Verizon Communications (NYSE:VZ) Trading 0.1% Higher – What’s Next?

Shares of Verizon Communications Inc. (NYSE:VZ) were up 0.1% on Tuesday . The stock traded as high as $41.07 and last traded at $41.02. Approximately 3,952,263 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 22,796,217 shares. The stock had previously closed at $40.99.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on VZ shares. StockNews.com cut Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 16th. Argus raised Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. KeyCorp downgraded shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, Wolfe Research increased their target price on shares of Verizon Communications from $50.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $46.08.

Verizon Communications Price Performance

The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $173.49 billion, a PE ratio of 9.95, a PEG ratio of 4.17 and a beta of 0.45. The business has a fifty day moving average price of $39.91 and a 200-day moving average price of $41.58.

Verizon Communications (NYSE:VZ) last issued its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the previous year, the business posted $1.08 earnings per share. Research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date was Friday, January 10th. Verizon Communications’s payout ratio is presently 65.46%.

Insider Activity

In related news, CEO Kyle Malady sold 8,000 shares of Verizon Communications stock in a transaction on Monday, February 3rd. The shares were 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 in the company, valued at $262,809.20. The trade was a 54.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders sold 39,085 shares of company stock valued at $1,582,995. Insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Verizon Communications

Several institutional investors and hedge funds have recently modified their holdings of VZ. Mainstream Capital Management LLC bought a new stake in Verizon Communications during the 4th quarter valued at approximately $28,000. Capital Performance Advisors LLP purchased a new position in shares of Verizon Communications in the 3rd quarter valued at approximately $31,000. Legend Financial Advisors Inc. boosted its position in shares of Verizon Communications by 69.6% during the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 320 shares in the last quarter. Graney & King LLC purchased a new stake in Verizon Communications in the fourth quarter worth $32,000. Finally, Compass Financial Services Inc bought a new position in Verizon Communications in the fourth quarter worth $33,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

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).