Verizon Communications (NYSE:VZ) Shares Up 0.3%

Verizon Communications Inc. (NYSE:VZ)’s stock price rose 0.3% on Friday . The company traded as high as $41.48 and last traded at $41.41. Approximately 2,502,325 shares traded hands during trading, a decline of 87% from the average daily volume of 18,605,193 shares. The stock had previously closed at $41.30.

Analysts Set New Price Targets

VZ has been the subject of a number of research reports. Redburn Atlantic upgraded shares of Verizon Communications from a “sell” rating to a “neutral” rating and increased their target price for the stock from $33.00 to $39.00 in a research report on Friday, March 22nd. Royal Bank of Canada increased their target price on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a research report on Monday, July 1st. They set a “buy” rating and a $50.00 target price for the company. Wells Fargo & Company cut their target price on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 23rd. Finally, Scotiabank increased their target price on shares of Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $45.23.

Verizon Communications Price Performance

The stock has a market capitalization of $174.39 billion, a PE ratio of 15.46, a P/E/G ratio of 3.76 and a beta of 0.41. The firm’s 50 day simple moving average is $40.47 and its 200 day simple moving average is $40.31. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.71 and a quick ratio of 0.67.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.12 by $0.03. The firm had revenue of $33 billion for the quarter, compared to the consensus estimate of $33.23 billion. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The business’s revenue was up .3% compared to the same quarter last year. During the same period last year, the firm posted $1.20 earnings per share. As a group, equities analysts forecast that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 6.42%. The ex-dividend date is Wednesday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 99.25%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Koesten Hirschmann & Crabtree INC. bought a new position in shares of Verizon Communications in the first quarter worth approximately $25,000. LFA Lugano Financial Advisors SA grew its holdings in shares of Verizon Communications by 627.8% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 565 shares during the last quarter. Criterion Capital Advisors LLC bought a new position in shares of Verizon Communications in the fourth quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Verizon Communications in the fourth quarter worth approximately $29,000. Finally, Morton Brown Family Wealth LLC grew its holdings in shares of 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 during the last quarter. 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).