Verizon Communications (NYSE:VZ) PT Raised to $40.00 at Royal Bank of Canada

Verizon Communications (NYSE:VZ - Free Report) had its target price boosted by Royal Bank of Canada from $36.00 to $40.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a sector perform rating on the cell phone carrier's stock.

Several other equities analysts have also recently commented on VZ. Oppenheimer reissued an outperform rating and set a $43.00 target price on shares of Verizon Communications in a research note on Tuesday, December 19th. Barclays upped their target price on Verizon Communications from $42.00 to $44.00 and gave the stock an equal weight rating in a research report on Friday, January 26th. Wolfe Research upgraded Verizon Communications from a peer perform rating to an outperform rating and set a $46.00 price target on the stock in a research report on Thursday, January 4th. Daiwa Capital Markets upgraded Verizon Communications from a neutral rating to an outperform rating and upped their price objective for the company from $36.00 to $47.00 in a report on Wednesday, January 24th. Finally, Raymond James lifted their target price on Verizon Communications from $42.00 to $46.00 and gave the stock an outperform rating in a report on Wednesday, January 24th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $44.14.

Verizon Communications Stock Performance

Shares of NYSE VZ traded up $0.27 during midday trading on Tuesday, hitting $42.55. 17,254,848 shares of the company's stock were exchanged, compared to its average volume of 20,210,395. Verizon Communications has a twelve month low of $30.14 and a twelve month high of $43.21. The firm has a market cap of $178.89 billion, a P/E ratio of 15.43, a PEG ratio of 3.40 and a beta of 0.41. The stock's 50 day moving average price is $40.74 and its 200-day moving average price is $37.53. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.69 and a quick ratio of 0.65.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, meeting the consensus estimate of $1.08. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. The firm had revenue of $35.10 billion for the quarter, compared to the consensus estimate of $34.60 billion. During the same quarter in the previous year, the business earned $1.19 EPS. The firm's revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts anticipate that Verizon Communications will post 4.61 EPS for the current year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 6.25%. The ex-dividend date is Tuesday, April 9th. Verizon Communications's payout ratio is 96.38%.

Insider Transactions at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 24,000 shares of the business's stock in a transaction 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 sale, 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 document filed with the SEC, which is available through the SEC website. 0.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Verizon Communications

Institutional investors and hedge funds have recently bought and sold shares of the business. LFA Lugano Financial Advisors SA increased its stake in shares of Verizon Communications by 627.8% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier's stock worth $25,000 after acquiring an additional 565 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in Verizon Communications in the 4th quarter worth about $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Verizon Communications during the 4th quarter worth about $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 buying an additional 488 shares during the last quarter. Finally, CGC Financial Services LLC bought a new stake in shares of Verizon Communications in the 2nd quarter valued at approximately $32,000. Hedge funds and other 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).