Verizon Communications (NYSE:VZ) Trading Up 0.2% – What’s Next?

Verizon Communications Inc. (NYSE:VZ) shares were up 0.2% during trading on Tuesday . The company traded as high as $43.73 and last traded at $43.67. Approximately 3,795,132 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 18,343,427 shares. The stock had previously closed at $43.56.

Analyst Ratings Changes

Several research firms have weighed in on VZ. Scotiabank lifted their target price on Verizon Communications from $47.50 to $48.00 and gave the stock a “sector perform” rating in a report on Monday, March 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $45.00 price objective (up from $42.00) on shares of Verizon Communications in a research report on Tuesday. Argus upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. Wolfe Research lowered shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, March 12th. Finally, UBS Group increased their price objective on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Verizon Communications presently has a consensus rating of “Moderate Buy” and an average target price of $46.71.

Verizon Communications Price Performance

The stock has a market cap of $189.50 billion, a price-to-earnings ratio of 10.87, a price-to-earnings-growth 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. The company has a 50-day simple moving average of $41.85 and a two-hundred day simple moving average of $42.05.

Verizon Communications (NYSE:VZ) last issued its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same quarter last year, the company earned $1.08 EPS. As a group, equities research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The company 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 $0.6775 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.02%. Verizon Communications’s dividend payout ratio (DPR) is currently 65.46%.

Insiders Place Their Bets

In related news, CEO Kyle Malady sold 20,000 shares of Verizon Communications stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $40.54, for a total transaction 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. The trade was a 30.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now owns 14,459 shares in the company, valued at approximately $633,159.61. This trade represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,085 shares of company stock valued at $2,020,895 over the last 90 days. 0.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Verizon Communications

A number of hedge funds have recently added to or reduced their stakes in VZ. NCM Capital Management LLC increased its position in shares of Verizon Communications by 1.4% in the fourth quarter. NCM Capital Management LLC now owns 18,390 shares of the cell phone carrier’s stock worth $735,000 after purchasing an additional 245 shares during the period. Kirtland Hills Capital Management LLC grew its stake in Verizon Communications by 2.4% during the fourth quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier’s stock worth $439,000 after buying an additional 252 shares in the last quarter. First Dallas Securities Inc. increased its holdings in Verizon Communications by 0.8% in the 3rd quarter. First Dallas Securities Inc. now owns 31,728 shares of the cell phone carrier’s stock valued at $1,425,000 after buying an additional 257 shares during the period. JB Capital LLC raised its position in shares of Verizon Communications by 1.3% in the 4th quarter. JB Capital LLC now owns 20,816 shares of the cell phone carrier’s stock valued at $832,000 after buying an additional 258 shares in the last quarter. Finally, Curbstone Financial Management Corp lifted its holdings in shares of Verizon Communications by 0.8% during the 4th quarter. Curbstone Financial Management Corp now owns 34,786 shares of the cell phone carrier’s stock worth $1,391,000 after acquiring an additional 262 shares during the period. Institutional investors 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).