Verizon Communications (NYSE:VZ) Trading Down 1.1%

Verizon Communications Inc. (NYSE:VZ)’s share price was down 1.1% on Tuesday . The stock traded as low as $39.61 and last traded at $39.68. Approximately 3,403,230 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 19,563,414 shares. The stock had previously closed at $40.11.

Analysts Set New Price Targets

A number of analysts recently weighed in on VZ shares. Wells Fargo & Company raised their target price on shares of Verizon Communications from $40.00 to $44.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Citigroup lifted their target price on Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Royal Bank of Canada increased their price target on Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 2nd. Barclays boosted their price objective on Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Finally, Wolfe Research upgraded shares of Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 target price for the company in a report on Thursday, January 4th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Verizon Communications Stock Down 0.8 %

The firm has a 50-day moving average price of $40.58 and a two-hundred day moving average price of $38.10. The company has a market capitalization of $167.20 billion, a P/E ratio of 14.38, a PEG ratio of 3.24 and a beta of 0.41. The company has a quick ratio of 0.65, a current ratio of 0.69 and a debt-to-equity ratio of 1.47.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.08. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The company had revenue of $35.10 billion for the quarter, compared to the consensus estimate of $34.60 billion. During the same quarter in the previous year, the firm posted $1.19 EPS. The business’s revenue was down .6% compared to the same quarter last year. Equities research analysts anticipate that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.69%. Verizon Communications’s payout ratio is 96.38%.

Insider Buying and Selling

In other news, CEO Kyle Malady sold 15,000 shares of Verizon Communications stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $40.33, for a total transaction of $604,950.00. Following the sale, the chief executive officer now directly owns 59,201 shares in the company, valued at approximately $2,387,576.33. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.03% of the stock is owned by company insiders.

Institutional Trading of Verizon Communications

Institutional investors have recently bought and sold shares of the stock. Certified Advisory Corp boosted its stake in Verizon Communications by 1.0% in the 1st quarter. Certified Advisory Corp now owns 23,297 shares of the cell phone carrier’s stock worth $1,187,000 after purchasing an additional 233 shares during the period. Pacifica Partners Inc. raised its position in Verizon Communications by 4.6% in the 4th quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock valued at $223,000 after buying an additional 255 shares during the last quarter. Private Portfolio Partners LLC lifted its stake in Verizon Communications by 0.9% in the 4th quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier’s stock valued at $1,035,000 after acquiring an additional 255 shares in the last quarter. Selective Wealth Management Inc. boosted its position in Verizon Communications by 2.8% during the 4th quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier’s stock worth $374,000 after acquiring an additional 257 shares during the last quarter. Finally, Horizon Bancorp Inc. IN grew its stake in shares of Verizon Communications by 24.9% during the 4th quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock worth $49,000 after acquiring an additional 258 shares in the last quarter. Institutional investors and hedge funds 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).