Verizon Communications (NYSE:VZ) Trading Down 0.3%

Verizon Communications Inc. (NYSE:VZ)’s share price fell 0.3% on Wednesday . The stock traded as low as $39.10 and last traded at $39.20. 2,257,257 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 19,647,713 shares. The stock had previously closed at $39.31.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on VZ shares. Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and raised their price target for the stock from $33.00 to $39.00 in a research report on Friday, March 22nd. KeyCorp increased their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Daiwa Capital Markets upgraded shares of Verizon Communications from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $36.00 to $47.00 in a report on Wednesday, January 24th. Raymond James increased their target price on shares of Verizon Communications from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Finally, UBS Group boosted their price target on shares of Verizon Communications from $37.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.21.

Verizon Communications Price Performance

The stock has a market capitalization of $166.18 billion, a PE ratio of 14.63, a P/E/G ratio of 2.82 and a beta of 0.42. 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’s 50-day moving average is $40.30 and its 200 day moving average is $39.01.

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

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.74%. The ex-dividend date of this dividend was Tuesday, April 9th. Verizon Communications’s dividend payout ratio is currently 99.25%.

Insider Activity at Verizon Communications

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in VZ. WealthTrust Axiom LLC boosted its stake in shares of Verizon Communications by 2.1% in the fourth quarter. WealthTrust Axiom LLC now owns 118,806 shares of the cell phone carrier’s stock valued at $4,479,000 after buying an additional 2,422 shares in the last quarter. Portland Investment Counsel Inc. grew its stake in shares of Verizon Communications by 173.7% during the 3rd quarter. Portland Investment Counsel Inc. now owns 652,169 shares of the cell phone carrier’s stock worth $21,137,000 after purchasing an additional 413,869 shares during the period. Dynamic Advisor Solutions LLC increased its holdings in shares of Verizon Communications by 1.3% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 127,632 shares of the cell phone carrier’s stock valued at $5,131,000 after purchasing an additional 1,616 shares in the last quarter. 180 Wealth Advisors LLC lifted its stake in shares of Verizon Communications by 6.2% in the third quarter. 180 Wealth Advisors LLC now owns 51,757 shares of the cell phone carrier’s stock valued at $1,677,000 after purchasing an additional 3,020 shares during the period. Finally, GFS Advisors LLC purchased a new stake in Verizon Communications during the fourth quarter worth about $212,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

About Verizon Communications

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).