Verizon Communications (NYSE:VZ) Stock Price Down 1.6% – Time to Sell?

Verizon Communications Inc. (NYSE:VZ) shares were down 1.6% during trading on Wednesday . The stock traded as low as $49.17 and last traded at $49.3920. Approximately 28,017,339 shares traded hands during trading, a decline of 13% from the average daily volume of 32,194,717 shares. The stock had previously closed at $50.20.

Wall Street Analysts Forecast Growth

VZ has been the topic of a number of analyst reports. Citigroup upped their price target on Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Barclays lifted their price objective on Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Oppenheimer upped their target price on Verizon Communications from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. Wells Fargo & Company upped their target price on Verizon Communications from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. Finally, William Blair raised shares of Verizon Communications to an “outperform” rating in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $50.56.

Verizon Communications Trading Down 1.6%

The company has a market cap of $208.32 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 2.11 and a beta of 0.31. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32. The firm’s 50-day moving average price is $47.95 and its 200 day moving average price is $43.35.

Verizon Communications (NYSE:VZ) last released its earnings results on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share (EPS) for the quarter, beating 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 net margin of 12.43% and a return on equity of 19.03%. Verizon Communications’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.10 EPS. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. As a group, equities analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be issued a dividend of $0.7075 per share. This is an increase from Verizon Communications’s previous quarterly dividend of $0.69. This represents a $2.83 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Friday, April 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 68.15%.

Insider Transactions at Verizon Communications

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

Hedge Funds Weigh In On Verizon Communications

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

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.