Verizon Communications (NYSE:VZ) Stock Price Down 0.8%

Verizon Communications Inc. (NYSE:VZ - Get Free Report) shares dropped 0.8% on Wednesday . The company traded as low as $39.57 and last traded at $39.77. Approximately 14,016,776 shares changed hands during trading, a decline of 14% from the average daily volume of 16,262,630 shares. The stock had previously closed at $40.11.

Analyst Ratings Changes

VZ has been the subject of a number of recent research reports. Redburn Atlantic raised shares of Verizon Communications from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $33.00 to $39.00 in a research note on Friday, March 22nd. Raymond James raised their price objective on shares of Verizon Communications from $42.00 to $46.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 24th. Daiwa Capital Markets raised shares of Verizon Communications from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $36.00 to $47.00 in a research note on Wednesday, January 24th. UBS Group boosted their price objective on shares of Verizon Communications from $37.00 to $43.00 and gave the company a "neutral" rating in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada raised their price objective on Verizon Communications from $36.00 to $40.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 2nd. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Verizon Communications presently has an average rating of "Moderate Buy" and an average price target of $44.50.

Verizon Communications Stock Performance

The firm has a market capitalization of $167.20 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 3.27 and a beta of 0.41. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.69 and a quick ratio of 0.65. The stock has a 50-day moving average price of $40.54 and a 200-day moving average price of $38.17.

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 (EPS) for the quarter, hitting analysts' consensus estimates of $1.08. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. The business had revenue of $35.10 billion for the quarter, compared to analyst estimates of $34.60 billion. During the same period in the previous year, the company earned $1.19 earnings per share. The company's revenue for the quarter was down .6% compared to the same quarter last year. On average, research analysts expect that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

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

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 15,000 shares of Verizon Communications stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $40.33, for a total value of $604,950.00. Following the completion of the transaction, the chief executive officer now directly owns 59,201 shares in the company, valued at $2,387,576.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.03% of the company's stock.

Hedge Funds Weigh In On Verizon Communications

Hedge funds have recently bought and sold shares of the company. LFA Lugano Financial Advisors SA boosted its stake in 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 valued at $25,000 after acquiring an additional 565 shares during the period. Criterion Capital Advisors LLC acquired a new position in Verizon Communications in the fourth quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in Verizon Communications in the fourth quarter valued at approximately $29,000. Morton Brown Family Wealth LLC boosted its stake in Verizon Communications by 130.1% in the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier's stock valued at $33,000 after acquiring an additional 488 shares during the period. Finally, HBC Financial Services PLLC boosted its stake in Verizon Communications by 320.0% in the third quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier's stock valued at $34,000 after acquiring an additional 800 shares during the period. 62.06% of the stock is currently 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).