Verizon Communications (NYSE:VZ) Trading Down 0.8%

Shares of Verizon Communications Inc. (NYSE:VZ) traded down 0.8% on Wednesday . The stock traded as low as $39.57 and last traded at $39.77. 14,016,776 shares were traded during mid-day trading, a decline of 14% from the average session volume of 16,262,630 shares. The stock had previously closed at $40.11.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada increased their price objective on Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a report on Tuesday, April 2nd. Raymond James increased their price target on Verizon Communications from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. KeyCorp increased their price target on Verizon Communications from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Wells Fargo & Company increased their price target on Verizon Communications from $40.00 to $44.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Finally, Barclays increased their price target on Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Verizon Communications Stock Performance

The company has a quick ratio of 0.65, a current ratio of 0.69 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $167.20 billion, a PE ratio of 14.41, a PEG ratio of 3.27 and a beta of 0.41. The stock’s fifty day simple moving average is $40.55 and its 200-day simple moving average is $38.16.

Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $34.60 billion. During the same period last year, the company posted $1.19 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, research analysts predict that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.665 per share. 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 dividend payout ratio (DPR) is 96.38%.

Insider Transactions at Verizon Communications

In other news, CEO Kyle Malady sold 24,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total transaction of $979,200.00. Following the completion of the transaction, the chief executive officer now directly owns 35,201 shares of the company’s stock, valued at approximately $1,436,200.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.03% of the company’s stock.

Institutional Trading of Verizon Communications

Several hedge funds and other institutional investors have recently bought and sold shares of the company. LFA Lugano Financial Advisors SA boosted its holdings in shares of Verizon Communications by 627.8% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock valued at $25,000 after purchasing an additional 565 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in shares of Verizon Communications during the 4th quarter valued at $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Verizon Communications during the 4th quarter valued at $29,000. Morton Brown Family Wealth LLC lifted its holdings in shares of Verizon Communications by 130.1% during the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock valued at $33,000 after acquiring an additional 488 shares in the last quarter. Finally, HBC Financial Services PLLC lifted its holdings in shares of Verizon Communications by 320.0% during the 3rd quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier’s stock valued at $34,000 after acquiring an additional 800 shares in the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

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).