Verizon Communications (NYSE:VZ) Lowered to "Peer Perform" Rating by Wolfe Research

Verizon Communications (NYSE:VZ - Get Free Report) was downgraded by equities research analysts at Wolfe Research from an "outperform" rating to a "peer perform" rating in a research note issued to investors on Wednesday,Briefing.com Automated Import reports.

A number of other equities research analysts have also recently commented on the company. Royal Bank of Canada decreased their price objective on Verizon Communications from $46.00 to $42.00 in a research note on Friday, January 24th. UBS Group upped their price target on Verizon Communications from $44.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, December 20th. Tigress Financial reiterated a "buy" rating and issued a $55.00 price target on shares of Verizon Communications in a research report on Thursday, January 30th. StockNews.com upgraded shares of Verizon Communications from a "buy" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Verizon Communications from $40.00 to $42.00 and gave the company a "hold" rating in a report on Friday, January 24th. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, Verizon Communications currently has an average rating of "Moderate Buy" and a consensus target price of $46.11.

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Verizon Communications Stock Performance

Verizon Communications stock opened at $43.51 on Wednesday. The company has a market cap of $183.16 billion, a PE ratio of 10.51, a PEG ratio of 4.45 and a beta of 0.41. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. Verizon Communications has a 1 year low of $37.59 and a 1 year high of $47.36. The company's 50-day moving average is $40.82 and its two-hundred day moving average is $41.89.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same quarter last year, the business earned $1.08 earnings per share. Equities analysts anticipate that Verizon Communications will post 4.69 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Kyle Malady sold 8,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $39.88, for a total transaction of $319,040.00. Following the completion of the transaction, the chief executive officer now directly owns 6,590 shares of the company's stock, valued at approximately $262,809.20. This represents a 54.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the completion of the transaction, the executive vice president now owns 14,459 shares of the company's stock, valued at approximately $633,159.61. This represents a 40.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,085 shares of company stock worth $2,020,895. 0.02% of the stock is owned by insiders.

Institutional Trading of Verizon Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC raised its holdings in shares of Verizon Communications by 27.7% in the 4th quarter. Foundations Investment Advisors LLC now owns 222,366 shares of the cell phone carrier's stock valued at $8,892,000 after purchasing an additional 48,294 shares during the period. Roffman Miller Associates Inc. PA lifted its position in shares of Verizon Communications by 1.8% in the fourth quarter. Roffman Miller Associates Inc. PA now owns 382,678 shares of the cell phone carrier's stock valued at $15,303,000 after buying an additional 6,795 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Verizon Communications during the 3rd quarter worth approximately $3,376,000. Burney Co. increased its holdings in shares of Verizon Communications by 30.4% during the 4th quarter. Burney Co. now owns 186,621 shares of the cell phone carrier's stock worth $7,463,000 after acquiring an additional 43,472 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its stake in Verizon Communications by 1,934.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,080,015 shares of the cell phone carrier's stock valued at $48,503,000 after acquiring an additional 1,026,930 shares during the period. 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).

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