Verizon Communications (NYSE:VZ) Shares Up 0.5%

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s share price traded up 0.5% during trading on Friday . The stock traded as high as $44.28 and last traded at $44.18. 5,083,771 shares traded hands during trading, a decline of 73% from the average session volume of 18,671,365 shares. The stock had previously closed at $43.94.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Verizon Communications in a research note on Monday, July 1st. They set a "buy" rating and a $50.00 price target on the stock. Scotiabank lifted their target price on Verizon Communications from $45.50 to $46.50 and gave the company a "sector perform" rating in a research note on Wednesday, July 10th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $42.00 target price on shares of Verizon Communications in a research note on Monday, September 9th. JPMorgan Chase & Co. cut their target price on Verizon Communications from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 23rd. Finally, TD Cowen lifted their target price on Verizon Communications from $48.00 to $51.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Verizon Communications presently has an average rating of "Moderate Buy" and an average price target of $45.66.

Verizon Communications Price Performance

The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60. The stock has a market cap of $186.60 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 3.99 and a beta of 0.42. The stock has a fifty day moving average of $41.46 and a 200 day moving average of $40.78.

Verizon Communications (NYSE:VZ - Get Free Report) last released its earnings results 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 firm had revenue of $32.80 billion during the quarter, compared to the consensus estimate of $33.05 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. The company's revenue was up .6% compared to the same quarter last year. On average, analysts expect that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.678 per share. This is an increase from Verizon Communications's previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.12%. Verizon Communications's payout ratio is 101.12%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of VZ. Koesten Hirschmann & Crabtree INC. acquired a new position in Verizon Communications in the first quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Verizon Communications in the second quarter valued at approximately $32,000. MFA Wealth Advisors LLC purchased a new stake in shares of Verizon Communications in the second quarter valued at approximately $33,000. Finally, Vima LLC purchased a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $36,000. 62.06% of the stock is owned by institutional investors and hedge funds.

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).