Verizon Communications (NYSE:VZ) Shares Up 0.3%

Shares of Verizon Communications Inc. (NYSE:VZ - Get Free Report) rose 0.3% during mid-day trading on Thursday . The stock traded as high as $39.65 and last traded at $39.59. Approximately 1,591,977 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 19,539,891 shares. The stock had previously closed at $39.48.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays raised their price target on shares of Verizon Communications from $42.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Friday, January 26th. Royal Bank of Canada boosted their target price on Verizon Communications from $36.00 to $40.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 2nd. Raymond James lifted their target price on shares of Verizon Communications from $42.00 to $46.00 and gave the stock an "outperform" rating in a report on Wednesday, January 24th. Daiwa Capital Markets upgraded Verizon Communications from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $36.00 to $47.00 in a research report on Wednesday, January 24th. Finally, Citigroup raised their price target on shares of Verizon Communications from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Tuesday, January 30th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Verizon Communications has an average rating of "Moderate Buy" and an average target price of $44.21.

Verizon Communications Trading Up 0.8 %

The firm has a 50 day simple moving average of $40.29 and a 200 day simple moving average of $39.01. The firm has a market cap of $167.49 billion, a P/E ratio of 14.85, a P/E/G ratio of 2.82 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.71.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The firm had revenue of $33 billion during the quarter, compared to the consensus estimate of $33.23 billion. During the same quarter last year, the company posted $1.20 EPS. The company's revenue for the quarter was up .3% on a year-over-year basis. On average, equities research analysts predict that Verizon Communications Inc. will post 4.6 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a $0.665 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $2.66 dividend on an annualized basis and a yield of 6.69%. Verizon Communications's dividend payout ratio (DPR) is currently 99.25%.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 24,000 shares of the business's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total transaction of $979,200.00. Following the transaction, the chief executive officer now owns 35,201 shares in the company, valued at approximately $1,436,200.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. WealthTrust Axiom LLC lifted its holdings in shares of Verizon Communications by 2.1% during the 4th quarter. WealthTrust Axiom LLC now owns 118,806 shares of the cell phone carrier's stock valued at $4,479,000 after buying an additional 2,422 shares during the period. Portland Investment Counsel Inc. boosted its stake in shares of Verizon Communications by 173.7% during the 3rd quarter. Portland Investment Counsel Inc. now owns 652,169 shares of the cell phone carrier's stock worth $21,137,000 after purchasing an additional 413,869 shares during the period. Dynamic Advisor Solutions LLC grew its holdings in shares of Verizon Communications by 1.3% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 127,632 shares of the cell phone carrier's stock worth $5,131,000 after purchasing an additional 1,616 shares during the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of Verizon Communications by 6.2% in the 3rd quarter. 180 Wealth Advisors LLC now owns 51,757 shares of the cell phone carrier's stock worth $1,677,000 after buying an additional 3,020 shares during the period. Finally, GFS Advisors LLC bought a new position in Verizon Communications in the fourth quarter worth approximately $212,000. 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).

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