Verizon Communications (NYSE:VZ) Reaches New 1-Year High - Here's Why

Verizon Communications Inc. (NYSE:VZ - Get Free Report) reached a new 52-week high on Saturday . The stock traded as high as $46.20 and last traded at $46.13, with a volume of 44982282 shares trading hands. The stock had previously closed at $44.23.

Analysts Set New Price Targets

Several analysts have recently issued reports on VZ shares. TD Cowen raised Verizon Communications to a "strong-buy" rating in a report on Wednesday, January 15th. StockNews.com raised shares of Verizon Communications from a "buy" rating to a "strong-buy" rating in a research note on Wednesday. DZ Bank upgraded shares of Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a research report on Wednesday, January 29th. UBS Group boosted their target price on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, December 20th. Finally, Wolfe Research increased their price target on shares of Verizon Communications from $50.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $46.11.

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Verizon Communications Stock Up 4.3 %

The company's 50 day moving average is $40.61 and its 200 day moving average is $41.83. The company has a market cap of $194.20 billion, a PE ratio of 11.14, a P/E/G 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 (NYSE:VZ - Get Free Report) last issued its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same quarter in the previous year, the business earned $1.08 EPS. As a group, analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 5.87%. The ex-dividend date of this dividend is Thursday, April 10th. Verizon Communications's dividend payout ratio is 65.46%.

Insider Transactions at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 11,085 shares of the company's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total transaction of $453,154.80. Following the completion of the sale, the chief executive officer now owns 14,590 shares in the company, valued at $596,439.20. This represents a 43.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 14,459 shares in the company, valued at $633,159.61. This trade represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,085 shares of company stock valued at $2,020,895. 0.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Verizon Communications

A number of institutional investors have recently added to or reduced their stakes in VZ. Mainstream Capital Management LLC acquired a new stake in Verizon Communications in the fourth quarter valued at approximately $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Verizon Communications in the 3rd quarter worth $31,000. Legend Financial Advisors Inc. grew its stake in Verizon Communications by 69.6% during the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier's stock worth $31,000 after buying an additional 320 shares during the last quarter. Capital A Wealth Management LLC acquired a new position in Verizon Communications during the 4th quarter valued at about $32,000. Finally, Graney & King LLC purchased a new stake in Verizon Communications in the fourth quarter valued at about $32,000. Institutional investors own 62.06% of the company's stock.

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).