Verizon Communications (NYSE:VZ) Given New $52.00 Price Target at Tigress Financial

Verizon Communications (NYSE:VZFree Report) had its price target lifted by Tigress Financial from $50.00 to $52.00 in a research note published on Friday, Benzinga reports. The firm currently has a buy rating on the cell phone carrier’s stock.

Several other research firms have also recently issued reports on VZ. StockNews.com raised shares of Verizon Communications from a hold rating to a buy rating in a research report on Saturday, May 4th. Wells Fargo & Company dropped their price objective on shares of Verizon Communications from $44.00 to $40.00 and set an equal weight rating on the stock in a research note on Tuesday, April 23rd. Raymond James lifted their price objective on shares of Verizon Communications from $42.00 to $46.00 and gave the company an outperform rating in a research note on Wednesday, January 24th. Royal Bank of Canada lifted their price target on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a sector perform rating in a research note on Tuesday, April 2nd. Finally, Redburn Atlantic upgraded shares of Verizon Communications from a sell rating to a neutral rating and lifted their price target for the stock from $33.00 to $39.00 in a research note on Friday, March 22nd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $44.36.

View Our Latest Report on Verizon Communications

Verizon Communications Stock Performance

NYSE:VZ opened at $40.13 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. The firm has a 50-day moving average price of $40.34 and a two-hundred day moving average price of $39.38. Verizon Communications has a twelve month low of $30.14 and a twelve month high of $43.42. The company has a market capitalization of $168.92 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 2.91 and a beta of 0.42.

Verizon Communications (NYSE:VZGet Free Report) last released its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.03. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The company had revenue of $33 billion for the quarter, compared to analysts’ expectations of $33.23 billion. During the same period last year, the company earned $1.20 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, research analysts expect that Verizon Communications will post 4.6 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 6.63%. The ex-dividend date of this dividend was Tuesday, April 9th. Verizon Communications’s payout ratio is 99.25%.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 24,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total transaction of $979,200.00. Following the completion of the sale, the chief executive officer now directly owns 35,201 shares of the company’s stock, valued at $1,436,200.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.03% of the company’s stock.

Institutional Trading of Verizon Communications

Hedge funds have recently made changes to their positions in the stock. LFA Lugano Financial Advisors SA increased 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 buying an additional 565 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in Verizon Communications in the fourth quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in Verizon Communications in the fourth quarter worth approximately $29,000. Morton Brown Family Wealth LLC increased its holdings 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 worth $33,000 after buying an additional 488 shares during the last quarter. Finally, Pittenger & Anderson Inc. grew its holdings in Verizon Communications by 50.4% during the first quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock valued at $37,000 after purchasing an additional 296 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Company Profile

(Get Free Report)

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).

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Analyst Recommendations for Verizon Communications (NYSE:VZ)

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