Verizon Communications (NYSE:VZ) Stock Price Up 3.1% - Time to Buy?

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s share price was up 3.1% during mid-day trading on Friday . The stock traded as high as $45.92 and last traded at $45.59. Approximately 12,525,163 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 17,727,100 shares. The stock had previously closed at $44.23.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on VZ shares. UBS Group upped their price objective 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 reissued a "buy" rating and set a $55.00 target price on shares of Verizon Communications in a research report on Thursday, January 30th. Royal Bank of Canada decreased their target price on shares of Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. Scotiabank increased their target price on shares of Verizon Communications from $47.50 to $48.00 and gave the company a "sector perform" rating in a research report on Monday, March 3rd. Finally, StockNews.com raised shares of Verizon Communications from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $46.11.

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Verizon Communications Trading Up 4.3 %

The business has a fifty day moving average of $40.61 and a 200-day moving average of $41.83. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. The company has a market capitalization of $194.20 billion, a P/E ratio of 11.14, a PEG ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (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 period in the prior year, the firm earned $1.08 earnings per share. Analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date is Thursday, April 10th. Verizon Communications's payout ratio is currently 65.46%.

Insider Activity at Verizon Communications

In other news, CEO Kyle Malady sold 11,085 shares of the firm'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 directly owns 14,590 shares of the company's stock, valued at $596,439.20. This trade represents a 43.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Vandana Venkatesh sold 10,000 shares of the firm's 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 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. In the last three months, insiders sold 49,085 shares of company stock valued at $2,020,895. 0.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Verizon Communications

Several large investors have recently made changes to their positions in the business. Mainstream Capital Management LLC purchased a new stake in Verizon Communications in the 4th quarter worth about $28,000. Capital Performance Advisors LLP purchased a new stake in Verizon Communications in the 3rd quarter worth about $31,000. Legend Financial Advisors Inc. increased its holdings 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 acquiring an additional 320 shares during the last quarter. Graney & King LLC purchased a new stake in Verizon Communications in the 4th quarter worth about $32,000. Finally, Capital A Wealth Management LLC purchased a new stake in Verizon Communications in the 4th quarter worth about $32,000. 62.06% of the stock is owned by hedge funds and other 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).