Verizon Communications (NYSE:VZ) Trading Down 0.3%

Shares of Verizon Communications Inc. (NYSE:VZ - Get Free Report) were down 0.3% during trading on Friday . The stock traded as low as $40.12 and last traded at $40.13. Approximately 5,375,127 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 18,661,574 shares. The stock had previously closed at $40.24.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Redburn Atlantic upgraded shares of Verizon Communications from a "sell" rating to a "neutral" rating and boosted their target price for the company from $33.00 to $39.00 in a research report on Friday, March 22nd. Oppenheimer restated an "outperform" rating and set a $48.00 price objective on shares of Verizon Communications in a research report on Tuesday, April 23rd. Royal Bank of Canada raised their target price on Verizon Communications from $36.00 to $40.00 and gave the company a "sector perform" rating in a report on Tuesday, April 2nd. Wells Fargo & Company lowered their price target on Verizon Communications from $44.00 to $40.00 and set an "equal weight" rating for the company in a report on Tuesday, April 23rd. Finally, 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. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $44.77.

Verizon Communications Price Performance

The stock's fifty day simple moving average is $39.97 and its two-hundred day simple moving average is $39.92. The stock has a market capitalization of $169.38 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 2.91 and a beta of 0.42. 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 posted its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.03. The business 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%. Verizon Communications's quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 earnings per share. As a group, research analysts expect that Verizon Communications Inc. will post 4.59 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date is Wednesday, July 10th. Verizon Communications's dividend payout ratio is currently 99.25%.

Institutional Investors Weigh In On Verizon Communications

Institutional investors have recently modified their holdings of the company. Koesten Hirschmann & Crabtree INC. acquired a new position in Verizon Communications in the first quarter valued at approximately $25,000. LFA Lugano Financial Advisors SA lifted its position in shares of Verizon Communications by 627.8% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier's stock valued at $25,000 after acquiring an additional 565 shares during the period. Criterion Capital Advisors LLC bought a new position in Verizon Communications during the fourth quarter worth $25,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Verizon Communications in the fourth quarter worth $29,000. Finally, Morton Brown Family Wealth LLC increased its stake in Verizon Communications by 130.1% in the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier's stock valued at $33,000 after purchasing an additional 488 shares in the last quarter. 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).