Verizon Communications (NYSE:VZ) Trading Up 0.1%

Verizon Communications Inc. (NYSE:VZ) shares shot up 0.1% during mid-day trading on Tuesday . The stock traded as high as $40.93 and last traded at $40.90. 4,577,207 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 20,124,180 shares. The stock had previously closed at $40.87.

Analysts Set New Price Targets

Several research firms have commented on VZ. Daiwa Capital Markets raised shares of Verizon Communications from a “neutral” rating to an “outperform” rating and increased their price target for the company from $36.00 to $47.00 in a research report on Wednesday, January 24th. Redburn Atlantic raised 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 report on Friday, March 22nd. Barclays increased their price objective on Verizon Communications from $42.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. Oppenheimer restated an “outperform” rating and set a $43.00 target price on shares of Verizon Communications in a research note on Tuesday, December 19th. Finally, Tigress Financial increased their price target on Verizon Communications from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.86.

Verizon Communications Price Performance

The company has a current ratio of 0.69, a quick ratio of 0.65 and a debt-to-equity ratio of 1.47. The firm’s fifty day moving average price is $40.52 and its 200 day moving average price is $37.31. The firm has a market capitalization of $174.65 billion, a PE ratio of 15.05, a P/E/G ratio of 3.31 and a beta of 0.40.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.08. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. The business had revenue of $35.10 billion during the quarter, compared to analyst estimates of $34.60 billion. During the same quarter last year, the business posted $1.19 EPS. The company’s revenue was down .6% on a year-over-year basis. As a group, equities analysts forecast that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Announces Dividend

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 $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.66 annualized dividend and a yield of 6.40%. Verizon Communications’s dividend payout ratio is presently 96.38%.

Insider Activity

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 value of $979,200.00. Following the completion of the transaction, the chief executive officer now owns 35,201 shares in the company, valued at $1,436,200.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.02% of the company’s stock.

Institutional Trading of Verizon Communications

Institutional investors have recently bought and sold shares of the business. HighPoint Advisor Group LLC acquired a new position in Verizon Communications during the fourth quarter worth $6,136,000. Livelsberger Financial Advisory acquired a new position in shares of Verizon Communications during the 4th quarter worth about $52,000. Grayhawk Investment Strategies Inc. purchased a new position in Verizon Communications in the 4th quarter valued at about $658,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Verizon Communications in the 4th quarter worth about $5,131,000. Finally, Accent Capital Management LLC purchased a new stake in Verizon Communications during the 4th quarter worth approximately $151,000. 62.06% of the stock is owned by institutional investors and hedge funds.

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).