Verizon Communications (NYSE:VZ) Trading 0.5% Higher - Here's Why

Verizon Communications Inc. (NYSE:VZ - Get Free Report) shares were up 0.5% on Friday . The company traded as high as $44.24 and last traded at $43.97. Approximately 6,216,189 shares changed hands during trading, a decline of 66% from the average daily volume of 18,118,913 shares. The stock had previously closed at $43.75.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VZ. Royal Bank of Canada reduced their price target on Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. Scotiabank boosted their target price on shares of Verizon Communications from $47.50 to $48.00 and gave the stock a "sector perform" rating in a research report on Monday, March 3rd. UBS Group raised their price target on shares of Verizon Communications from $44.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, December 20th. Argus upgraded shares of Verizon Communications to a "strong-buy" rating in a report on Monday, January 27th. Finally, DZ Bank upgraded Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 target price on the stock in a report on Wednesday, January 29th. Ten research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Verizon Communications currently has an average rating of "Moderate Buy" and an average price target of $46.53.

Verizon Communications Trading Down 0.3 %

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 stock has a market capitalization of $184.70 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 4.45 and a beta of 0.41. The company's 50 day moving average is $41.52 and its 200 day moving average is $42.01.

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Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 EPS 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 last year, the business posted $1.08 EPS. On average, research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.18%. The ex-dividend date is Thursday, April 10th. Verizon Communications's payout ratio is presently 65.46%.

Insider Activity at Verizon Communications

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was 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 in the company, valued at $633,159.61. This represents a 40.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kyle Malady sold 8,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $39.88, for a total value of $319,040.00. Following the transaction, the chief executive officer now owns 6,590 shares of the company's stock, valued at $262,809.20. This represents a 54.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,085 shares of company stock worth $2,020,895. 0.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Verizon Communications

Hedge funds have recently made changes to their positions in the company. Mainstream Capital Management LLC acquired a new stake in shares of Verizon Communications during the fourth quarter worth approximately $28,000. Legend Financial Advisors Inc. grew its holdings in shares of Verizon Communications by 69.6% during the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier's stock worth $31,000 after purchasing an additional 320 shares during the last quarter. Mattson Financial Services LLC lifted its position in Verizon Communications by 114.6% during the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier's stock worth $31,000 after buying an additional 415 shares in the last quarter. Graney & King LLC bought a new stake in Verizon Communications during the 4th quarter worth about $32,000. Finally, Capital A Wealth Management LLC acquired a new stake in Verizon Communications in the 4th quarter valued at about $32,000. 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).