Verizon Communications (NYSE:VZ) Stock Price Down 0.1% - Here's Why

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s stock price fell 0.1% during trading on Monday . The stock traded as low as $40.94 and last traded at $41.00. 12,430,351 shares changed hands during trading, a decline of 49% from the average session volume of 24,606,066 shares. The stock had previously closed at $41.04.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on VZ shares. Sanford C. Bernstein initiated coverage on Verizon Communications in a research report on Tuesday, December 10th. They set a "market perform" rating and a $48.00 price target for the company. Tigress Financial restated a "buy" rating and issued a $55.00 price target on shares of Verizon Communications in a research note on Thursday, January 30th. Scotiabank raised their target price on shares of Verizon Communications from $47.00 to $47.50 and gave the company a "sector perform" rating in a report on Monday, January 27th. DZ Bank upgraded shares of Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a research note on Wednesday, January 29th. Finally, Wolfe Research raised 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. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Verizon Communications presently has an average rating of "Moderate Buy" and an average target price of $46.08.

Verizon Communications Stock Up 0.7 %

The stock's 50-day moving average price is $39.90 and its 200-day moving average price is $41.59. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The company has a market cap of $180.05 billion, a P/E ratio of 10.33, a PEG ratio of 4.40 and a beta of 0.45.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share 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 in the prior year, the business earned $1.08 earnings per share. As a group, research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a dividend of $0.6775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.34%. Verizon Communications's dividend payout ratio is currently 65.46%.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 11,085 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total transaction of $453,154.80. Following the completion of the transaction, the chief executive officer now owns 14,590 shares in the company, valued at $596,439.20. This trade represents a 43.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 39,085 shares of company stock worth $1,582,995 in the last quarter. 0.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Verizon Communications

A number of large investors have recently made changes to their positions in the stock. Mainstream Capital Management LLC bought a new position in Verizon Communications in the 4th quarter worth about $28,000. Capital Performance Advisors LLP purchased a new stake in shares of Verizon Communications during the third quarter worth about $31,000. Legend Financial Advisors Inc. boosted its stake in shares of Verizon Communications by 69.6% during the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier's stock valued at $31,000 after purchasing an additional 320 shares in the last quarter. Graney & King LLC bought a new stake in shares of Verizon Communications during the 4th quarter valued at $32,000. Finally, Compass Financial Services Inc purchased a new stake in shares of Verizon Communications in the 4th quarter worth approximately $33,000. 62.06% of the stock is 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).