Fargo & Company boosted their target price on shares of Verizon Communications from $40.00 to $44.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Verizon Communications Stock Performance

The company has a debt-to-equity ratio of 1.47, a current ratio of 0.69 and a quick ratio of 0.65. The stock’s 50-day simple moving average is $40.65 and its 200 day simple moving average is $37.93. The stock has a market capitalization of $168.80 billion, a P/E ratio of 14.55, a PEG ratio of 3.39 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $1.08 EPS for the quarter, hitting analysts’ consensus estimates of $1.08. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The firm had revenue of $35.10 billion during the quarter, compared to analysts’ expectations of $34.60 billion. During the same period in the previous year, the business posted $1.19 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. Research analysts expect that Verizon Communications Inc. will post 4.59 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.665 per share. The ex-dividend date is Tuesday, April 9th. This represents a $2.66 dividend on an annualized basis and a yield of 6.63%. Verizon Communications’s dividend payout ratio (DPR) is 96.38%.

Insiders Place Their Bets

In other news, CEO Kyle Malady sold 24,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were 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 owns 35,201 shares of the company’s stock, valued at $1,436,200.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Verizon Communications

Institutional investors have recently modified their holdings of the business. LFA Lugano Financial Advisors SA boosted its position in shares of Verizon Communications by 627.8% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock valued at $25,000 after acquiring an additional 565 shares during the period. Criterion Capital Advisors LLC bought a new stake in Verizon Communications during the fourth quarter worth about $25,000. Vermillion & White Wealth Management Group LLC bought a new stake in Verizon Communications during the fourth quarter worth about $29,000. CGC Financial Services LLC bought a new stake in Verizon Communications during the second quarter worth about $32,000. Finally, Morton Brown Family Wealth LLC lifted its position in Verizon Communications by 130.1% during the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after purchasing an additional 488 shares during the period. Institutional investors own 62.06% of the company’s stock.

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).