Verizon Communications (NYSE:VZ) Shares Down 0.4%

Shares of Verizon Communications Inc. (NYSE:VZ) dropped 0.4% during mid-day trading on Monday . The stock traded as low as $41.53 and last traded at $41.80. Approximately 3,618,272 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 20,071,393 shares. The stock had previously closed at $41.96.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Citigroup increased their target price on shares of Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Wolfe Research raised shares of Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a report on Thursday, January 4th. KeyCorp increased their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Finally, Wells Fargo & Company increased their target price on shares of Verizon Communications from $40.00 to $44.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Verizon Communications presently has an average rating of “Moderate Buy” and an average price target of $44.50.

Verizon Communications Trading Up 0.7 %

The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.65 and a current ratio of 0.69. The company has a market cap of $180.11 billion, a price-to-earnings ratio of 15.49, a P/E/G ratio of 3.43 and a beta of 0.41. The company’s fifty day moving average is $40.74 and its two-hundred day moving average is $37.60.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, meeting the consensus estimate of $1.08. The firm had revenue of $35.10 billion for the quarter, compared to analysts’ expectations of $34.60 billion. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 EPS. On average, research analysts anticipate that Verizon Communications Inc. will post 4.61 EPS for the current year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 6.21%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s payout ratio is currently 96.38%.

Insider Activity

In other news, CEO Kyle Malady sold 24,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total value of $979,200.00. Following the completion of the transaction, the chief executive officer now owns 35,201 shares in the company, valued at $1,436,200.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.03% of the company’s stock.

Institutional Investors Weigh In On Verizon Communications

Several hedge funds and other institutional investors have recently bought and sold shares of the business. LFA Lugano Financial Advisors SA lifted its holdings in shares of Verizon Communications by 627.8% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock valued at $25,000 after buying an additional 565 shares during the period. Criterion Capital Advisors LLC bought a new stake in Verizon Communications during the 4th quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Verizon Communications in the 4th quarter worth approximately $29,000. CGC Financial Services LLC acquired a new stake in Verizon Communications during the 2nd quarter valued at $32,000. Finally, Morton Brown Family Wealth LLC boosted its position in Verizon Communications by 130.1% in the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock valued at $33,000 after buying an additional 488 shares during the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).