Verizon Communications (NYSE:VZ) Trading 1.1% Higher - Should You Buy?

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s share price traded up 1.1% during trading on Friday . The stock traded as high as $43.78 and last traded at $43.82. 2,377,204 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 20,078,306 shares. The stock had previously closed at $43.33.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VZ. Tigress Financial increased their price target on Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Scotiabank upped their price objective on shares of Verizon Communications from $48.50 to $49.00 and gave the company a "sector perform" rating in a report on Wednesday, April 23rd. Oppenheimer lifted their target price on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Royal Bank of Canada restated a "sector perform" rating and set a $45.00 price target (up from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Finally, Wall Street Zen lowered shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 13th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.41.

Verizon Communications Price Performance

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 stock has a market capitalization of $185.89 billion, a PE ratio of 10.65, a PEG ratio of 4.45 and a beta of 0.39. The business has a fifty day moving average price of $43.57 and a 200-day moving average price of $42.23.

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

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 7,500 shares of Verizon Communications stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $43.88, for a total value of $329,100.00. Following the transaction, the chief executive officer now directly owns 19,008 shares of the company's stock, valued at $834,071.04. The trade was a 28.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 21,500 shares of company stock valued at $938,400 over the last three months. Insiders own 0.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VZ. Bernard Wealth Management Corp. grew its stake in shares of Verizon Communications by 81.0% in the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after purchasing an additional 243 shares during the last quarter. Garde Capital Inc. purchased a new stake in Verizon Communications in the 1st quarter worth approximately $26,000. Cherry Tree Wealth Management LLC grew its position in shares of Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after buying an additional 244 shares during the last quarter. 1 North Wealth Services LLC purchased a new position in shares of Verizon Communications during the first quarter valued at approximately $29,000. Finally, Accent Capital Management LLC bought a new position in shares of Verizon Communications during the first quarter valued at approximately $30,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

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).