Verizon Communications (NYSE:VZ) Trading Up 0.1% – Time to Buy?

Verizon Communications Inc. (NYSE:VZ) rose 0.1% during trading on Friday . The company traded as high as $45.34 and last traded at $45.00. Approximately 4,482,533 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 18,343,393 shares. The stock had previously closed at $44.96.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 price target (up from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. Sanford C. Bernstein started coverage on shares of Verizon Communications in a report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 target price for the company. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Scotiabank lifted their price objective on Verizon Communications from $47.50 to $48.00 and gave the company a “sector perform” rating in a research note on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Verizon Communications has an average rating of “Moderate Buy” and a consensus target price of $46.71.

Verizon Communications Stock Performance

The stock’s 50-day simple moving average is $42.11 and its 200 day simple moving average is $42.08. The company has a market capitalization of $189.25 billion, a PE ratio of 10.86, a P/E/G ratio of 4.45 and a beta of 0.41. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63.

Verizon Communications (NYSE:VZ) last posted its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 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 period in the previous year, the business posted $1.08 earnings per share. As a group, research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a yield of 6.03%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s payout ratio is 65.46%.

Insider Buying and Selling at Verizon Communications

In related news, EVP Vandana Venkatesh sold 10,000 shares of the firm’s stock in a transaction that occurred 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 owns 14,459 shares in the company, valued at $633,159.61. This trade represents a 40.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kyle Malady sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $40.54, for a total value of $810,800.00. Following the completion of the sale, the chief executive officer now owns 45,675 shares of the company’s stock, valued at approximately $1,851,664.50. This represents a 30.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,085 shares of company stock worth $2,020,895 over the last three months. Insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Verizon Communications

Institutional investors have recently modified their holdings of the business. Public Sector Pension Investment Board increased its stake in Verizon Communications by 12.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 183,305 shares of the cell phone carrier’s stock valued at $8,232,000 after buying an additional 20,900 shares during the period. Fred Alger Management LLC raised its position in Verizon Communications by 2.9% in the third quarter. Fred Alger Management LLC now owns 124,094 shares of the cell phone carrier’s stock worth $5,573,000 after acquiring an additional 3,520 shares in the last quarter. White Knight Strategic Wealth Advisors LLC grew its stake in shares of Verizon Communications by 173.9% during the 3rd quarter. White Knight Strategic Wealth Advisors LLC now owns 18,097 shares of the cell phone carrier’s stock worth $813,000 after purchasing an additional 11,491 shares during the period. Kolinsky Wealth Management LLC increased its holdings in shares of Verizon Communications by 8.5% in the 3rd quarter. Kolinsky Wealth Management LLC now owns 11,294 shares of the cell phone carrier’s stock valued at $507,000 after purchasing an additional 885 shares in the last quarter. Finally, Encompass More Asset Management acquired a new stake in shares of Verizon Communications in the third quarter valued at about $251,000. 62.06% of the stock is owned by institutional investors and hedge funds.

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).