Verizon Communications (NYSE:VZ) Shares Up 1.3%

Verizon Communications Inc. (NYSE:VZ - Get Free Report) shares traded up 1.3% on Monday . The company traded as high as $41.89 and last traded at $41.78. 20,009,799 shares changed hands during mid-day trading, an increase of 9% from the average session volume of 18,351,652 shares. The stock had previously closed at $41.25.

Analysts Set New Price Targets

VZ has been the subject of several research analyst reports. Scotiabank increased their price objective on Verizon Communications from $45.50 to $46.50 and gave the stock a "sector perform" rating in a research report on Wednesday, July 10th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $42.00 price target on shares of Verizon Communications in a report on Tuesday, July 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Verizon Communications from $46.00 to $45.00 and set a "neutral" rating on the stock in a report on Tuesday, July 23rd. The Goldman Sachs Group began coverage on shares of Verizon Communications in a report on Monday, July 1st. They issued a "buy" rating and a $50.00 target price for the company. Finally, Tigress Financial lifted their price objective on Verizon Communications from $50.00 to $52.00 and gave the stock a "buy" rating in a report on Friday, May 17th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Verizon Communications has a consensus rating of "Moderate Buy" and a consensus target price of $45.78.

Verizon Communications Price Performance

The company's 50-day moving average is $40.87 and its 200-day moving average is $40.49. The firm has a market capitalization of $175.86 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 3.81 and a beta of 0.41. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, hitting analysts' consensus estimates of $1.15. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The business had revenue of $32.80 billion during the quarter, compared to the consensus estimate of $33.05 billion. During the same period in the prior year, the firm posted $1.21 EPS. The business's revenue for the quarter was up .6% on a year-over-year basis. On average, research analysts expect that Verizon Communications Inc. will post 4.57 earnings per share for the current year.

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.66 annualized dividend and a dividend yield of 6.37%. Verizon Communications's payout ratio is 99.25%.

Institutional Investors Weigh In On Verizon Communications

Several institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC grew its stake in shares of Verizon Communications by 3.0% during the fourth quarter. International Assets Investment Management LLC now owns 105,433 shares of the cell phone carrier's stock valued at $3,975,000 after acquiring an additional 3,054 shares in the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in Verizon Communications during the 4th quarter worth approximately $749,000. Gilbert & Cook Inc. raised its position in shares of Verizon Communications by 2.2% in the 4th quarter. Gilbert & Cook Inc. now owns 24,158 shares of the cell phone carrier's stock valued at $911,000 after purchasing an additional 509 shares in the last quarter. 9258 Wealth Management LLC boosted its stake in shares of Verizon Communications by 3.5% during the 4th quarter. 9258 Wealth Management LLC now owns 9,525 shares of the cell phone carrier's stock valued at $359,000 after buying an additional 321 shares during the last quarter. Finally, Sapient Capital LLC acquired a new stake in shares of Verizon Communications during the fourth quarter worth approximately $923,000. Hedge funds and other 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).