Traders Purchase Large Volume of Verizon Communications Call Options (NYSE:VZ)

Verizon Communications Inc. (NYSE:VZ) was the recipient of unusually large options trading on Wednesday. Investors bought 576,732 call options on the company. This represents an increase of approximately 1,050% compared to the average volume of 50,160 call options.

Verizon Communications Stock Performance

Verizon Communications stock opened at $44.13 on Thursday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.60 and a current ratio of 0.63. Verizon Communications has a fifty-two week low of $30.62 and a fifty-two week high of $45.36. The stock has a fifty day moving average of $42.44 and a two-hundred day moving average of $41.18. The company has a market capitalization of $185.75 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 4.03 and a beta of 0.42.

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

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.678 dividend. The ex-dividend date is Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.15%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio (DPR) is 101.12%.

Analyst Upgrades and Downgrades

VZ has been the subject of a number of research analyst reports. KeyCorp lowered their price objective on shares of Verizon Communications from $46.00 to $44.00 and set an “overweight” rating for the company in a research report on Friday, September 6th. Royal Bank of Canada raised their target price on Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a report on Monday, September 23rd. Citigroup lifted their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Raymond James boosted their target price on Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Finally, Tigress Financial lifted their price objective on Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.26.

Institutional Trading of Verizon Communications

Several large investors have recently bought and sold shares of VZ. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Verizon Communications in the first quarter worth $25,000. Mizuho Securities Co. Ltd. acquired a new position in Verizon Communications in the second quarter worth about $32,000. MFA Wealth Advisors LLC acquired a new stake in Verizon Communications during the second quarter valued at approximately $33,000. Vima LLC acquired a new stake in shares of Verizon Communications during the 4th quarter valued at approximately $36,000. Finally, Pittenger & Anderson Inc. boosted its holdings in shares of Verizon Communications by 50.4% in the 1st quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock valued at $37,000 after buying an additional 296 shares during the period. Institutional investors and hedge funds 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).