Verizon Communications (NYSE:VZ) Shares Down 0.3% - Time to Sell?

Verizon Communications Inc. (NYSE:VZ - Get Free Report) shares fell 0.3% during mid-day trading on Tuesday . The stock traded as low as $37.83 and last traded at $38.01. 4,457,499 shares were traded during mid-day trading, a decline of 79% from the average session volume of 21,246,664 shares. The stock had previously closed at $38.12.

Analysts Set New Price Targets

Several brokerages have recently commented on VZ. Bank of America raised their price objective on shares of Verizon Communications from $41.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, September 26th. Tigress Financial raised their price target on shares of Verizon Communications from $52.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, October 1st. Royal Bank of Canada upped their price objective on shares of Verizon Communications from $42.00 to $46.00 and gave the company a "sector perform" rating in a report on Monday, September 23rd. Sanford C. Bernstein started coverage on Verizon Communications in a research note on Tuesday, December 10th. They issued a "market perform" rating and a $48.00 target price for the company. Finally, Raymond James increased their price target on Verizon Communications from $44.00 to $48.00 and gave the stock an "outperform" rating in a report on Tuesday, September 24th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $46.54.

Verizon Communications Trading Up 0.6 %

The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62. The firm's fifty day moving average is $41.17 and its two-hundred day moving average is $41.76. The firm has a market capitalization of $161.35 billion, a PE ratio of 16.52, a PEG ratio of 3.05 and a beta of 0.46.

Verizon Communications (NYSE:VZ - Get Free Report) last released its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.01. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The company had revenue of $33.30 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same period in the prior year, the company posted $1.22 earnings per share. Verizon Communications's quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts predict that Verizon Communications Inc. will post 4.61 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.07%. The ex-dividend date is Friday, January 10th. Verizon Communications's dividend payout ratio (DPR) is currently 116.81%.

Institutional Trading of Verizon Communications

Hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of Verizon Communications in the third quarter valued at $31,000. Legend Financial Advisors Inc. boosted its stake in Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier's stock worth $31,000 after purchasing an additional 320 shares during the period. Accordant Advisory Group Inc grew its holdings in Verizon Communications by 137.6% during the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier's stock valued at $35,000 after buying an additional 450 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Verizon Communications during the third quarter valued at about $44,000. Finally, McClarren Financial Advisors Inc. lifted its holdings in shares of Verizon Communications by 762.6% in the third quarter. McClarren Financial Advisors Inc. now owns 1,061 shares of the cell phone carrier's stock worth $48,000 after buying an additional 938 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors.

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).