Verizon Communications (NYSE:VZ) Shares Up 0.1% - Here's Why

Verizon Communications Inc. (NYSE:VZ - Get Free Report) shares rose 0.1% on Tuesday . The stock traded as high as $41.07 and last traded at $41.02. Approximately 3,952,263 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 22,796,217 shares. The stock had previously closed at $40.99.

Wall Street Analysts Forecast Growth

VZ has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Verizon Communications from $40.00 to $42.00 and gave the company a "hold" rating in a report on Friday, January 24th. 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 report on Wednesday, January 29th. Tigress Financial reaffirmed a "buy" rating and issued a $55.00 price objective on shares of Verizon Communications in a research report on Thursday, January 30th. KeyCorp lowered shares of Verizon Communications from an "overweight" rating to a "sector weight" rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada lowered their price target on shares of Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.08.

Verizon Communications Price Performance

The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. The firm has a fifty day moving average of $39.90 and a two-hundred day moving average of $41.59. The stock has a market capitalization of $180.05 billion, a P/E ratio of 10.33, a P/E/G ratio of 4.40 and a beta of 0.45.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) 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 EPS. On average, analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Cuts Dividend

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

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 20,000 shares of the firm's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $40.54, for a total value of $810,800.00. Following the completion of the sale, the chief executive officer now directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 39,085 shares of company stock worth $1,582,995. Corporate insiders own 0.02% of the company's stock.

Institutional Trading of Verizon Communications

Several institutional investors have recently added to or reduced their stakes in VZ. Mainstream Capital Management LLC purchased a new stake in shares of Verizon Communications during the 4th quarter worth $28,000. Capital Performance Advisors LLP acquired a new stake in Verizon Communications during the 3rd quarter worth $31,000. Legend Financial Advisors Inc. raised its stake in Verizon Communications by 69.6% during 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 in the last quarter. Graney & King LLC acquired a new position in Verizon Communications in the fourth quarter valued at $32,000. Finally, Compass Financial Services Inc acquired a new position in Verizon Communications in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 62.06% of the company's stock.

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).