Verizon Communications (NYSE:VZ) Trading Down 0.7% - Should You Sell?

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s stock price traded down 0.7% on Wednesday . The stock traded as low as $42.40 and last traded at $42.36. 4,526,006 shares traded hands during trading, a decline of 81% from the average session volume of 24,302,779 shares. The stock had previously closed at $42.65.

Analyst Ratings Changes

VZ has been the subject of a number of recent analyst reports. Argus upgraded shares of Verizon Communications to a "strong-buy" rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft increased their price target on Verizon Communications from $40.00 to $42.00 and gave the stock a "hold" rating in a research note on Friday, January 24th. Evercore ISI upgraded Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price objective on the stock in a research report on Friday, April 11th. Tigress Financial upped their price objective on Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Finally, Oppenheimer lifted their target price on Verizon Communications from $48.00 to $50.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.41.

Verizon Communications Price Performance

The company has a market cap of $184.02 billion, a P/E ratio of 10.54, a PEG ratio of 4.45 and a beta of 0.39. The firm's 50-day moving average is $43.57 and its two-hundred day moving average is $42.01. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates 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. Analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.21%. The ex-dividend date of this dividend was Thursday, April 10th. Verizon Communications's payout ratio is 64.52%.

Insider Transactions at Verizon Communications

In other news, EVP Vandana Venkatesh sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following the transaction, the executive vice president now owns 14,459 shares of the company's stock, valued at approximately $633,159.61. This represents a 40.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kyle Malady sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $42.48, for a total value of $212,400.00. Following the sale, the chief executive officer now directly owns 36,508 shares of the company's stock, valued at $1,550,859.84. This represents a 12.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,500 shares of company stock worth $1,376,300. 0.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Verizon Communications

Large investors have recently bought and sold shares of the business. Bernard Wealth Management Corp. boosted its holdings 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 valued at $25,000 after purchasing an additional 243 shares during the period. Cherry Tree Wealth Management LLC lifted its holdings 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 period. Garde Capital Inc. bought a new position in shares of Verizon Communications during the 1st quarter worth $26,000. Mainstream Capital Management LLC bought a new stake in shares of Verizon Communications in the fourth quarter valued at about $28,000. Finally, 1 North Wealth Services LLC purchased a new position in Verizon Communications during the 1st quarter valued at about $29,000. 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).