Verizon Communications (NYSE:VZ) Sets New 12-Month High – Still a Buy?

Verizon Communications Inc. (NYSE:VZ) shares reached a new 52-week high during trading on Friday . The company traded as high as $51.67 and last traded at $51.1750, with a volume of 3371282 shares trading hands. The stock had previously closed at $50.63.

Analysts Set New Price Targets

Several brokerages have recently commented on VZ. Royal Bank Of Canada increased their price objective on Verizon Communications from $44.00 to $48.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 3rd. Williams Trading set a $54.00 target price on Verizon Communications in a research note on Monday, February 2nd. Wells Fargo & Company increased their price target on shares of Verizon Communications from $41.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, February 2nd. KeyCorp reaffirmed a “sector weight” rating on shares of Verizon Communications in a report on Monday, January 26th. Finally, Morgan Stanley boosted their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $50.03.

Verizon Communications Trading Up 1.4%

The stock has a market cap of $216.47 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 2.12 and a beta of 0.31. The stock has a 50-day moving average price of $45.19 and a two-hundred day moving average price of $42.78. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.87.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. The firm had revenue of $36.38 billion for the quarter, compared to the consensus estimate of $36.20 billion. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.10 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. Sell-side analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be issued a dividend of $0.7075 per share. The ex-dividend date of this dividend is Friday, April 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.69. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.5%. Verizon Communications’s payout ratio is currently 68.15%.

Insider Buying and Selling at Verizon Communications

In other news, EVP Joseph J. Russo sold 9,579 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $44.88, for a total value of $429,905.52. Following the transaction, the executive vice president directly owned 44,045 shares of the company’s stock, valued at approximately $1,976,739.60. This trade represents a 17.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Mary-Lee Stillwell sold 8,569 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $50.00, for a total transaction of $428,450.00. Following the sale, the senior vice president directly owned 43,782 shares of the company’s stock, valued at approximately $2,189,100. This represents a 16.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 218,148 shares of company stock worth $10,780,356. Corporate insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Verizon Communications

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. TruNorth Capital Management LLC increased its position in Verizon Communications by 95.3% in the 3rd quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock valued at $27,000 after acquiring an additional 305 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Verizon Communications in the third quarter valued at approximately $29,000. Strengthening Families & Communities LLC raised its stake in shares of Verizon Communications by 490.0% during the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 539 shares during the last quarter. Global Wealth Strategies & Associates grew its position in Verizon Communications by 739.5% in the 3rd quarter. Global Wealth Strategies & Associates now owns 680 shares of the cell phone carrier’s stock valued at $30,000 after buying an additional 599 shares during the last quarter. Finally, Holos Integrated Wealth LLC acquired a new position in Verizon Communications in the 4th quarter valued at $28,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Company Profile

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.