Verizon Communications (NYSE:VZ) Shares Up 0.3% Following Analyst Upgrade

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s stock price rose 0.3% on Tuesday after Argus upgraded the stock to a strong-buy rating. The stock traded as high as $40.81 and last traded at $40.77. Approximately 4,441,489 shares traded hands during trading, a decline of 82% from the average daily volume of 24,556,889 shares. The stock had previously closed at $40.64.

Several other brokerages have also recently commented on VZ. KeyCorp cut shares of Verizon Communications from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. Sanford C. Bernstein assumed coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They issued a "market perform" rating and a $48.00 price objective for the company. Tigress Financial boosted their target price on shares of Verizon Communications from $52.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. StockNews.com lowered Verizon Communications from a "strong-buy" rating to a "buy" rating in a report on Monday, December 16th. Finally, TD Cowen upgraded Verizon Communications to a "strong-buy" rating in a report on Wednesday, January 15th. Ten 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 data from MarketBeat.com, Verizon Communications has an average rating of "Moderate Buy" and an average target price of $46.08.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 11,085 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total value of $453,154.80. Following the completion of the sale, the chief executive officer now directly owns 14,590 shares in the company, valued at approximately $596,439.20. The trade was a 43.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.02% of the company's stock.

Hedge Funds Weigh In On Verizon Communications

A number of institutional investors have recently modified their holdings of the company. Fermata Advisors LLC lifted its holdings in shares of Verizon Communications by 4.5% during the third quarter. Fermata Advisors LLC now owns 5,626 shares of the cell phone carrier's stock worth $253,000 after buying an additional 243 shares during the last quarter. Austin Private Wealth LLC increased its position in Verizon Communications by 3.0% during the third quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier's stock worth $379,000 after acquiring an additional 243 shares during the period. Cary Street Partners Asset Management LLC raised its stake in Verizon Communications by 3.4% during the 3rd quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier's stock valued at $343,000 after purchasing an additional 249 shares during the last quarter. Wynn Capital LLC boosted its holdings in Verizon Communications by 4.4% in the 3rd quarter. Wynn Capital LLC now owns 5,945 shares of the cell phone carrier's stock valued at $267,000 after purchasing an additional 250 shares during the period. Finally, Western Financial Corp CA grew its position in Verizon Communications by 1.5% in the 3rd quarter. Western Financial Corp CA now owns 17,491 shares of the cell phone carrier's stock worth $786,000 after purchasing an additional 250 shares during the last quarter. Institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Performance

The firm's fifty day moving average price is $40.61 and its 200-day moving average price is $41.57. The company has a market cap of $165.88 billion, a P/E ratio of 9.52, a P/E/G ratio of 4.21 and a beta of 0.46. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21.

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

Verizon Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.6775 dividend. This represents a $2.71 annualized dividend and a yield of 6.88%. The ex-dividend date is Friday, January 10th. Verizon Communications's dividend payout ratio (DPR) is presently 65.46%.

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).