Verizon Communications Inc. (NYSE:VZ - Get Free Report) rose 0.7% during trading on Friday . The stock traded as high as $39.94 and last traded at $39.74. Approximately 5,346,967 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 24,532,104 shares. The stock had previously closed at $39.47.
Analyst Ratings Changes
VZ has been the topic of several recent research reports. TD Cowen raised shares of Verizon Communications to a "strong-buy" rating in a research note on Wednesday, January 15th. UBS Group boosted their price target on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, December 20th. Wolfe Research increased their price objective 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. StockNews.com cut Verizon Communications from a "strong-buy" rating to a "buy" rating in a report on Monday, December 16th. Finally, Scotiabank increased their price target on Verizon Communications from $47.00 to $47.50 and gave the company a "sector perform" rating in a report on Monday. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Verizon Communications presently has an average rating of "Moderate Buy" and a consensus price target of $46.08.
View Our Latest Stock Report on VZ
Verizon Communications Trading Down 0.2 %
The business's 50-day simple moving average is $40.69 and its two-hundred day simple moving average is $41.58. The firm has a market capitalization of $165.88 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 4.21 and a beta of 0.46. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21.
Verizon Communications (NYSE:VZ - Get Free Report) last posted its earnings results 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 company posted $1.08 earnings per share. Equities analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.
Verizon Communications Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a yield of 6.88%. The ex-dividend date of this dividend is Friday, January 10th. Verizon Communications's payout ratio is 65.46%.
Insider Activity at Verizon Communications
In other Verizon Communications news, CEO Kyle Malady sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $40.54, for a total value of $810,800.00. Following the completion of the transaction, the chief executive officer now owns 45,675 shares of the company's stock, valued at $1,851,664.50. This trade represents a 30.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.02% of the stock is currently owned by company insiders.
Institutional Trading of Verizon Communications
Several hedge funds have recently modified their holdings of VZ. Plan Group Financial LLC grew its stake in Verizon Communications by 14.7% during the 4th quarter. Plan Group Financial LLC now owns 26,992 shares of the cell phone carrier's stock worth $1,079,000 after purchasing an additional 3,454 shares in the last quarter. Atlas Legacy Advisors LLC purchased a new position in shares of Verizon Communications in the 4th quarter valued at about $206,000. Bank of Jackson Hole Trust acquired a new position in shares of Verizon Communications during the fourth quarter worth about $306,000. Mcdonald Partners LLC increased its stake in shares of Verizon Communications by 4.6% during the fourth quarter. Mcdonald Partners LLC now owns 79,806 shares of the cell phone carrier's stock worth $3,191,000 after buying an additional 3,526 shares during the period. Finally, Key Financial Inc lifted its stake in Verizon Communications by 12.1% in the fourth quarter. Key Financial Inc now owns 31,961 shares of the cell phone carrier's stock worth $1,278,000 after acquiring an additional 3,451 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.
About Verizon Communications
(
Get Free Report)
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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