Verizon Communications Sees Unusually High Options Volume (NYSE:VZ)

Verizon Communications Inc. (NYSE:VZ - Get Free Report) saw some unusual options trading activity on Wednesday. Stock traders purchased 134,923 call options on the stock. This is an increase of 81% compared to the typical volume of 74,522 call options.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Morgan Stanley began coverage on Verizon Communications in a research note on Thursday. They set an "equal weight" rating and a $47.00 price target on the stock. Scotiabank raised their target price on shares of Verizon Communications from $48.50 to $49.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 23rd. Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a research report on Tuesday. Royal Bank Of Canada reissued a "sector perform" rating and set a $45.00 price objective (up from $42.00) on shares of Verizon Communications in a report on Tuesday, March 25th. Finally, Tigress Financial boosted their price objective on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Eleven analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $47.00.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 9,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $44.10, for a total value of $396,900.00. Following the transaction, the chief executive officer owned 10,008 shares of the company's stock, valued at $441,352.80. This represents a 47.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 21,500 shares of company stock valued at $938,400. 0.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Verizon Communications

A number of institutional investors have recently modified their holdings of VZ. Sargent Investment Group LLC boosted its holdings in shares of Verizon Communications by 3.3% in the 1st quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier's stock valued at $323,000 after buying an additional 230 shares during the period. Crescent Sterling Ltd. lifted its stake in shares of Verizon Communications by 0.8% in the 1st quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier's stock worth $1,402,000 after acquiring an additional 235 shares during the period. Providence Capital Advisors LLC boosted its stake in Verizon Communications by 0.3% during the 1st quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier's stock valued at $3,637,000 after purchasing an additional 240 shares in the last quarter. Bernard Wealth Management Corp. boosted its stake in Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after buying an additional 243 shares in the last quarter. Finally, Wright Investors Service Inc. grew its stake in shares of Verizon Communications by 1.2% in the 2nd quarter. Wright Investors Service Inc. now owns 21,255 shares of the cell phone carrier's stock worth $920,000 after purchasing an additional 243 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Stock Down 1.0%

Shares of NYSE:VZ traded down $0.40 during mid-day trading on Friday, hitting $41.63. 20,156,157 shares of the company traded hands, compared to its average volume of 20,209,684. The firm's 50 day simple moving average is $43.14 and its 200 day simple moving average is $42.36. The firm has a market cap of $175.52 billion, a P/E ratio of 9.91, a PEG ratio of 3.37 and a beta of 0.37. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.58 and a current ratio of 0.61. Verizon Communications has a 52-week low of $37.59 and a 52-week high of $47.36.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $33.50 billion for the quarter, compared to the consensus estimate of $33.31 billion. Verizon Communications had a return on equity of 19.66% and a net margin of 13.14%. On average, equities analysts anticipate that Verizon Communications will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a yield of 6.51%. The ex-dividend date of this dividend is Thursday, July 10th. Verizon Communications's dividend payout ratio is currently 64.52%.

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).