Verizon Communications (NYSE:VZ) Shares Up 0%

Verizon Communications Inc. (NYSE:VZ)’s share price traded up 0% during trading on Thursday . The stock traded as high as $41.39 and last traded at $41.12. 6,653,911 shares were traded during mid-day trading, a decline of 59% from the average session volume of 16,298,411 shares. The stock had previously closed at $41.10.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Oppenheimer reissued an “outperform” rating and set a $48.00 price target on shares of Verizon Communications in a research report on Tuesday, April 23rd. Redburn Atlantic raised shares of Verizon Communications from a “sell” rating to a “neutral” rating and increased their price target for the stock from $33.00 to $39.00 in a research report on Friday, March 22nd. The Goldman Sachs Group started coverage on shares of Verizon Communications in a research report on Monday. They set a “buy” rating and a $50.00 price objective on the stock. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Finally, Tigress Financial lifted their target price on shares of Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.14.

Verizon Communications Stock Performance

The firm has a 50 day moving average price of $40.20 and a 200-day moving average price of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.71. The company has a market cap of $173.08 billion, a P/E ratio of 15.34, a P/E/G ratio of 3.73 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last announced its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The firm had revenue of $33 billion during the quarter, compared to analysts’ expectations of $33.23 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. The company’s revenue was up .3% on a year-over-year basis. On average, research analysts predict that Verizon Communications Inc. will post 4.59 EPS for the current year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date of this dividend is Wednesday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is 99.25%.

Institutional Investors Weigh In On Verizon Communications

Hedge funds have recently made changes to their positions in the company. Koesten Hirschmann & Crabtree INC. bought a new position in shares of Verizon Communications in the first quarter valued at approximately $25,000. LFA Lugano Financial Advisors SA increased its holdings in Verizon Communications by 627.8% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock valued at $25,000 after purchasing an additional 565 shares in the last quarter. Criterion Capital Advisors LLC bought a new position in Verizon Communications in the 4th quarter valued at $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in Verizon Communications in the fourth quarter worth $29,000. Finally, Morton Brown Family Wealth LLC boosted its stake in Verizon Communications by 130.1% in the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after purchasing an additional 488 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

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).