Verizon Communications Target of Unusually High Options Trading (NYSE:VZ)

Verizon Communications Inc. (NYSE:VZ - Get Free Report) saw unusually large options trading on Wednesday. Traders acquired 134,923 call options on the company. This is an increase of approximately 81% compared to the typical volume of 74,522 call options.

Verizon Communications Trading Down 1.4%

Shares of VZ stock traded down $0.61 during mid-day trading on Thursday, reaching $42.00. 19,329,523 shares of the stock traded hands, compared to its average volume of 20,178,878. The company has a market cap of $177.07 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 3.42 and a beta of 0.37. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.19. The stock's fifty day simple moving average is $43.21 and its two-hundred day simple moving average is $42.33. Verizon Communications has a 1-year low of $37.59 and a 1-year high of $47.36.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share 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 analysts' expectations of $33.31 billion. Verizon Communications had a return on equity of 19.66% and a net margin of 13.14%. On average, research analysts anticipate that Verizon Communications will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders 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 dividend yield of 6.45%. The ex-dividend date of this dividend is Thursday, July 10th. Verizon Communications's dividend payout ratio (DPR) is currently 64.52%.

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 9,000 shares of Verizon Communications stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $44.10, for a total transaction of $396,900.00. Following the completion of the sale, the chief executive officer owned 10,008 shares of the company's stock, valued at approximately $441,352.80. This trade represents a 47.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 21,500 shares of company stock worth $938,400 over the last three months. 0.10% of the stock is currently owned by company insiders.

Institutional Trading of Verizon Communications

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bernard Wealth Management Corp. lifted 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 acquiring an additional 243 shares during the period. Garde Capital Inc. acquired a new position in shares of Verizon Communications in the first quarter worth approximately $26,000. Cherry Tree Wealth Management LLC lifted its stake in shares of Verizon Communications by 71.8% in the first 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 during the period. Bulwark Capital Corp acquired a new position in shares of Verizon Communications in the second quarter worth approximately $25,000. Finally, 1 North Wealth Services LLC acquired a new position in shares of Verizon Communications in the first quarter worth approximately $29,000. 62.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada reissued a "sector perform" rating and set a $45.00 target price (up previously from $42.00) on shares of Verizon Communications in a report on Tuesday, March 25th. Wolfe Research cut Verizon Communications from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, March 12th. Bank of America initiated coverage on Verizon Communications in a research report on Monday. They issued a "neutral" rating and a $45.00 price target on the stock. Wall Street Zen cut Verizon Communications from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 13th. Finally, Evercore ISI upgraded Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price target on the stock in a research report on Friday, April 11th. Eleven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.00.

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).