Verizon Communications (NYSE:VZ) Trading 0.1% Higher - Should You Buy?

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s stock price was up 0.1% during trading 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

Several equities analysts recently commented on VZ shares. Royal Bank of Canada dropped their target price on Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. Sanford C. Bernstein assumed coverage on Verizon Communications in a report on Tuesday, December 10th. They set a "market perform" rating and a $48.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on Verizon Communications from $40.00 to $42.00 and gave the stock a "hold" rating in a report on Friday, January 24th. Scotiabank raised their price objective on Verizon Communications from $47.00 to $47.50 and gave the stock a "sector perform" rating in a report on Monday, January 27th. Finally, Tigress Financial reiterated a "buy" rating and set a $55.00 target price on shares of Verizon Communications in a research note on Thursday, January 30th. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $46.08.

Verizon Communications Stock Performance

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 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 $180.05 billion, a price-to-earnings 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 issued 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 return on equity of 19.80% and a net margin of 12.99%. During the same quarter in the previous year, the firm earned $1.08 EPS. As a group, equities research analysts expect 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 was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a $0.6775 dividend. The ex-dividend date was Friday, January 10th. This represents a $2.71 annualized dividend and a yield of 6.34%. Verizon Communications's payout ratio is currently 65.46%.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 8,000 shares of Verizon Communications stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $39.88, for a total value of $319,040.00. Following the completion of the sale, the chief executive officer now directly owns 6,590 shares of the company's stock, valued at approximately $262,809.20. The trade was a 54.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 39,085 shares of company stock valued at $1,582,995. Company insiders own 0.02% of the company's stock.

Hedge Funds Weigh In On Verizon Communications

A number of hedge funds have recently made changes to their positions in the stock. AMF Tjanstepension AB lifted its holdings in shares of Verizon Communications by 58.0% during the 3rd quarter. AMF Tjanstepension AB now owns 1,756,452 shares of the cell phone carrier's stock valued at $78,975,000 after acquiring an additional 644,761 shares in the last quarter. Alpha Financial Partners LLC bought a new stake in shares of Verizon Communications in the 3rd quarter worth about $224,000. Swedbank AB increased its position in shares of Verizon Communications by 0.8% in the 3rd quarter. Swedbank AB now owns 5,174,541 shares of the cell phone carrier's stock worth $232,389,000 after purchasing an additional 39,403 shares during the last quarter. Eagle Bay Advisors LLC grew its position in shares of Verizon Communications by 26.0% during the 3rd quarter. Eagle Bay Advisors LLC now owns 8,368 shares of the cell phone carrier's stock valued at $376,000 after buying an additional 1,725 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its position in shares of Verizon Communications by 6.6% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 143,487 shares of the cell phone carrier's stock valued at $6,444,000 after buying an additional 8,932 shares during the last quarter. 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).