Verizon Communications (NYSE:VZ) Trading 0.5% Higher - Time to Buy?

Shares of Verizon Communications Inc. (NYSE:VZ - Get Free Report) traded up 0.5% on Monday . The company traded as high as $44.24 and last traded at $44.23. 2,781,961 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 20,122,727 shares. The stock had previously closed at $43.99.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Royal Bank of Canada reiterated a "sector perform" rating and issued a $45.00 target price (up previously from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. StockNews.com downgraded shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 13th. Scotiabank upped their target price on Verizon Communications from $48.50 to $49.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 23rd. Tigress Financial lifted their price target on Verizon Communications from $55.00 to $56.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Verizon Communications from $40.00 to $42.00 and gave the stock a "hold" rating in a research report on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $47.41.

Verizon Communications Trading Up 0.7%

The business has a fifty day moving average price of $43.58 and a two-hundred day moving average price of $42.04. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $186.78 billion, a PE ratio of 10.70, a PEG ratio of 4.45 and a beta of 0.39.

Verizon Communications (NYSE:VZ - Get Free Report) last released its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. The company had revenue of $33.50 billion during the quarter, compared to the consensus estimate of $33.31 billion. Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. Analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a $0.6775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.12%. Verizon Communications's dividend payout ratio (DPR) is 64.52%.

Insider Activity at Verizon Communications

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total transaction of $437,900.00. Following the completion of the transaction, the executive vice president now owns 14,459 shares in the company, valued at $633,159.61. The trade was a 40.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kyle Malady sold 9,000 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $44.10, for a total transaction of $396,900.00. Following the transaction, the chief executive officer now owns 10,008 shares of the company's stock, valued at approximately $441,352.80. The trade was a 47.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,500 shares of company stock worth $1,376,300. Company insiders own 0.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VZ. SCS Capital Management LLC acquired a new position in Verizon Communications in the first quarter valued at approximately $444,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Verizon Communications by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,993,829 shares of the cell phone carrier's stock valued at $1,904,840,000 after acquiring an additional 3,100,342 shares during the last quarter. Woodline Partners LP boosted its stake in Verizon Communications by 42.4% in the first quarter. Woodline Partners LP now owns 1,984,204 shares of the cell phone carrier's stock valued at $90,003,000 after acquiring an additional 591,011 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Verizon Communications by 46.7% in the 1st quarter. Empowered Funds LLC now owns 642,368 shares of the cell phone carrier's stock valued at $29,138,000 after purchasing an additional 204,587 shares during the last quarter. Finally, Logan Capital Management Inc. boosted its position in shares of Verizon Communications by 162.8% in the 1st quarter. Logan Capital Management Inc. now owns 333,710 shares of the cell phone carrier's stock valued at $15,137,000 after purchasing an additional 206,738 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

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).

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