Brokerages Set Verizon Communications Inc. (NYSE:VZ) Price Target at $47.25

Verizon Communications Inc. (NYSE:VZ - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twenty brokerages that are currently covering the firm, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $47.00.

A number of brokerages have commented on VZ. Evercore ISI raised Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price objective on the stock in a report on Friday, April 11th. Bank of America assumed coverage on Verizon Communications in a report on Monday, July 7th. They set a "neutral" rating and a $45.00 target price on the stock. Morgan Stanley assumed coverage on Verizon Communications in a report on Thursday. They set an "equal weight" rating and a $47.00 target price on the stock. Arete Research raised Verizon Communications to a "strong-buy" rating in a report on Tuesday. Finally, Oppenheimer increased their target price on Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st.

Verizon Communications Stock Performance

NYSE VZ traded down $0.40 on Wednesday, reaching $41.63. The stock had a trading volume of 20,156,157 shares, compared to its average volume of 20,246,153. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.61 and a quick ratio of 0.58. The firm has a fifty day moving average of $43.14 and a two-hundred day moving average of $42.36. Verizon Communications has a 1-year low of $37.59 and a 1-year high of $47.36. The company has a market cap of $175.52 billion, a P/E ratio of 9.91, a price-to-earnings-growth ratio of 3.34 and a beta of 0.37.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. Verizon Communications had a return on equity of 19.66% and a net margin of 13.14%. The firm had revenue of $33.50 billion for the quarter, compared to analyst estimates of $33.31 billion. On average, equities research analysts anticipate that Verizon Communications will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a yield of 6.51%. The ex-dividend date is Thursday, July 10th. Verizon Communications's dividend payout ratio (DPR) is presently 64.52%.

Insiders Place Their Bets

In related news, CEO Kyle Malady sold 9,000 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $44.10, for a total value of $396,900.00. Following the sale, the chief executive officer directly owned 10,008 shares of the company's stock, valued at $441,352.80. This trade represents a 47.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 21,500 shares of company stock valued at $938,400 over the last quarter. Company insiders own 0.10% of the company's stock.

Hedge Funds Weigh In On Verizon Communications

Large investors have recently bought and sold shares of the company. Bernard Wealth Management Corp. raised its position in Verizon Communications by 81.0% in the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after purchasing an additional 243 shares during the last quarter. Garde Capital Inc. bought a new position in Verizon Communications in the first quarter valued at about $26,000. Cherry Tree Wealth Management LLC raised its position in Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after purchasing an additional 244 shares during the last quarter. Bulwark Capital Corp bought a new position in Verizon Communications in the second quarter valued at about $25,000. Finally, 1 North Wealth Services LLC bought a new position in Verizon Communications in the first quarter valued at about $29,000. 62.06% of the stock is currently owned by institutional investors.

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).