Verizon Communications (NYSE:VZ) Stock Price Down 0.1%

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s share price dropped 0.1% during mid-day trading on Tuesday . The company traded as low as $39.21 and last traded at $39.29. Approximately 2,683,011 shares changed hands during trading, a decline of 86% from the average daily volume of 19,740,373 shares. The stock had previously closed at $39.33.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. UBS Group upped their price target on shares of Verizon Communications from $37.00 to $43.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 24th. Redburn Atlantic upgraded Verizon Communications from a "sell" rating to a "neutral" rating and raised their price target for the stock from $33.00 to $39.00 in a research report on Friday, March 22nd. Oppenheimer reiterated an "outperform" rating and issued a $48.00 price objective on shares of Verizon Communications in a report on Tuesday, April 23rd. Wells Fargo & Company reduced their target price on Verizon Communications from $44.00 to $40.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 23rd. Finally, 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 research report on Tuesday, April 2nd. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Verizon Communications presently has a consensus rating of "Moderate Buy" and an average target price of $44.21.

Verizon Communications Stock Down 0.1 %

The firm has a market capitalization of $165.47 billion, a P/E ratio of 14.67, a PEG 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. The firm's 50-day moving average is $40.30 and its 200 day moving average is $39.01.

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

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date of this dividend was Tuesday, April 9th. Verizon Communications's dividend payout ratio (DPR) is currently 99.25%.

Insiders Place Their Bets

In related news, CEO Kyle Malady sold 24,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total transaction of $979,200.00. Following the completion of the transaction, the chief executive officer now directly owns 35,201 shares of the company's stock, valued at $1,436,200.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.03% of the company's stock.

Institutional Trading of Verizon Communications

A number of large investors have recently added to or reduced their stakes in VZ. LFA Lugano Financial Advisors SA increased its position in Verizon Communications by 627.8% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier's stock worth $25,000 after buying an additional 565 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in shares of Verizon Communications during the 4th quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC bought a new stake in Verizon Communications in the 4th quarter valued at $29,000. Morton Brown Family Wealth LLC lifted its holdings in 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 purchasing an additional 488 shares during the last quarter. Finally, Pittenger & Anderson Inc. boosted its position in Verizon Communications by 50.4% during the first quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier's stock worth $37,000 after purchasing an additional 296 shares during the period. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Company Profile

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).