Verizon Communications (NYSE:VZ) Trading 1.8% Higher - What's Next?

Verizon Communications Inc. (NYSE:VZ - Get Free Report) shares shot up 1.8% on Wednesday . The stock traded as high as $43.98 and last traded at $43.74. 7,823,292 shares traded hands during trading, a decline of 61% from the average session volume of 20,075,178 shares. The stock had previously closed at $42.95.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Scotiabank increased their target price 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. Tigress Financial lifted their price objective on Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a report on Monday. Evercore ISI raised Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 target price on the stock in a report on Friday, April 11th. DZ Bank raised Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price target for the company in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $45.00 price objective (up from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.41.

Verizon Communications Price Performance

The company has a 50-day moving average of $43.66 and a two-hundred day moving average of $41.96. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. The stock has a market capitalization of $188.67 billion, a PE ratio of 10.62, a P/E/G ratio of 4.45 and a beta of 0.41.

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 (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 business had revenue of $33.50 billion for the quarter, compared to analysts' expectations of $33.31 billion. Sell-side analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.16%. The ex-dividend date is Thursday, April 10th. Verizon Communications's dividend payout ratio (DPR) is currently 64.52%.

Insider Activity at Verizon Communications

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now directly owns 14,459 shares of the company's stock, valued at $633,159.61. This trade represents a 40.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kyle Malady sold 8,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $39.88, for a total value of $319,040.00. Following the completion of the sale, the chief executive officer now owns 6,590 shares of the company's stock, valued at approximately $262,809.20. This trade represents a 54.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,000 shares of company stock worth $969,340. 0.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Verizon Communications

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bernard Wealth Management Corp. increased its stake in Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after buying an additional 243 shares during the period. 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 acquiring an additional 244 shares in the last quarter. Garde Capital Inc. acquired a new stake in shares of Verizon Communications during the 1st quarter valued at approximately $26,000. Mainstream Capital Management LLC bought a new position in Verizon Communications during the fourth quarter worth $28,000. Finally, Legend Financial Advisors Inc. boosted its holdings in Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier's stock worth $31,000 after purchasing an additional 320 shares during the period. Hedge funds and other institutional investors 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).

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