Verizon Communications (NYSE:VZ) Trading 1.2% Higher – Time to Buy?

Verizon Communications Inc. (NYSE:VZ) shares were up 1.2% during mid-day trading on Wednesday . The stock traded as high as $41.63 and last traded at $41.69. Approximately 3,800,538 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 22,585,961 shares. The stock had previously closed at $41.20.

Wall Street Analyst Weigh In

Several analysts recently commented on VZ shares. StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 16th. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Wolfe Research upped their price objective on Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Scotiabank increased their price objective on Verizon Communications from $47.00 to $47.50 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Finally, Argus upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus target price of $46.08.

Verizon Communications Trading Up 0.7 %

The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The stock’s 50 day moving average price is $39.90 and its 200-day moving average price is $41.59. The stock has a market capitalization of $180.05 billion, a PE ratio of 10.33, a PEG ratio of 4.40 and a beta of 0.45.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (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 period in the previous year, the business posted $1.08 earnings per share. On average, sell-side analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued 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 6.34%. Verizon Communications’s dividend payout ratio is presently 65.46%.

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 8,000 shares of Verizon Communications stock in a transaction dated 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 directly owns 6,590 shares of the company’s stock, valued at approximately $262,809.20. The trade was a 54.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 39,085 shares of company stock valued at $1,582,995 in the last three months. 0.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Verizon Communications

Institutional investors have recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC increased its position in Verizon Communications by 27.7% in the fourth quarter. Foundations Investment Advisors LLC now owns 222,366 shares of the cell phone carrier’s stock worth $8,892,000 after purchasing an additional 48,294 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Verizon Communications in the 3rd quarter worth $3,376,000. Burney Co. increased its holdings in shares of Verizon Communications by 30.4% in the 4th quarter. Burney Co. now owns 186,621 shares of the cell phone carrier’s stock worth $7,463,000 after buying an additional 43,472 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Verizon Communications by 1,934.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,080,015 shares of the cell phone carrier’s stock worth $48,503,000 after buying an additional 1,026,930 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. purchased a new stake in shares of Verizon Communications during the 4th quarter valued at about $4,333,000. Hedge funds and other institutional investors 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).