Verizon Communications (NYSE:VZ) Trading 0.6% Higher

Shares of Verizon Communications Inc. (NYSE:VZ - Get Free Report) traded up 0.6% during trading on Monday . The company traded as high as $45.36 and last traded at $45.16. 2,243,616 shares traded hands during trading, a decline of 88% from the average session volume of 18,801,521 shares. The stock had previously closed at $44.89.

Analyst Upgrades and Downgrades

VZ has been the topic of several analyst reports. Raymond James lifted their target price on shares of Verizon Communications from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 24th. Citigroup increased their price objective on Verizon Communications from $47.00 to $49.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. dropped their target price on 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 research report on Monday, July 1st. They issued a "buy" rating and a $50.00 price target for the company. Finally, KeyCorp lowered their price objective on shares of Verizon Communications from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Friday, September 6th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $46.09.

Verizon Communications Trading Up 0.0 %

The company has a fifty day simple moving average of $41.88 and a two-hundred day simple moving average of $40.99. The company has a market capitalization of $189.04 billion, a P/E ratio of 16.76, a price-to-earnings-growth ratio of 4.03 and a beta of 0.42. 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 issued its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, meeting analysts' consensus estimates of $1.15. The business had revenue of $32.80 billion for the quarter, compared to the consensus estimate of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm's revenue was up .6% compared to the same quarter last year. During the same period last year, the business earned $1.21 EPS. On average, analysts forecast that Verizon Communications Inc. will post 4.58 earnings per share 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 paid a $0.678 dividend. The ex-dividend date is Thursday, October 10th. This is a positive change from Verizon Communications's previous quarterly dividend of $0.67. This represents a $2.71 dividend on an annualized basis and a yield of 6.04%. Verizon Communications's dividend payout ratio (DPR) is presently 101.12%.

Institutional Investors Weigh In On Verizon Communications

Hedge funds and other institutional investors have recently made changes to their positions in the business. Koesten Hirschmann & Crabtree INC. acquired a new position in Verizon Communications during the 1st quarter valued at $25,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Verizon Communications during the fourth quarter worth about $29,000. Mizuho Securities Co. Ltd. bought a new position in Verizon Communications during the second quarter valued at about $32,000. MFA Wealth Advisors LLC bought a new position in Verizon Communications during the second quarter valued at about $33,000. Finally, Pittenger & Anderson Inc. raised its holdings in Verizon Communications by 50.4% in the 1st quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier's stock valued at $37,000 after acquiring an additional 296 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

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).