Verizon Communications (NYSE:VZ) Upgraded at DZ Bank

Verizon Communications (NYSE:VZ) was upgraded by equities research analysts at DZ Bank from a “hold” rating to a “buy” rating in a report released on Wednesday, Marketbeat Ratings reports. The brokerage presently has a $40.00 target price on the cell phone carrier’s stock. DZ Bank’s price target would indicate a potential upside of 1.36% from the company’s previous close.

A number of other equities analysts have also recently issued reports on VZ. Sanford C. Bernstein assumed coverage on Verizon Communications in a report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective for the company. KeyCorp lowered Verizon Communications from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Royal Bank of Canada decreased their price target on shares of Verizon Communications from $46.00 to $42.00 in a research note on Friday, January 24th. Wolfe Research upped their price objective on shares of Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, UBS Group lifted their target price on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and an average price target of $46.08.

Verizon Communications Trading Down 2.0 %

Shares of VZ opened at $39.47 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62. Verizon Communications has a 1-year low of $37.58 and a 1-year high of $45.36. The company has a market capitalization of $166.13 billion, a P/E ratio of 17.01, a P/E/G ratio of 3.27 and a beta of 0.46. The firm’s 50 day simple moving average is $40.75 and its 200 day simple moving average is $41.60.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. During the same quarter in the previous year, the firm posted $1.08 EPS. Sell-side analysts forecast that Verizon Communications will post 4.59 earnings per share for the current fiscal year.

Insider Activity at Verizon Communications

In other news, CEO Kyle Malady sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $40.54, for a total value of $810,800.00. Following the completion of the transaction, the chief executive officer now owns 45,675 shares in the company, valued at $1,851,664.50. This trade represents a 30.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Verizon Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VZ. Capital Performance Advisors LLP purchased a new position in shares of Verizon Communications during the third quarter valued at approximately $31,000. Legend Financial Advisors Inc. raised its stake in Verizon Communications by 69.6% during the fourth 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 last quarter. Compass Financial Services Inc purchased a new position in Verizon Communications during the fourth quarter valued at $33,000. Accordant Advisory Group Inc boosted its holdings in Verizon Communications by 137.6% in the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock worth $35,000 after acquiring an additional 450 shares in the last quarter. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Verizon Communications in the fourth quarter worth $38,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

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).