Verizon Communications (NYSE:VZ) Shares Down 3.6% – Time to Sell?

Verizon Communications Inc. (NYSE:VZ)’s stock price fell 3.6% during trading on Wednesday . The company traded as low as $41.17 and last traded at $41.86. 16,867,488 shares were traded during mid-day trading, a decline of 7% from the average session volume of 18,118,731 shares. The stock had previously closed at $43.43.

Wall Street Analyst Weigh In

VZ has been the topic of a number of research analyst reports. Tigress Financial reissued a “buy” rating and issued a $55.00 target price on shares of Verizon Communications in a research note on Thursday, January 30th. Royal Bank of Canada reduced their price target on Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, January 24th. TD Cowen raised Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, Wolfe Research downgraded shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.11.

Verizon Communications Stock Down 1.7 %

The company has a 50-day moving average of $40.82 and a two-hundred day moving average of $41.89. 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 company has a market capitalization of $179.80 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last released its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share 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 in the previous year, the company earned $1.08 earnings per share. On average, research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.6775 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.34%. Verizon Communications’s payout ratio is 65.46%.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 11,085 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total value of $453,154.80. Following the transaction, the chief executive officer now owns 14,590 shares in the company, valued at $596,439.20. The trade was a 43.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total transaction of $437,900.00. Following the sale, the executive vice president now owns 14,459 shares of the company’s stock, valued at approximately $633,159.61. This represents a 40.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,085 shares of company stock valued at $2,020,895 in the last ninety days. 0.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Verizon Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mainstream Capital Management LLC purchased a new position in shares of Verizon Communications during the fourth quarter valued at approximately $28,000. Capital Performance Advisors LLP bought a new stake in Verizon Communications in the 3rd quarter worth approximately $31,000. Mattson Financial Services LLC raised its stake in Verizon Communications by 114.6% during the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock valued at $31,000 after buying an additional 415 shares during the last quarter. Legend Financial Advisors Inc. lifted its holdings in shares of Verizon Communications by 69.6% during the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after buying an additional 320 shares during the period. Finally, Capital A Wealth Management LLC purchased a new position in shares of Verizon Communications in the 4th quarter worth $32,000. 62.06% of the stock is owned by 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).