Verizon Communications (NYSE:VZ) Shares Down 1%

Verizon Communications Inc. (NYSE:VZ)’s share price was down 1% on Monday . The company traded as low as $41.00 and last traded at $41.03. Approximately 2,381,813 shares traded hands during trading, a decline of 87% from the average daily volume of 18,554,750 shares. The stock had previously closed at $41.43.

Wall Street Analyst Weigh In

A number of analysts have commented on VZ shares. Scotiabank upped their target price on shares of Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a report on Wednesday, July 10th. Wells Fargo & Company reduced 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 report on Tuesday, April 23rd. Redburn Atlantic raised shares of Verizon Communications from a “sell” rating to a “neutral” rating and upped their target price for the company from $33.00 to $39.00 in a report on Friday, March 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $48.00 target price on shares of Verizon Communications in a report on Tuesday, April 23rd. Finally, StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.23.

Verizon Communications Trading Up 1.6 %

The company has a debt-to-equity ratio of 1.42, a current ratio of 0.71 and a quick ratio of 0.67. The stock’s 50-day moving average is $40.54 and its two-hundred day moving average is $40.38. The stock has a market cap of $174.47 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 3.72 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last issued its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The firm had revenue of $33 billion during the quarter, compared to analyst estimates of $33.23 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. Verizon Communications’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts anticipate that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Announces Dividend

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

Hedge Funds Weigh In On Verizon Communications

Several institutional investors have recently bought and sold shares of the business. Fermata Advisors LLC increased its stake in shares of Verizon Communications by 5.0% during the second quarter. Fermata Advisors LLC now owns 5,383 shares of the cell phone carrier’s stock worth $222,000 after buying an additional 254 shares during the period. Private Portfolio Partners LLC increased its stake in shares of Verizon Communications by 0.9% during the fourth quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier’s stock worth $1,035,000 after buying an additional 255 shares during the period. BKM Wealth Management LLC increased its stake in Verizon Communications by 7.4% in the first quarter. BKM Wealth Management LLC now owns 3,715 shares of the cell phone carrier’s stock valued at $156,000 after purchasing an additional 257 shares during the last quarter. Horizon Bancorp Inc. IN increased its stake in Verizon Communications by 24.9% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock valued at $49,000 after purchasing an additional 258 shares during the last quarter. Finally, Princeton Global Asset Management LLC increased its stake in Verizon Communications by 2.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 10,961 shares of the cell phone carrier’s stock valued at $413,000 after purchasing an additional 260 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

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).