Verizon Communications (NYSE:VZ) Trading Down 0.7% - Should You Sell?

Verizon Communications Inc. (NYSE:VZ - Get Free Report) shares traded down 0.7% during mid-day trading on Wednesday . The stock traded as low as $44.89 and last traded at $45.05. 4,818,492 shares traded hands during trading, a decline of 75% from the average session volume of 19,488,624 shares. The stock had previously closed at $45.38.

Wall Street Analyst Weigh In

A number of research firms recently commented on VZ. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $45.00 price target (up previously from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Tigress Financial restated a "buy" rating and issued a $55.00 target price on shares of Verizon Communications in a research report on Thursday, January 30th. TD Cowen upgraded shares of Verizon Communications to a "strong-buy" rating in a research report on Wednesday, January 15th. Scotiabank boosted their price objective on shares of Verizon Communications from $47.50 to $48.00 and gave the company a "sector perform" rating in a research report on Monday, March 3rd. Finally, Argus raised Verizon Communications to a "strong-buy" rating in a report on Monday, January 27th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $46.82.

Verizon Communications Price Performance

The company has a 50 day moving average price of $42.61 and a 200-day moving average price of $42.13. 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 company has a market cap of $191.95 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 4.45 and a beta of 0.41.

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

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.6775 dividend. 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 5.94%. Verizon Communications's dividend payout ratio (DPR) is presently 65.46%.

Insider Activity

In other news, CEO Kyle Malady sold 11,085 shares of the company's stock in a transaction on 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 directly owns 14,590 shares of the company's stock, valued at approximately $596,439.20. This represents a 43.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Vandana Venkatesh sold 10,000 shares of Verizon Communications stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 49,085 shares of company stock valued at $2,020,895. Company insiders own 0.03% of the company's stock.

Institutional Investors Weigh In On Verizon Communications

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