Verizon Communications (NYSE:VZ) Trading Up 0.4%

Verizon Communications Inc. (NYSE:VZGet Free Report)’s stock price rose 0.4% on Tuesday . The stock traded as high as $41.33 and last traded at $41.14. Approximately 2,259,723 shares changed hands during trading, a decline of 88% from the average daily volume of 19,124,619 shares. The stock had previously closed at $40.98.

Analyst Upgrades and Downgrades

VZ has been the topic of a number of research analyst reports. Redburn Atlantic upgraded shares of Verizon Communications from a “sell” rating to a “neutral” rating and upped their price target for the stock from $33.00 to $39.00 in a report on Friday, March 22nd. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Tigress Financial lifted their price target on shares of Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Royal Bank of Canada increased their price objective on 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, Wells Fargo & Company reduced their price objective on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $44.77.

Get Our Latest Analysis on VZ

Verizon Communications Stock Performance

The firm’s 50 day moving average is $40.30 and its 200 day moving average is $39.72. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.71. The stock has a market cap of $174.09 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 3.01 and a beta of 0.42.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, beating the consensus estimate of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The firm had revenue of $33 billion during the quarter, compared to analyst estimates of $33.23 billion. During the same quarter in the prior year, the business posted $1.20 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Analysts anticipate that Verizon Communications Inc. will post 4.6 EPS for the current year.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date of this dividend is Wednesday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 99.25%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Verizon Communications during the 4th quarter worth about $1,882,164,000. Capital World Investors boosted its position in Verizon Communications by 127.6% in the fourth quarter. Capital World Investors now owns 21,801,067 shares of the cell phone carrier’s stock valued at $821,900,000 after buying an additional 12,220,777 shares during the last quarter. Capital Research Global Investors increased its holdings in Verizon Communications by 92.9% in the 4th quarter. Capital Research Global Investors now owns 22,599,173 shares of the cell phone carrier’s stock worth $851,989,000 after buying an additional 10,882,873 shares during the period. Swedbank AB acquired a new stake in Verizon Communications during the 1st quarter valued at approximately $250,312,000. Finally, Third Point LLC purchased a new stake in shares of Verizon Communications in the 4th quarter valued at $173,325,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

About Verizon Communications

(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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