Verizon Communications (NYSE:VZ) Stock Price Down 1.1%

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s stock price was down 1.1% on Tuesday . The company traded as low as $39.61 and last traded at $39.68. Approximately 3,403,230 shares changed hands during trading, a decline of 83% from the average daily volume of 19,563,414 shares. The stock had previously closed at $40.11.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on VZ shares. Oppenheimer reaffirmed an "outperform" rating and set a $48.00 price target on shares of Verizon Communications in a research report on Wednesday, April 3rd. Wells Fargo & Company increased their price objective on Verizon Communications from $40.00 to $44.00 and gave the company an "equal weight" rating in a report on Wednesday, January 24th. Tigress Financial increased their price objective on Verizon Communications from $45.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, January 25th. Redburn Atlantic raised Verizon Communications from a "sell" rating to a "neutral" rating and increased their price objective for the company from $33.00 to $39.00 in a report on Friday, March 22nd. Finally, Royal Bank of Canada increased their price objective on Verizon Communications from $36.00 to $40.00 and gave the company a "sector perform" rating in a report on Tuesday, April 2nd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $44.50.

Verizon Communications Trading Down 0.8 %

The company has a current ratio of 0.69, a quick ratio of 0.65 and a debt-to-equity ratio of 1.47. The firm has a market cap of $167.22 billion, a P/E ratio of 14.38, a PEG ratio of 3.24 and a beta of 0.41. The business has a 50 day moving average of $40.58 and a two-hundred day moving average of $38.10.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. The firm had revenue of $35.10 billion for the quarter, compared to analysts' expectations of $34.60 billion. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. The company's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business earned $1.19 EPS. Analysts predict that Verizon Communications Inc. will post 4.58 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 6.69%. The ex-dividend date of this dividend is Tuesday, April 9th. Verizon Communications's payout ratio is 96.38%.

Insiders Place Their Bets

In related news, CEO Kyle Malady sold 24,000 shares of the firm's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total value of $979,200.00. Following the transaction, the chief executive officer now owns 35,201 shares in the company, valued at $1,436,200.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.03% of the company's stock.

Institutional Trading of Verizon Communications

Large investors have recently bought and sold shares of the business. BCK Partners Inc. acquired a new stake in shares of Verizon Communications during the first quarter valued at about $2,101,000. Axiom Financial Strategies LLC boosted its stake in shares of Verizon Communications by 8.9% during the first quarter. Axiom Financial Strategies LLC now owns 5,980 shares of the cell phone carrier's stock valued at $279,000 after purchasing an additional 487 shares in the last quarter. Ergoteles LLC lifted its stake in shares of Verizon Communications by 174.0% in the first quarter. Ergoteles LLC now owns 91,776 shares of the cell phone carrier's stock worth $4,675,000 after acquiring an additional 58,283 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Verizon Communications by 10.5% in the first quarter. Mackenzie Financial Corp now owns 1,194,111 shares of the cell phone carrier's stock worth $60,828,000 after acquiring an additional 113,032 shares during the period. Finally, First Western Trust Bank acquired a new position in shares of Verizon Communications in the first quarter worth approximately $567,000. 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).