Verizon Communications (NYSE:VZ) Shares Up 0.7%

Verizon Communications Inc. (NYSE:VZ - Get Free Report) traded up 0.7% during mid-day trading on Tuesday . The stock traded as high as $41.54 and last traded at $41.47. 2,930,160 shares were traded during mid-day trading, a decline of 84% from the average session volume of 18,755,754 shares. The stock had previously closed at $41.17.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Verizon Communications from $36.00 to $40.00 and gave the company a "sector perform" rating in a research report on Tuesday, April 2nd. Redburn Atlantic raised shares of Verizon Communications from a "sell" rating to a "neutral" rating and upped their target price for the stock from $33.00 to $39.00 in a report on Friday, March 22nd. Tigress Financial upped their target price on shares of Verizon Communications from $50.00 to $52.00 and gave the stock a "buy" rating in a report on Friday, May 17th. Wells Fargo & Company cut their price target on shares of Verizon Communications from $44.00 to $40.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 23rd. Finally, StockNews.com raised shares of Verizon Communications from a "hold" rating to a "buy" rating in a research note on Saturday, May 4th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $44.77.

Verizon Communications Stock Down 0.2 %

The company has a market cap of $172.92 billion, a PE ratio of 15.33, a PEG ratio of 2.92 and a beta of 0.42. The stock's 50 day moving average price is $40.02 and its 200-day moving average price is $39.98. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.71.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.03. The company had revenue of $33 billion during 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 revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. On average, analysts predict that Verizon Communications Inc. will post 4.59 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.66 annualized dividend and a yield of 6.48%. Verizon Communications's payout ratio is currently 99.25%.

Institutional Investors Weigh In On Verizon Communications

Institutional investors have recently added to or reduced their stakes in the company. Koesten Hirschmann & Crabtree INC. purchased a new stake in Verizon Communications during the 1st quarter valued at $25,000. LFA Lugano Financial Advisors SA raised its holdings in 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 purchasing an additional 565 shares in the last quarter. Criterion Capital Advisors LLC bought a new position in Verizon Communications in the 4th quarter worth $25,000. Vermillion & White Wealth Management Group LLC bought a new position in Verizon Communications in the 4th quarter worth $29,000. Finally, Morton Brown Family Wealth LLC raised its holdings in 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 in the last quarter. 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).