Verizon Communications (NYSE:VZ) Trading Down 0.6%

Shares of Verizon Communications Inc. (NYSE:VZ - Get Free Report) fell 0.6% during trading on Thursday . The company traded as low as $41.19 and last traded at $41.24. 3,054,075 shares were traded during mid-day trading, a decline of 83% from the average session volume of 18,254,188 shares. The stock had previously closed at $41.49.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VZ. StockNews.com upgraded Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, May 4th. Royal Bank of Canada reissued a "sector perform" rating and set a $42.00 price target on shares of Verizon Communications in a research report on Tuesday, July 23rd. Tigress Financial raised their price target on Verizon Communications from $50.00 to $52.00 and gave the company a "buy" rating in a report on Friday, May 17th. The Goldman Sachs Group initiated coverage on Verizon Communications in a research report on Monday, July 1st. They issued a "buy" rating and a $50.00 price objective on the stock. Finally, TD Cowen lifted their price target on shares of Verizon Communications from $48.00 to $51.00 and gave the stock a "buy" rating in a research note on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.78.

Verizon Communications Stock Performance

The firm's fifty day moving average is $40.81 and its 200-day moving average is $40.46. The stock has a market capitalization of $173.72 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 3.72 and a beta of 0.41. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. The company had revenue of $32.80 billion during the quarter, compared to analysts' expectations of $33.05 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The firm's revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.21 EPS. As a group, research analysts anticipate that Verizon Communications Inc. will post 4.58 earnings per share for the current year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 6.45%. The ex-dividend date of this dividend was Wednesday, July 10th. Verizon Communications's dividend payout ratio (DPR) is 99.25%.

Institutional Trading of Verizon Communications

Hedge funds have recently added to or reduced their stakes in the stock. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Verizon Communications in the first quarter valued at $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Verizon Communications in the 4th quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Verizon Communications during the second quarter worth about $32,000. MFA Wealth Advisors LLC purchased a new stake in Verizon Communications in the 2nd quarter valued at about $33,000. Finally, Vima LLC purchased a new stake in shares of Verizon Communications during the 4th quarter worth about $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).