Verizon Communications (NYSE:VZ) Trading Up 1.2% - Still a Buy?

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s stock price was up 1.2% on Wednesday . The stock traded as high as $41.63 and last traded at $41.69. Approximately 3,800,538 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 22,585,961 shares. The stock had previously closed at $41.20.

Analyst Ratings Changes

Several brokerages have commented on VZ. TD Cowen upgraded shares of Verizon Communications to a "strong-buy" rating in a report on Wednesday, January 15th. UBS Group raised their price objective on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, December 20th. Argus upgraded Verizon Communications to a "strong-buy" rating in a report on Monday, January 27th. DZ Bank raised Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 target price for the company in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Verizon Communications from $40.00 to $42.00 and gave the stock a "hold" rating in a research note on Friday, January 24th. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $46.08.

Verizon Communications Price Performance

The firm has a fifty day moving average of $39.90 and a 200 day moving average of $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 capitalization of $180.74 billion, a P/E ratio of 10.39, a P/E/G ratio of 4.40 and a beta of 0.45.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results 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 return on equity of 19.80% and a net margin of 12.99%. During the same quarter in the prior year, the business earned $1.08 earnings per share. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued 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 6.31%. Verizon Communications's payout ratio is 65.46%.

Insider Transactions at Verizon Communications

In other news, CEO Kyle Malady sold 8,000 shares of Verizon Communications stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $39.88, for a total transaction of $319,040.00. Following the transaction, the chief executive officer now owns 6,590 shares in the company, valued at $262,809.20. This trade represents a 54.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 39,085 shares of company stock worth $1,582,995 in the last ninety days. Insiders own 0.02% of the company's stock.

Hedge Funds Weigh In On Verizon Communications

A number of institutional investors have recently bought and sold shares of the stock. Austin Private Wealth LLC raised its stake in shares of Verizon Communications by 3.0% in the third quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier's stock worth $379,000 after buying an additional 243 shares during the period. NCM Capital Management LLC raised its stake in Verizon Communications by 1.4% during the 4th quarter. NCM Capital Management LLC now owns 18,390 shares of the cell phone carrier's stock worth $735,000 after acquiring an additional 245 shares during the period. Cary Street Partners Asset Management LLC boosted its position in shares of Verizon Communications by 3.4% in the third quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier's stock worth $343,000 after purchasing an additional 249 shares during the period. First Personal Financial Services increased its stake in shares of Verizon Communications by 0.3% in the third quarter. First Personal Financial Services now owns 91,092 shares of the cell phone carrier's stock worth $4,091,000 after purchasing an additional 250 shares in the last quarter. Finally, Encompass Wealth Advisors LLC raised its position in shares of Verizon Communications by 2.0% during the 3rd quarter. Encompass Wealth Advisors LLC now owns 12,505 shares of the cell phone carrier's stock valued at $562,000 after purchasing an additional 250 shares during the period. 62.06% of the stock is owned by institutional investors.

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).