Verizon Communications (NYSE:VZ) Trading Down 0.8%

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s stock price traded down 0.8% on Thursday . The stock traded as low as $43.37 and last traded at $43.54. 3,814,716 shares traded hands during trading, a decline of 80% from the average session volume of 18,639,902 shares. The stock had previously closed at $43.88.

Wall Street Analyst Weigh In

VZ has been the topic of a number of research analyst reports. TD Cowen upped their price target on shares of Verizon Communications from $48.00 to $51.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. KeyCorp dropped their target price on shares of Verizon Communications from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Friday, September 6th. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a research note on Monday, July 1st. They set a "buy" rating and a $50.00 price target for the company. Scotiabank boosted their price target on Verizon Communications from $45.50 to $46.50 and gave the company a "sector perform" rating in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. reduced their price objective on Verizon Communications from $46.00 to $45.00 and set a "neutral" rating on the stock in a report on Tuesday, July 23rd. Seven 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 a consensus rating of "Moderate Buy" and a consensus target price of $45.66.

Verizon Communications Price Performance

The stock has a 50-day moving average price of $41.40 and a two-hundred day moving average price of $40.75. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. The stock has a market cap of $185.00 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 3.99 and a beta of 0.42.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, hitting the consensus estimate 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 quarter last year, the company earned $1.21 earnings per share. The company's quarterly revenue was up .6% on a year-over-year basis. As a group, equities research analysts forecast that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.678 dividend. 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 6.17%. This is a boost from Verizon Communications's previous quarterly dividend of $0.67. Verizon Communications's dividend payout ratio (DPR) is currently 101.12%.

Institutional Investors Weigh In On Verizon Communications

Large investors have recently made changes to their positions in the stock. Koesten Hirschmann & Crabtree INC. acquired a new position in Verizon Communications in the 1st quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Verizon Communications during the fourth quarter worth $29,000. Mizuho Securities Co. Ltd. acquired a new position in Verizon Communications during the second quarter valued at $32,000. MFA Wealth Advisors LLC acquired a new position in Verizon Communications during the second quarter valued at $33,000. Finally, Vima LLC purchased a new stake in Verizon Communications in the fourth quarter valued at $36,000. 62.06% of the stock is owned by hedge funds and other 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).