Verizon Communications (NYSE:VZ) Stock Price Up 0.8%

Verizon Communications Inc. (NYSE:VZ)’s stock price rose 0.8% during trading on Monday . The company traded as high as $39.30 and last traded at $39.21. Approximately 2,448,967 shares traded hands during trading, a decline of 88% from the average daily volume of 19,813,303 shares. The stock had previously closed at $38.89.

Analyst Ratings Changes

A number of equities research analysts have issued reports on VZ shares. Tigress Financial raised their price target on shares of Verizon Communications from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Barclays upped their target price on Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Oppenheimer restated an “outperform” rating and issued a $48.00 target price on shares of Verizon Communications in a research note on Tuesday, April 23rd. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Royal Bank of Canada increased their price target on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 2nd. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.21.

Verizon Communications Stock Performance

The business has a fifty day moving average price of $40.30 and a 200-day moving average price of $39.01. 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 stock has a market capitalization of $166.18 billion, a P/E ratio of 14.73, a P/E/G ratio of 2.82 and a beta of 0.42.

Verizon Communications (NYSE:VZ) last issued its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.03. The company had revenue of $33 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $1.20 earnings per share. On average, sell-side analysts expect that Verizon Communications Inc. will post 4.6 EPS for the current year.

Verizon Communications Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Kyle Malady sold 15,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were 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 owns 59,201 shares of the company’s stock, valued at approximately $2,387,576.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.03% of the company’s stock.

Hedge Funds Weigh In On Verizon Communications

Several institutional investors and hedge funds have recently bought and sold shares of the stock. LFA Lugano Financial Advisors SA lifted its stake in shares of Verizon Communications by 627.8% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock valued at $25,000 after buying an additional 565 shares in the last quarter. Criterion Capital Advisors LLC purchased a new position in shares of Verizon Communications in the fourth quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Verizon Communications in the fourth quarter valued at about $29,000. Morton Brown Family Wealth LLC boosted its stake in shares of Verizon Communications by 130.1% in the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after acquiring an additional 488 shares during the period. Finally, Pittenger & Anderson Inc. grew its position in shares of Verizon Communications by 50.4% during the first quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock worth $37,000 after purchasing an additional 296 shares in the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

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).