Verizon Communications (NYSE:VZ) Stock Price Down 1.2% – Should You Sell?

Verizon Communications Inc. (NYSE:VZGet Free Report) shares fell 1.2% during mid-day trading on Wednesday . The stock traded as low as $49.17 and last traded at $49.2630. 21,381,746 shares were traded during mid-day trading, a decline of 40% from the average session volume of 35,470,926 shares. The stock had previously closed at $49.86.

Verizon Communications News Summary

Here are the key news stories impacting Verizon Communications this week:

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on VZ shares. Scotiabank raised their price objective on Verizon Communications from $48.00 to $50.25 and gave the stock a “sector perform” rating in a research note on Monday, February 2nd. Weiss Ratings raised Verizon Communications from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Royal Bank Of Canada upped their price objective on shares of Verizon Communications from $44.00 to $48.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 3rd. Sanford C. Bernstein reissued a “market perform” rating and set a $48.00 target price on shares of Verizon Communications in a report on Monday, February 2nd. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Verizon Communications in a research note on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.02.

Check Out Our Latest Report on Verizon Communications

Verizon Communications Stock Performance

The stock has a market capitalization of $207.78 billion, a PE ratio of 12.16, a PEG ratio of 2.08 and a beta of 0.33. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32. The firm’s 50-day simple moving average is $42.79 and its two-hundred day simple moving average is $42.23.

Verizon Communications (NYSE:VZGet Free Report) last announced its quarterly earnings data on Friday, January 30th. The cell phone carrier reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $36.38 billion during the quarter, compared to analyst estimates of $36.20 billion. Verizon Communications had a return on equity of 19.03% and a net margin of 12.43%.The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company posted $1.10 EPS. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. On average, equities research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be paid a $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.7%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, April 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 68.15%.

Insider Buying and Selling at Verizon Communications

In other news, EVP Joseph J. Russo sold 9,579 shares of Verizon Communications stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $44.88, for a total transaction of $429,905.52. Following the completion of the sale, the executive vice president directly owned 44,045 shares in the company, valued at $1,976,739.60. The trade was a 17.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Verizon Communications

Several institutional investors and hedge funds have recently modified their holdings of VZ. Vanguard Group Inc. lifted its position in shares of Verizon Communications by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier’s stock worth $15,453,058,000 after buying an additional 5,497,598 shares during the last quarter. State Street Corp increased its holdings in shares of Verizon Communications by 3.5% during the 4th quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock valued at $9,080,810,000 after acquiring an additional 7,461,335 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Verizon Communications by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier’s stock valued at $4,747,930,000 after acquiring an additional 5,851,715 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Verizon Communications by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 102,632,509 shares of the cell phone carrier’s stock worth $4,168,080,000 after purchasing an additional 867,694 shares during the last quarter. Finally, Norges Bank acquired a new stake in Verizon Communications in the 4th quarter worth approximately $2,357,158,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

About Verizon Communications

(Get Free Report)

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.

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