Verizon Communications (NYSE:VZ) Stock Price Down 0.4% – What’s Next?

Verizon Communications Inc. (NYSE:VZ) fell 0.4% during mid-day trading on Tuesday . The stock traded as low as $39.60 and last traded at $39.84. 3,303,830 shares changed hands during trading, a decline of 87% from the average session volume of 25,561,648 shares. The stock had previously closed at $39.98.

Wall Street Analyst Weigh In

Several analysts recently commented on VZ shares. Argus upgraded Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft raised their price target on Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a report on Friday, January 24th. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Scotiabank increased their price objective on shares of Verizon Communications from $47.00 to $47.50 and gave the company a “sector perform” rating in a report on Monday, January 27th. Finally, Sanford C. Bernstein started coverage on Verizon Communications in a report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 target price on the stock. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $46.08.

Verizon Communications Trading Down 0.5 %

The company has a fifty day simple moving average of $40.36 and a two-hundred day simple moving average of $41.53. The company has a market capitalization of $168.16 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 4.11 and a beta of 0.45. 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) last issued its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same period in the prior year, the company earned $1.08 earnings per share. On average, analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a $0.6775 dividend. The ex-dividend date was Friday, January 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.78%. Verizon Communications’s payout ratio is presently 65.46%.

Insider Buying and Selling

In other Verizon Communications news, CEO Kyle Malady sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $39.88, for a total value of $319,040.00. Following the sale, the chief executive officer now owns 6,590 shares of the company’s stock, valued at $262,809.20. This trade represents a 54.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 39,085 shares of company stock worth $1,582,995 in the last quarter. 0.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Verizon Communications

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Verizon Communications by 7.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 108,694,230 shares of the cell phone carrier’s stock worth $4,346,682,000 after purchasing an additional 7,421,148 shares during the period. Geode Capital Management LLC raised its holdings in Verizon Communications by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 95,824,245 shares of the cell phone carrier’s stock valued at $4,289,054,000 after acquiring an additional 2,081,241 shares in the last quarter. FMR LLC lifted its position in shares of Verizon Communications by 2.0% in the 3rd quarter. FMR LLC now owns 29,074,297 shares of the cell phone carrier’s stock worth $1,305,727,000 after acquiring an additional 565,842 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Verizon Communications during the 4th quarter worth approximately $1,083,337,000. Finally, Parnassus Investments LLC increased its position in shares of Verizon Communications by 2.8% during the third quarter. Parnassus Investments LLC now owns 18,161,563 shares of the cell phone carrier’s stock valued at $815,636,000 after purchasing an additional 502,949 shares during the period. 62.06% of the stock is owned by institutional investors.

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).