Verizon Communications (NYSE:VZ) Shares Up 0.4%

Verizon Communications Inc. (NYSE:VZ)’s share price traded up 0.4% during mid-day trading on Tuesday . The company traded as high as $40.26 and last traded at $40.19. 2,440,736 shares were traded during trading, a decline of 87% from the average session volume of 18,784,627 shares. The stock had previously closed at $40.03.

Wall Street Analysts Forecast Growth

VZ has been the subject of a number of research reports. Scotiabank raised their price objective on Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research note on Wednesday, July 10th. StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Tigress Financial raised their price objective 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. Royal Bank of Canada restated a “sector perform” rating and set a $42.00 price target on shares of Verizon Communications in a research report on Tuesday, July 23rd. Finally, Wells Fargo & Company decreased their price objective on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.68.

Verizon Communications Price Performance

The firm’s 50-day moving average is $40.57 and its 200 day moving average is $40.46. The stock has a market cap of $168.51 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 3.65 and a beta of 0.41. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60.

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

Verizon Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.665 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $2.66 dividend on an annualized basis and a yield of 6.65%. Verizon Communications’s dividend payout ratio is currently 99.25%.

Institutional Investors Weigh In On Verizon Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Criterion Capital Advisors LLC bought a new stake in Verizon Communications during the fourth quarter worth about $25,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Verizon Communications in the first quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Verizon Communications during the 4th quarter worth approximately $29,000. Morton Brown Family Wealth LLC increased its stake in Verizon Communications by 130.1% in the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock valued at $33,000 after buying an additional 488 shares during the last quarter. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Verizon Communications during the 2nd quarter worth approximately $33,000. 62.06% of the stock is currently 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).