Verizon Communications (NYSE:VZ) Shares Up 0.5%

Verizon Communications Inc. (NYSE:VZ)’s share price was up 0.5% during trading on Friday . The company traded as high as $41.10 and last traded at $41.06. Approximately 1,832,027 shares changed hands during trading, a decline of 90% from the average daily volume of 18,423,215 shares. The stock had previously closed at $40.87.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. TD Cowen increased their price objective on shares of Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $42.00 price target on shares of Verizon Communications in a research note on Tuesday, July 23rd. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. JPMorgan Chase & Co. dropped their target price on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Finally, Tigress Financial boosted their price target on shares of Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.78.

Verizon Communications Stock Up 0.8 %

The company has a market capitalization of $173.46 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 3.72 and a beta of 0.41. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.60 and a current ratio of 0.63. The business has a 50-day simple moving average of $40.71 and a two-hundred day simple moving average of $40.43.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. The firm had revenue of $32.80 billion during the quarter, compared to the consensus estimate of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the company earned $1.21 earnings per share. As a group, equities analysts predict that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.66 annualized dividend and a yield of 6.45%. Verizon Communications’s dividend payout ratio is currently 99.25%.

Institutional Trading of Verizon Communications

Several hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC grew its holdings in shares of Verizon Communications by 3.0% in the 4th quarter. International Assets Investment Management LLC now owns 105,433 shares of the cell phone carrier’s stock worth $3,975,000 after acquiring an additional 3,054 shares during the period. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new stake in Verizon Communications in the fourth quarter valued at $749,000. Meritage Portfolio Management purchased a new position in shares of Verizon Communications in the fourth quarter valued at $287,000. Syon Capital LLC acquired a new position in shares of Verizon Communications during the 4th quarter worth $368,000. Finally, K.J. Harrison & Partners Inc purchased a new stake in shares of Verizon Communications in the 4th quarter worth about $377,000. 62.06% of the stock is owned by institutional investors and hedge funds.

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).