Verizon Communications (NYSE:VZ) Shares Up 0.4% - Here's Why

Verizon Communications Inc. (NYSE:VZ - Get Free Report) shares traded up 0.4% during mid-day trading on Tuesday . The stock traded as high as $44.69 and last traded at $44.49. 5,653,136 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 20,095,973 shares. The stock had previously closed at $44.30.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on VZ shares. Wolfe Research downgraded shares of Verizon Communications from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, March 12th. Evercore ISI upgraded Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 target price on the stock in a research report on Friday, April 11th. DZ Bank upgraded Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a research note on Wednesday, January 29th. TD Cowen upgraded shares of Verizon Communications to a "strong-buy" rating in a research note on Wednesday, January 15th. Finally, Tigress Financial reissued a "buy" rating and issued a $55.00 price objective on shares of Verizon Communications in a report on Thursday, January 30th. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Verizon Communications currently has an average rating of "Moderate Buy" and a consensus target price of $46.92.

Verizon Communications Stock Performance

The firm has a market cap of $185.26 billion, a PE ratio of 10.63, a PEG ratio of 4.45 and a beta of 0.41. The firm's 50 day moving average price is $43.46 and its two-hundred day moving average price is $42.03. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63.

Verizon Communications (NYSE:VZ - Get Free Report) last posted 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 net margin of 12.99% and a return on equity of 19.80%. During the same quarter last year, the firm posted $1.08 earnings per share. On average, research analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.6775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.16%. Verizon Communications's dividend payout ratio (DPR) is currently 65.46%.

Insider Activity

In related news, CEO Kyle Malady sold 8,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $39.88, for a total transaction of $319,040.00. Following the completion of the sale, the chief executive officer now owns 6,590 shares in the company, valued at $262,809.20. This represents a 54.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vandana Venkatesh sold 10,000 shares of Verizon Communications stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total transaction of $437,900.00. Following the completion of the transaction, the executive vice president now owns 14,459 shares in the company, 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. In the last 90 days, insiders have sold 49,085 shares of company stock worth $2,020,895. 0.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Verizon Communications

Several hedge funds have recently made changes to their positions in VZ. Cornerstone Wealth Management LLC raised its stake in Verizon Communications by 16.4% during the 1st quarter. Cornerstone Wealth Management LLC now owns 34,857 shares of the cell phone carrier's stock valued at $1,581,000 after acquiring an additional 4,901 shares during the last quarter. Clarius Group LLC boosted its position in shares of Verizon Communications by 12.7% during the 1st quarter. Clarius Group LLC now owns 19,203 shares of the cell phone carrier's stock worth $871,000 after purchasing an additional 2,162 shares in the last quarter. Bell Bank lifted its holdings in shares of Verizon Communications by 4.9% in the first quarter. Bell Bank now owns 193,656 shares of the cell phone carrier's stock valued at $8,784,000 after purchasing an additional 8,973 shares in the last quarter. Demars Financial Group LLC increased its stake in shares of Verizon Communications by 18.9% during the 1st quarter. Demars Financial Group LLC now owns 738,673 shares of the cell phone carrier's stock worth $33,506,000 after purchasing an additional 117,201 shares in the last quarter. Finally, Kercheville Advisors LLC acquired a new position in shares of Verizon Communications in the first quarter worth $253,000. Institutional investors and hedge funds 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).