Verizon Communications (NYSE:VZ) Trading Up 0.5% - Here's Why

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s stock price traded up 0.5% during mid-day trading on Friday . The stock traded as high as $43.70 and last traded at $43.68. 3,314,553 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 24,145,705 shares. The stock had previously closed at $43.48.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VZ. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $45.00 price objective (up from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft boosted their target price on Verizon Communications from $40.00 to $42.00 and gave the company a "hold" rating in a research report on Friday, January 24th. DZ Bank raised Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price objective on the stock in a research report on Wednesday, January 29th. Wolfe Research downgraded Verizon Communications from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, March 12th. Finally, Argus upgraded Verizon Communications to a "strong-buy" rating in a report on Monday, January 27th. 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $47.41.

Verizon Communications Trading Up 1.0%

The company has a market cap of $185.20 billion, a P/E ratio of 10.61, a PEG ratio of 4.45 and a beta of 0.39. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The firm's 50 day moving average is $43.57 and its two-hundred day moving average is $42.01.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $33.50 billion for the quarter, compared to analysts' expectations of $33.31 billion. Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. As a group, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date was Thursday, April 10th. Verizon Communications's dividend payout ratio (DPR) is presently 64.52%.

Insider Activity at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 7,500 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $43.88, for a total transaction of $329,100.00. Following the completion of the transaction, the chief executive officer now owns 19,008 shares in the company, valued at $834,071.04. This trade represents a 28.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 14,459 shares of the company's stock, valued at $633,159.61. This trade represents a 40.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,500 shares of company stock worth $1,376,300 over the last 90 days. 0.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Verizon Communications

Several institutional investors have recently made changes to their positions in the company. Foundations Investment Advisors LLC increased its stake in Verizon Communications by 27.7% in the 4th quarter. Foundations Investment Advisors LLC now owns 222,366 shares of the cell phone carrier's stock worth $8,892,000 after buying an additional 48,294 shares during the period. Roffman Miller Associates Inc. PA increased its position in Verizon Communications by 1.8% during the 4th quarter. Roffman Miller Associates Inc. PA now owns 382,678 shares of the cell phone carrier's stock valued at $15,303,000 after purchasing an additional 6,795 shares during the period. Global Wealth Management Investment Advisory Inc. purchased a new position in Verizon Communications during the 4th quarter valued at about $4,333,000. Private Advisor Group LLC increased its position in Verizon Communications by 64.6% during the 4th quarter. Private Advisor Group LLC now owns 1,394,921 shares of the cell phone carrier's stock valued at $55,783,000 after purchasing an additional 547,384 shares during the period. Finally, Axis Wealth Partners LLC purchased a new position in Verizon Communications during the 4th quarter valued at about $1,200,000. 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).

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