Verizon Communications (NYSE:VZ) Stock Price Up 0%

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s share price shot up 0% on Thursday . The company traded as high as $41.39 and last traded at $41.12. 6,653,911 shares changed hands during trading, a decline of 59% from the average session volume of 16,298,411 shares. The stock had previously closed at $41.10.

Analyst Upgrades and Downgrades

VZ has been the subject of a number of recent research reports. Royal Bank of Canada upped their price objective on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 2nd. Wells Fargo & Company decreased their price target on 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. Tigress Financial raised their price objective on Verizon Communications from $50.00 to $52.00 and gave the company a "buy" rating in a research note on Friday, May 17th. StockNews.com upgraded Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, May 4th. Finally, Redburn Atlantic upgraded Verizon Communications from a "sell" rating to a "neutral" rating and increased their price target for the company from $33.00 to $39.00 in a report on Friday, March 22nd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $45.14.

Verizon Communications Trading Up 0.0 %

The firm has a market cap of $173.08 billion, a P/E ratio of 15.34, a PEG ratio of 3.73 and a beta of 0.41. The company's 50 day moving average is $40.20 and its two-hundred day moving average is $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.71 and a quick ratio of 0.67.

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

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 6.47%. The ex-dividend date of this dividend is Wednesday, July 10th. Verizon Communications's dividend payout ratio (DPR) is presently 99.25%.

Hedge Funds Weigh In On Verizon Communications

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pacifica Partners Inc. raised its stake in shares of Verizon Communications by 4.6% in the fourth quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier's stock worth $223,000 after buying an additional 255 shares during the period. Private Portfolio Partners LLC increased its holdings in Verizon Communications by 0.9% in the 4th quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier's stock worth $1,035,000 after acquiring an additional 255 shares in the last quarter. Selective Wealth Management Inc. raised its stake in Verizon Communications by 2.8% during the 4th quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier's stock worth $374,000 after acquiring an additional 257 shares during the period. BKM Wealth Management LLC lifted its holdings in Verizon Communications by 7.4% during the first quarter. BKM Wealth Management LLC now owns 3,715 shares of the cell phone carrier's stock valued at $156,000 after purchasing an additional 257 shares in the last quarter. Finally, Horizon Bancorp Inc. IN boosted its position in shares of Verizon Communications by 24.9% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier's stock worth $49,000 after purchasing an additional 258 shares during the period. 62.06% of the stock is owned by institutional investors.

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).