Verizon Communications (NYSE:VZ) Stock Price Down 0.9%

Verizon Communications Inc. (NYSE:VZ) shares traded down 0.9% on Thursday . The stock traded as low as $40.11 and last traded at $40.17. 2,974,635 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 19,637,574 shares. The stock had previously closed at $40.52.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Oppenheimer reissued an “outperform” rating and issued a $48.00 target price on shares of Verizon Communications in a research report on Wednesday, April 3rd. Daiwa Capital Markets raised shares of Verizon Communications from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $36.00 to $47.00 in a research report on Wednesday, January 24th. Barclays boosted their target price on shares of Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. UBS Group boosted their target price on shares of Verizon Communications from $37.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Finally, Citigroup boosted their target price on shares of Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Verizon Communications Trading Down 1.1 %

The business’s 50 day moving average price is $40.60 and its two-hundred day moving average price is $37.98. The company has a market capitalization of $166.95 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 3.31 and a beta of 0.41. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.65 and a current ratio of 0.69.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.08. The company had revenue of $35.10 billion during the quarter, compared to analyst estimates of $34.60 billion. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.19 EPS. Equities analysts forecast that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date of this dividend is Tuesday, April 9th. Verizon Communications’s dividend payout ratio is currently 96.38%.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 24,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total value of $979,200.00. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Verizon Communications

Large investors have recently made changes to their positions in the company. Portland Investment Counsel Inc. raised its holdings in shares of 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 valued at $21,137,000 after acquiring an additional 413,869 shares during the period. Dynamic Advisor Solutions LLC increased its stake in 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 buying an additional 1,616 shares during the period. 180 Wealth Advisors LLC increased its stake in Verizon Communications by 6.2% in the 3rd quarter. 180 Wealth Advisors LLC now owns 51,757 shares of the cell phone carrier’s stock valued at $1,677,000 after buying an additional 3,020 shares during the period. GFS Advisors LLC acquired a new position in Verizon Communications in the 4th quarter valued at approximately $212,000. Finally, Fidelity D & D Bancorp Inc. acquired a new position in Verizon Communications in the 3rd quarter valued at approximately $306,000. 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).