Verizon Communications (NYSE:VZ) Shares Up 1.8% – Time to Buy?

Verizon Communications Inc. (NYSE:VZ) traded up 1.8% during mid-day trading on Tuesday . The company traded as high as $51.10 and last traded at $50.86. 30,892,541 shares traded hands during trading, a decline of 11% from the average session volume of 34,778,598 shares. The stock had previously closed at $49.98.

Analysts Set New Price Targets

VZ has been the subject of several analyst reports. Wells Fargo & Company boosted their price target on Verizon Communications from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $48.00 price objective on shares of Verizon Communications in a research report on Monday, February 2nd. Citigroup upped their target price on Verizon Communications from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. KeyCorp reissued a “sector weight” rating on shares of Verizon Communications in a research note on Monday, January 26th. Finally, Williams Trading set a $54.00 price target on Verizon Communications in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.02.

Verizon Communications Stock Up 1.8%

The stock has a fifty day moving average of $43.53 and a two-hundred day moving average of $42.40. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. The stock has a market cap of $214.51 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 2.10 and a beta of 0.30.

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

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be given a $0.7075 dividend. The ex-dividend date of this dividend is Friday, April 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.69. This represents a $2.83 annualized dividend and a dividend yield of 5.6%. Verizon Communications’s dividend payout ratio (DPR) is currently 68.15%.

Insiders Place Their Bets

In other Verizon Communications news, Director Hans Erik Vestberg sold 200,000 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $49.61, for a total value of $9,922,000.00. Following the completion of the sale, the director owned 145,069 shares of the company’s stock, valued at $7,196,873.09. This trade represents a 57.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mary-Lee Stillwell sold 8,569 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $50.00, for a total transaction of $428,450.00. Following the transaction, the senior vice president directly owned 43,782 shares in the company, valued at approximately $2,189,100. The trade was a 16.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 218,148 shares of company stock worth $10,780,356 in the last 90 days. 0.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Verizon Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Employees Provident Fund Board purchased a new position in Verizon Communications in the fourth quarter valued at about $3,503,000. S Harris Financial Group LLC acquired a new position in shares of Verizon Communications in the 4th quarter valued at approximately $273,000. EJMK Ventures LLC purchased a new position in shares of Verizon Communications during the 4th quarter valued at approximately $243,000. Tulsa Wealth Advisors INC acquired a new stake in shares of Verizon Communications during the fourth quarter worth approximately $3,846,000. Finally, Koenig Investment Advisory LLC acquired a new stake in shares of Verizon Communications during the fourth quarter worth approximately $1,106,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

About Verizon Communications

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.