Verizon Communications Inc. (NYSE:VZ – Get Free Report)’s stock price shot up 1.6% during trading on Tuesday . The company traded as high as $43.95 and last traded at $43.90. 3,031,003 shares were traded during trading, a decline of 84% from the average session volume of 18,465,588 shares. The stock had previously closed at $43.19.
Analysts Set New Price Targets
A number of research firms recently commented on VZ. Bank of America raised their price target on shares of Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Scotiabank raised their target price on shares of Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a report on Wednesday, July 10th. KeyCorp decreased their target price on shares of Verizon Communications from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Friday, September 6th. TD Cowen raised their target price on shares of Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Tigress Financial raised their target price on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and an average price target of $46.26.
View Our Latest Stock Analysis on Verizon Communications
Verizon Communications Trading Down 0.1 %
Verizon Communications (NYSE:VZ – Get Free Report) last posted its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The business had revenue of $32.80 billion for the quarter, compared to the consensus estimate of $33.05 billion. During the same period last year, the company earned $1.21 EPS. The firm’s revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.
Verizon Communications Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.678 per share. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 annualized dividend and a yield of 6.18%. Verizon Communications’s dividend payout ratio (DPR) is currently 101.12%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Verizon Communications during the 1st quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new stake in Verizon Communications during the 2nd quarter valued at $32,000. MFA Wealth Advisors LLC bought a new stake in Verizon Communications during the 2nd quarter valued at $33,000. Pittenger & Anderson Inc. increased its stake in Verizon Communications by 50.4% during the 1st quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock valued at $37,000 after purchasing an additional 296 shares in the last quarter. Finally, Financial Synergies Wealth Advisors Inc. increased its stake in Verizon Communications by 2,159.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 994 shares of the cell phone carrier’s stock valued at $42,000 after purchasing an additional 950 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.
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).
See Also
- Five stocks we like better than Verizon Communications
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- Taiwan Semiconductor Soars on Earnings With More Room to Run
- How to Know Which Cryptocurrency to Buy: A Guide for Investors
- Is Lucid Group Nearing the Bottom? What Investors Should Know
- 3 Ways To Invest In Coffee, Other Than Drinking It
- 90% Gain Possible? Analysts Are Bullish on Joby Aviation
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.