Verizon Communications (NYSE:VZ) Shares Down 0.5%

Verizon Communications Inc. (NYSE:VZ)’s share price was down 0.5% during trading on Thursday . The stock traded as low as $40.14 and last traded at $40.28. Approximately 3,462,916 shares were traded during trading, a decline of 82% from the average daily volume of 19,410,174 shares. The stock had previously closed at $40.49.

Wall Street Analysts Forecast Growth

VZ has been the topic of several recent research reports. Royal Bank of Canada increased their price target on Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 2nd. Barclays upped their price objective on shares of Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Redburn Atlantic upgraded shares of Verizon Communications from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $33.00 to $39.00 in a report on Friday, March 22nd. KeyCorp upped their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Finally, Raymond James lifted their price target on Verizon Communications from $42.00 to $46.00 and gave the company an “outperform” 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.36.

Verizon Communications Price Performance

The company has a market capitalization of $168.62 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 2.92 and a beta of 0.42. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.42. The firm’s 50-day moving average is $40.34 and its 200-day moving average is $39.30.

Verizon Communications (NYSE:VZ) last released its earnings results 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. The company had revenue of $33 billion for the quarter, compared to analyst estimates of $33.23 billion. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.20 EPS. Equities analysts predict that Verizon Communications Inc. 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. Investors of record on Wednesday, April 10th were issued a dividend of $0.665 per share. The ex-dividend date was Tuesday, April 9th. This represents a $2.66 dividend on an annualized basis and a yield of 6.64%. Verizon Communications’s dividend payout ratio is presently 99.25%.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 24,000 shares of Verizon Communications stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total transaction of $979,200.00. Following the sale, the chief executive officer now directly owns 35,201 shares in the company, valued at $1,436,200.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Verizon Communications

Institutional investors have recently made changes to their positions in the company. LFA Lugano Financial Advisors SA boosted its stake in shares of Verizon Communications by 627.8% in the 4th 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 bought a new stake in shares of Verizon Communications during the 4th quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at about $29,000. Morton Brown Family Wealth LLC lifted its stake in shares of Verizon Communications by 130.1% in the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after purchasing an additional 488 shares during the period. Finally, HBC Financial Services PLLC grew its position in Verizon Communications by 320.0% during the third quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier’s stock valued at $34,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

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).