Verizon Communications (NYSE:VZ) Sets New 52-Week High – Still a Buy?

Verizon Communications Inc. (NYSE:VZ) shares hit a new 52-week high on Tuesday . The company traded as high as $47.67 and last traded at $47.6850, with a volume of 14605642 shares trading hands. The stock had previously closed at $47.02.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on VZ shares. Wells Fargo & Company increased 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. William Blair raised shares of Verizon Communications to an “outperform” rating in a report on Monday, February 2nd. Evercore increased their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Morgan Stanley boosted their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday, February 2nd. Finally, BNP Paribas Exane lowered Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 price objective for the company. in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.02.

Verizon Communications Price Performance

The firm has a 50 day moving average of $41.00 and a 200-day moving average of $41.76. 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 company has a market cap of $200.73 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.95 and a beta of 0.33.

Verizon Communications (NYSE:VZ) last released 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. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. The firm had revenue of $36.38 billion for the quarter, compared to analysts’ expectations of $36.20 billion. During the same quarter last year, the business posted $1.10 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. On average, equities research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be paid a $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a yield of 5.9%. 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. Verizon Communications’s dividend payout ratio is presently 68.15%.

Insider Transactions at Verizon Communications

In other Verizon Communications news, EVP Joseph J. Russo sold 9,579 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $44.88, for a total transaction of $429,905.52. Following the completion of the transaction, the executive vice president owned 44,045 shares in the company, valued at $1,976,739.60. This trade represents a 17.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is currently owned by insiders.

Institutional Trading of Verizon Communications

Several hedge funds have recently made changes to their positions in VZ. Brighton Jones LLC increased its position in shares of Verizon Communications by 61.2% during the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after purchasing an additional 16,704 shares during the last quarter. Bill Few Associates Inc. boosted its stake in Verizon Communications by 1.2% during the second quarter. Bill Few Associates Inc. now owns 105,344 shares of the cell phone carrier’s stock worth $4,558,000 after buying an additional 1,204 shares during the period. Welch Group LLC raised its stake in shares of Verizon Communications by 0.9% in the second quarter. Welch Group LLC now owns 1,147,934 shares of the cell phone carrier’s stock valued at $49,671,000 after acquiring an additional 10,030 shares during the period. MGO One Seven LLC lifted its position in shares of Verizon Communications by 6.6% during the second quarter. MGO One Seven LLC now owns 71,217 shares of the cell phone carrier’s stock worth $3,082,000 after purchasing an additional 4,380 shares during the last quarter. Finally, Griffin Asset Management Inc. increased its stake in Verizon Communications by 0.8% in the 2nd quarter. Griffin Asset Management Inc. now owns 82,345 shares of the cell phone carrier’s stock worth $3,563,000 after buying an additional 640 shares during the period. 62.06% of the stock is currently 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.