Verizon Communications (NYSE:VZ) Stock Price Down 0.9% – Time to Sell?

Verizon Communications Inc. (NYSE:VZ)’s stock price fell 0.9% on Friday . The company traded as low as $41.68 and last traded at $41.74. 3,564,060 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 18,544,869 shares. The stock had previously closed at $42.13.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on VZ shares. Citigroup increased their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. UBS Group raised their target price on shares of Verizon Communications from $43.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Royal Bank of Canada raised their target price on shares of Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a report on Monday, September 23rd. Scotiabank raised their price target on shares of Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Finally, TD Cowen raised their price target on shares of Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.37.

Verizon Communications Stock Down 1.2 %

The company has a market capitalization of $175.25 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.62 and a current ratio of 0.66. The firm’s fifty day moving average is $43.16 and its 200-day moving average is $41.33.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The company had revenue of $33.30 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter in the previous year, the company earned $1.22 EPS. Verizon Communications’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities research analysts predict that Verizon Communications Inc. will post 4.61 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.678 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date of this dividend is Thursday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio (DPR) is currently 116.81%.

Institutional Investors Weigh In On Verizon Communications

Institutional investors and hedge funds have recently bought and sold shares of the stock. Alliance Wealth Advisors LLC grew its holdings in Verizon Communications by 1.4% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 17,760 shares of the cell phone carrier’s stock worth $732,000 after buying an additional 241 shares in the last quarter. Fermata Advisors LLC lifted its position in Verizon Communications by 4.5% in the third quarter. Fermata Advisors LLC now owns 5,626 shares of the cell phone carrier’s stock worth $253,000 after purchasing an additional 243 shares during the period. Austin Private Wealth LLC lifted its position in Verizon Communications by 3.0% in the third quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier’s stock worth $379,000 after purchasing an additional 243 shares during the period. Semmax Financial Advisors Inc. lifted its position in Verizon Communications by 0.4% in the second quarter. Semmax Financial Advisors Inc. now owns 54,926 shares of the cell phone carrier’s stock worth $2,240,000 after purchasing an additional 246 shares during the period. Finally, Cary Street Partners Asset Management LLC lifted its position in Verizon Communications by 3.4% in the third quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock worth $343,000 after purchasing an additional 249 shares during the period. 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).