Verizon Communications (NYSE:VZ) Trading 1.2% Higher – Here’s Why

Verizon Communications Inc. (NYSE:VZ)’s stock price rose 1.2% during trading on Monday . The company traded as high as $47.81 and last traded at $47.3510. 22,996,561 shares changed hands during trading, a decline of 21% from the average daily volume of 29,195,646 shares. The stock had previously closed at $46.81.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Verizon Communications from $49.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Scotiabank lifted their price objective on Verizon Communications from $51.50 to $52.50 and gave the company a “sector outperform” rating in a report on Monday, July 27th. Morgan Stanley upped their price objective on Verizon Communications from $50.00 to $52.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Wells Fargo & Company raised their target price on Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Finally, Barclays boosted their price target on Verizon Communications from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, Verizon Communications currently has an average rating of “Hold” and an average price target of $50.84.

Verizon Communications Stock Up 1.2%

The firm has a market cap of $197.72 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.30 and a beta of 0.25. The business’s 50-day moving average is $45.32 and its 200-day moving average is $46.49. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.57 and a current ratio of 0.60.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. The firm had revenue of $34.25 billion for the quarter, compared to analyst estimates of $35.16 billion. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, equities analysts predict that Verizon Communications Inc. will post 5.03 EPS for the current year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a $0.7075 dividend. This represents a $2.83 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Friday, July 10th. Verizon Communications’s payout ratio is presently 73.70%.

Institutional Investors Weigh In On Verizon Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in shares of Verizon Communications by 61.2% during the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock worth $1,759,000 after purchasing an additional 16,704 shares during the last quarter. United Bank lifted its position in Verizon Communications by 11.5% during the 2nd quarter. United Bank now owns 7,843 shares of the cell phone carrier’s stock worth $339,000 after buying an additional 806 shares in the last quarter. Jump Financial LLC lifted its position in Verizon Communications by 312.0% during the 2nd quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier’s stock worth $1,023,000 after buying an additional 17,901 shares in the last quarter. HUB Investment Partners LLC grew its holdings in Verizon Communications by 17.2% during the 2nd quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier’s stock worth $1,779,000 after acquiring an additional 6,034 shares during the last quarter. Finally, Vivaldi Capital Management LP grew its holdings in Verizon Communications by 5.2% during the 2nd quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier’s stock worth $389,000 after acquiring an additional 443 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

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.