Verizon Communications Inc. (NYSE:VZ)‘s stock had its “hold” rating reaffirmed by analysts at Jefferies Group in a research report issued to clients and investors on Monday. They currently have a $53.00 price objective on the cell phone carrier’s stock. Jefferies Group’s price objective would indicate a potential upside of 0.86% from the stock’s previous close.

Several other equities analysts also recently weighed in on VZ. Vetr downgraded Verizon Communications from a “buy” rating to a “hold” rating and set a $52.38 target price on the stock. in a research report on Monday, January 2nd. Drexel Hamilton downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, January 6th. BTIG Research restated a “neutral” rating on shares of Verizon Communications in a research report on Thursday. Wells Fargo & Company restated an “outperform” rating on shares of Verizon Communications in a research report on Sunday, October 23rd. Finally, Citigroup Inc. restated a “neutral” rating and issued a $58.00 target price on shares of Verizon Communications in a research report on Sunday, October 23rd. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $54.19.

Analyst Recommendations for Verizon Communications (NYSE:VZ)

Verizon Communications (NYSE:VZ) opened at 52.55 on Monday. The company has a market cap of $214.23 billion, a P/E ratio of 15.32 and a beta of 0.40. The firm has a 50-day moving average price of $52.26 and a 200 day moving average price of $52.01. Verizon Communications has a 12 month low of $43.79 and a 12 month high of $56.95.

Verizon Communications (NYSE:VZ) last released its earnings results on Thursday, October 20th. The cell phone carrier reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.02. The business had revenue of $30.90 billion for the quarter, compared to the consensus estimate of $31.08 billion. Verizon Communications had a return on equity of 78.75% and a net margin of 10.97%. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 earnings per share. Equities research analysts predict that Verizon Communications will post $3.89 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Tuesday, January 10th will be paid a dividend of $0.5775 per share. This represents a $2.31 annualized dividend and a yield of 4.40%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Friday, January 6th. Verizon Communications’s payout ratio is presently 67.15%.

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In other Verizon Communications news, EVP Craig L. Silliman sold 672 shares of Verizon Communications stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $47.76, for a total transaction of $32,094.72. Following the completion of the sale, the executive vice president now directly owns 9,182 shares of the company’s stock, valued at approximately $438,532.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Craig L. Silliman sold 668 shares of Verizon Communications stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $49.29, for a total value of $32,925.72. Following the sale, the executive vice president now directly owns 6,047 shares of the company’s stock, valued at $298,056.63. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Guidant Wealth Advisors acquired a new stake in shares of Verizon Communications during the third quarter worth about $107,000. Solaris Asset Management LLC acquired a new stake in shares of Verizon Communications during the third quarter worth about $125,000. Lowe fs LLC increased its stake in shares of Verizon Communications by 3.0% in the third quarter. Lowe fs LLC now owns 2,426 shares of the cell phone carrier’s stock worth $126,000 after buying an additional 70 shares during the period. Taylor Wealth Management Partners increased its stake in shares of Verizon Communications by 15.2% in the second quarter. Taylor Wealth Management Partners now owns 2,275 shares of the cell phone carrier’s stock worth $127,000 after buying an additional 300 shares during the period. Finally, Ruggie Capital Group increased its stake in shares of Verizon Communications by 0.3% in the third quarter. Ruggie Capital Group now owns 2,649 shares of the cell phone carrier’s stock worth $137,000 after buying an additional 9 shares during the period. 62.28% of the stock is owned by institutional investors.

Verizon Communications Company Profile

Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.

5 Day Chart for NYSE:VZ

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