Verizon Communications (NYSE:VZ) Trading 3.1% Higher – Time to Buy?

Verizon Communications Inc. (NYSE:VZ)’s stock price rose 3.1% during trading on Friday . The company traded as high as $45.92 and last traded at $45.59. Approximately 12,525,163 shares traded hands during trading, a decline of 29% from the average daily volume of 17,727,100 shares. The stock had previously closed at $44.23.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Scotiabank upped their target price on Verizon Communications from $47.50 to $48.00 and gave the company a “sector perform” rating in a report on Monday. Argus upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. Royal Bank of Canada cut their price objective on shares of Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. Sanford C. Bernstein started coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 target price for the company. Finally, TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $46.11.

Verizon Communications Price Performance

The stock’s 50-day moving average price is $40.49 and its 200-day moving average price is $41.79. The company has a market capitalization of $193.25 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 4.45 and a beta of 0.45. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21.

Verizon Communications (NYSE:VZ) last released its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same quarter last year, the business posted $1.08 EPS. Equities research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.6775 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 annualized dividend and a dividend yield of 5.90%. Verizon Communications’s dividend payout ratio is presently 65.46%.

Insider Activity at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 20,000 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $40.54, for a total value of $810,800.00. Following the completion of the transaction, the chief executive officer now directly owns 45,675 shares in the company, valued at approximately $1,851,664.50. This trade represents a 30.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vandana Venkatesh sold 10,000 shares of the firm’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 value of $437,900.00. Following the sale, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at $633,159.61. This represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,085 shares of company stock valued at $2,020,895. 0.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Verizon Communications

A number of institutional investors have recently added to or reduced their stakes in the business. Mainstream Capital Management LLC bought a new position in shares of Verizon Communications in the fourth quarter worth approximately $28,000. Capital Performance Advisors LLP purchased a new stake in shares of Verizon Communications in the 3rd quarter worth approximately $31,000. Legend Financial Advisors Inc. boosted its stake in Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 320 shares in the last quarter. Capital A Wealth Management LLC purchased a new stake in shares of Verizon Communications during the fourth quarter valued at approximately $32,000. Finally, Graney & King LLC purchased a new position in Verizon Communications during the fourth quarter valued at $32,000. 62.06% of the stock is currently 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).