Verizon Communications (NYSE:VZ) Trading Down 2.8% - What's Next?

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s share price was down 2.8% during mid-day trading on Friday . The stock traded as low as $44.60 and last traded at $44.37. Approximately 10,468,052 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 19,582,704 shares. The stock had previously closed at $45.62.

Analysts Set New Price Targets

Several research firms recently commented on VZ. Scotiabank upped their target price on shares of Verizon Communications from $47.50 to $48.00 and gave the company a "sector perform" rating in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Verizon Communications from $40.00 to $42.00 and gave the company a "hold" rating in a research note on Friday, January 24th. Sanford C. Bernstein started coverage on Verizon Communications in a research note on Tuesday, December 10th. They set a "market perform" rating and a $48.00 price target on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $45.00 price objective (up previously from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. Finally, DZ Bank upgraded Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price objective on the stock in a research report on Wednesday, January 29th. Ten research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $46.82.

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Verizon Communications Price Performance

The stock has a market capitalization of $181.47 billion, a P/E ratio of 10.41, a PEG ratio of 4.45 and a beta of 0.41. The company's 50 day simple moving average is $42.61 and its two-hundred day simple moving average is $42.13. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59.

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 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 period last year, the firm earned $1.08 EPS. As a group, equities analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date is Thursday, April 10th. Verizon Communications's dividend payout ratio is currently 65.46%.

Insiders Place Their Bets

In other news, CEO Kyle Malady sold 8,000 shares of Verizon Communications 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 completion of the sale, the chief executive officer now directly owns 6,590 shares of the company's stock, valued at approximately $262,809.20. This trade represents a 54.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were 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 in the company, valued at $633,159.61. This trade represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,085 shares of company stock valued at $2,020,895. Insiders own 0.03% of the company's stock.

Institutional Investors Weigh In On Verizon Communications

A number of institutional investors and hedge funds have recently modified their holdings of the business. NCM Capital Management LLC raised its position in shares of 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 valued at $735,000 after acquiring an additional 245 shares during the last quarter. Kirtland Hills Capital Management LLC lifted its stake in Verizon Communications by 2.4% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier's stock valued at $439,000 after buying an additional 252 shares during the period. First Dallas Securities Inc. boosted its holdings in Verizon Communications by 0.8% during the third quarter. First Dallas Securities Inc. now owns 31,728 shares of the cell phone carrier's stock worth $1,425,000 after buying an additional 257 shares during the last quarter. JB Capital LLC grew its position in shares of Verizon Communications by 1.3% during the 4th quarter. JB Capital LLC now owns 20,816 shares of the cell phone carrier's stock worth $832,000 after buying an additional 258 shares during the period. Finally, Curbstone Financial Management Corp increased its stake in shares of Verizon Communications by 0.8% in the 4th quarter. Curbstone Financial Management Corp now owns 34,786 shares of the cell phone carrier's stock valued at $1,391,000 after acquiring an additional 262 shares during the last quarter. 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).

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