Verizon Communications Inc. (NYSE:VZ) Short Interest Update

Verizon Communications Inc. (NYSE:VZ) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 41,250,000 shares, a drop of 14.0% from the March 31st total of 47,960,000 shares. Based on an average trading volume of 19,440,000 shares, the days-to-cover ratio is presently 2.1 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Barclays raised their target price on Verizon Communications from $42.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. Citigroup upped their price target on shares of Verizon Communications from $45.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Wells Fargo & Company reduced their target price on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 23rd. Finally, Daiwa Capital Markets upgraded Verizon Communications from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $36.00 to $47.00 in a research report on Wednesday, January 24th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.21.

Verizon Communications Trading Up 1.1 %

Shares of NYSE VZ opened at $40.10 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. Verizon Communications has a one year low of $30.14 and a one year high of $43.42. The business has a 50-day moving average price of $40.45 and a two-hundred day moving average price of $38.67. The firm has a market capitalization of $168.79 billion, a PE ratio of 14.96, a PEG ratio of 2.88 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.12 by $0.03. The business 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 firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company posted $1.20 earnings per share. As a group, analysts predict that Verizon Communications will post 4.6 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 6.63%. The ex-dividend date of this dividend is Tuesday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 99.25%.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 15,000 shares of Verizon Communications stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $40.33, for a total transaction of $604,950.00. Following the sale, the chief executive officer now directly owns 59,201 shares in the company, valued at $2,387,576.33. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.03% of the stock is owned by company insiders.

Institutional Trading of Verizon Communications

Several hedge funds and other institutional investors have recently modified their holdings of VZ. LFA Lugano Financial Advisors SA boosted its holdings in 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 worth $25,000 after purchasing an additional 565 shares in the last quarter. Criterion Capital Advisors LLC bought a new position in shares of Verizon Communications during the 4th quarter worth about $25,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Verizon Communications during the 4th quarter valued at about $29,000. Morton Brown Family Wealth LLC increased its stake in Verizon Communications by 130.1% in the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock valued at $33,000 after acquiring an additional 488 shares during the period. Finally, HBC Financial Services PLLC raised its position in Verizon Communications by 320.0% in the third quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier’s stock worth $34,000 after purchasing an additional 800 shares in the last quarter. 62.06% of the stock is currently owned by hedge funds and other 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).