Verizon Communications (NYSE:VZ) Shares Up 1.7%

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s stock price was up 1.7% during trading on Friday . The company traded as high as $41.54 and last traded at $41.51. Approximately 3,597,355 shares traded hands during trading, a decline of 81% from the average daily volume of 18,741,143 shares. The stock had previously closed at $40.82.

Analyst Ratings Changes

VZ has been the subject of a number of recent analyst reports. Tigress Financial increased their price target on Verizon Communications from $50.00 to $52.00 and gave the company a "buy" rating in a research report on Friday, May 17th. Redburn Atlantic raised shares of Verizon Communications from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $33.00 to $39.00 in a research note on Friday, March 22nd. Royal Bank of Canada boosted their target price on shares of Verizon Communications from $36.00 to $40.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 2nd. Oppenheimer reaffirmed an "outperform" rating and issued a $48.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. Finally, Wells Fargo & Company dropped their price target on Verizon Communications from $44.00 to $40.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 23rd. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.77.

Verizon Communications Stock Performance

The firm has a market cap of $173.67 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 3.73 and a beta of 0.42. The firm's 50 day moving average is $40.07 and its 200-day moving average is $40.02. 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 released its quarterly 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 during the quarter, compared to the consensus estimate of $33.23 billion. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The firm's revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 EPS. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.59 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a $0.665 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.66 annualized dividend and a yield of 6.45%. Verizon Communications's payout ratio is 99.25%.

Hedge Funds Weigh In On Verizon Communications

Several hedge funds have recently added to or reduced their stakes in the company. Bright Futures Wealth Management LLC. acquired a new stake in Verizon Communications during the 1st quarter worth approximately $218,000. Abich Financial Wealth Management LLC increased its holdings in shares of Verizon Communications by 47.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 3,922 shares of the cell phone carrier's stock worth $165,000 after acquiring an additional 1,268 shares during the last quarter. Cape Investment Advisory Inc. boosted its holdings in shares of Verizon Communications by 20.0% during the 1st quarter. Cape Investment Advisory Inc. now owns 18,876 shares of the cell phone carrier's stock worth $792,000 after buying an additional 3,151 shares during the period. Keynote Financial Services LLC acquired a new stake in shares of Verizon Communications during the first quarter worth $1,163,000. Finally, American Trust bought a new stake in shares of Verizon Communications in the first quarter valued at approximately $213,000. Institutional investors own 62.06% of the company's stock.

Verizon Communications Company Profile

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).