Verizon Communications (NYSE:VZ) Trading Down 0%

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s stock price was down 0% during mid-day trading on Tuesday . The company traded as low as $40.42 and last traded at $40.53. Approximately 3,486,581 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 19,474,666 shares. The stock had previously closed at $40.54.

Analyst Ratings Changes

VZ has been the subject of several recent research reports. Royal Bank of Canada upped their price objective on Verizon Communications from $36.00 to $40.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 2nd. KeyCorp boosted their price objective on Verizon Communications from $45.00 to $46.00 and gave the company an "overweight" rating in a research note on Wednesday, January 24th. Wells Fargo & Company decreased their price target on shares of Verizon Communications from $44.00 to $40.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 23rd. Raymond James upped their target price on shares of Verizon Communications from $42.00 to $46.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 24th. Finally, StockNews.com upgraded shares of Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, May 4th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.21.

Verizon Communications Stock Down 0.1 %

The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. The business has a fifty day simple moving average of $40.30 and a two-hundred day simple moving average of $39.19. The company has a market cap of $170.43 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 2.93 and a beta of 0.42.

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

Verizon Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were issued a $0.665 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.57%. Verizon Communications's payout ratio is currently 99.25%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Verizon Communications

Institutional investors have recently added to or reduced their stakes in the business. LFA Lugano Financial Advisors SA boosted its stake in shares of 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 valued at $25,000 after acquiring an additional 565 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of Verizon Communications in the 4th quarter worth about $25,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Verizon Communications during the 4th 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, Pittenger & Anderson Inc. grew its position in shares of 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 acquiring an additional 296 shares during the last quarter. 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).