Verizon Communications (NYSE:VZ) Trading Up 1.8% – What’s Next?

Shares of Verizon Communications Inc. (NYSE:VZ) were up 1.8% on Monday . The stock traded as high as $43.51 and last traded at $43.55. Approximately 5,035,651 shares changed hands during trading, a decline of 78% from the average daily volume of 22,552,258 shares. The stock had previously closed at $42.76.

Analyst Ratings Changes

VZ has been the topic of several research reports. Tigress Financial reiterated a “buy” rating and issued a $55.00 price target on shares of Verizon Communications in a research report on Thursday, January 30th. Wolfe Research increased their target price on shares of Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Sanford C. Bernstein initiated coverage on shares of Verizon Communications in a research report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price target on the stock. Scotiabank increased their price objective on Verizon Communications from $47.00 to $47.50 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Finally, TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.08.

Verizon Communications Trading Up 1.3 %

The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The company has a 50-day moving average price of $39.91 and a 200-day moving average price of $41.63. The company has a market capitalization of $182.30 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 4.45 and a beta of 0.45.

Verizon Communications (NYSE:VZ) last released its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same period last year, the business posted $1.08 earnings per share. Research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a yield of 6.26%. The ex-dividend date was Friday, January 10th. Verizon Communications’s payout ratio is currently 65.46%.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 11,085 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total value of $453,154.80. Following the completion of the transaction, the chief executive officer now owns 14,590 shares of the company’s stock, valued at $596,439.20. This represents a 43.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 39,085 shares of company stock valued at $1,582,995 in the last ninety days. Company insiders own 0.02% of the company’s stock.

Institutional Trading of Verizon Communications

Several institutional investors have recently modified their holdings of VZ. Mainstream Capital Management LLC acquired a new stake in Verizon Communications during the fourth quarter valued at approximately $28,000. Capital Performance Advisors LLP bought a new position in shares of Verizon Communications during the 3rd quarter worth approximately $31,000. Legend Financial Advisors Inc. grew its position in Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after acquiring an additional 320 shares during the period. Graney & King LLC bought a new position in shares of Verizon Communications during the fourth quarter valued at $32,000. Finally, Compass Financial Services Inc acquired a new stake in shares of Verizon Communications in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

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).