Verizon Communications (NYSE:VZ) Trading 1.1% Higher – Time to Buy?

Verizon Communications Inc. (NYSE:VZ)’s share price rose 1.1% on Tuesday . The stock traded as high as $44.17 and last traded at $44.13. Approximately 3,036,381 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 18,109,110 shares. The stock had previously closed at $43.65.

Wall Street Analysts Forecast Growth

VZ has been the subject of several analyst reports. Wolfe Research lowered shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, March 12th. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Wednesday, January 29th. UBS Group boosted their price objective on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. Finally, Scotiabank boosted their price objective on shares of Verizon Communications from $47.50 to $48.00 and gave the company a “sector perform” rating in a research report on Monday, March 3rd. Eleven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.11.

Verizon Communications Stock Performance

The business has a 50 day moving average price of $41.30 and a 200 day moving average price of $41.98. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. The stock has a market capitalization of $184.90 billion, a PE ratio of 10.61, a PEG ratio of 4.45 and a beta of 0.41.

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 quarter in the prior year, the company posted $1.08 earnings per share. As a group, equities research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.17%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s dividend payout ratio is currently 65.46%.

Insider Activity at Verizon Communications

In related news, EVP Vandana Venkatesh sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now owns 14,459 shares of the company’s stock, valued at approximately $633,159.61. This trade represents a 40.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kyle Malady sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $40.54, for a total transaction of $810,800.00. Following the sale, the chief executive officer now directly owns 45,675 shares of the company’s stock, valued at approximately $1,851,664.50. This represents a 30.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,085 shares of company stock valued at $2,020,895 over the last ninety days. Insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Verizon Communications

Several hedge funds and other institutional investors have recently modified their holdings of VZ. Swedbank AB boosted its position in shares of Verizon Communications by 0.8% in the third quarter. Swedbank AB now owns 5,174,541 shares of the cell phone carrier’s stock worth $232,389,000 after purchasing an additional 39,403 shares during the period. Prospera Financial Services Inc increased its stake in Verizon Communications by 29.4% in the 3rd quarter. Prospera Financial Services Inc now owns 149,156 shares of the cell phone carrier’s stock worth $6,700,000 after buying an additional 33,900 shares in the last quarter. Avior Wealth Management LLC raised its holdings in Verizon Communications by 21.0% during the third quarter. Avior Wealth Management LLC now owns 36,872 shares of the cell phone carrier’s stock valued at $1,665,000 after acquiring an additional 6,388 shares during the period. Premier Fund Managers Ltd bought a new position in shares of Verizon Communications in the third quarter worth about $8,122,000. Finally, Prospera Private Wealth LLC grew its position in shares of Verizon Communications by 15.7% during the third quarter. Prospera Private Wealth LLC now owns 47,999 shares of the cell phone carrier’s stock worth $2,156,000 after purchasing an additional 6,506 shares in the last quarter. 62.06% of the stock is currently 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).