Verizon Communications (NYSE:VZ) Stock Price Up 1.6% - What's Next?

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s share price was up 1.6% during trading on Friday . The company traded as high as $43.90 and last traded at $43.59. Approximately 7,133,410 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 20,031,865 shares. The stock had previously closed at $42.92.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Tigress Financial reaffirmed a "buy" rating and issued a $55.00 price target on shares of Verizon Communications in a report on Thursday, January 30th. Oppenheimer raised their price target on Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. Argus upgraded Verizon Communications to a "strong-buy" rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft raised their target price on Verizon Communications from $40.00 to $42.00 and gave the company a "hold" rating in a research note on Friday, January 24th. Finally, Scotiabank increased their price objective on shares of Verizon Communications from $48.00 to $48.50 and gave the stock a "sector perform" rating in a report on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $46.92.

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Verizon Communications Trading Up 0.4 %

The firm has a market capitalization of $187.22 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The firm's 50 day moving average is $43.15 and its 200 day moving average is $42.02.

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

Verizon Communications Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.09%. Verizon Communications's dividend payout ratio is currently 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 dated Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now directly owns 14,459 shares of the company's stock, valued at $633,159.61. This represents a 40.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kyle Malady sold 11,085 shares of Verizon Communications stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total value of $453,154.80. Following the sale, the chief executive officer now owns 14,590 shares of the company's stock, valued at approximately $596,439.20. This represents a 43.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,085 shares of company stock worth $2,020,895. 0.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Verizon Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC increased its position in Verizon Communications by 27.7% during the fourth quarter. Foundations Investment Advisors LLC now owns 222,366 shares of the cell phone carrier's stock worth $8,892,000 after buying an additional 48,294 shares during the last quarter. Roffman Miller Associates Inc. PA increased its holdings in shares of Verizon Communications by 1.8% during the 4th quarter. Roffman Miller Associates Inc. PA now owns 382,678 shares of the cell phone carrier's stock valued at $15,303,000 after acquiring an additional 6,795 shares during the last quarter. Burney Co. raised its stake in shares of Verizon Communications by 30.4% in the 4th quarter. Burney Co. now owns 186,621 shares of the cell phone carrier's stock valued at $7,463,000 after acquiring an additional 43,472 shares in the last quarter. Global Wealth Management Investment Advisory Inc. acquired a new stake in Verizon Communications in the 4th quarter worth approximately $4,333,000. Finally, Private Advisor Group LLC boosted its position in Verizon Communications by 64.6% during the fourth quarter. Private Advisor Group LLC now owns 1,394,921 shares of the cell phone carrier's stock worth $55,783,000 after purchasing an additional 547,384 shares during the period. Institutional investors own 62.06% of the company's stock.

About Verizon Communications

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).