Verizon Communications (NYSE:VZ) Trading Down 0.2% – What’s Next?

Verizon Communications Inc. (NYSE:VZ) fell 0.2% during mid-day trading on Monday . The company traded as low as $43.62 and last traded at $43.89. 3,849,933 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 18,292,329 shares. The stock had previously closed at $43.99.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised their price target on Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Sanford C. Bernstein initiated coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective for the company. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, UBS Group upped their price target on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus target price of $46.53.

Verizon Communications Trading Down 0.3 %

The company has a 50 day moving average of $41.52 and a two-hundred day moving average of $42.01. The stock has a market capitalization of $184.66 billion, a PE ratio of 10.60, a P/E/G ratio of 4.45 and a beta of 0.41. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same period in the previous year, the business posted $1.08 EPS. Sell-side analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.6775 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.18%. Verizon Communications’s dividend payout ratio is currently 65.46%.

Insider Activity

In related news, CEO Kyle Malady sold 8,000 shares of Verizon Communications stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.88, for a total transaction of $319,040.00. Following the completion of the sale, the chief executive officer now owns 6,590 shares of the company’s stock, valued at $262,809.20. The trade was a 54.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following the completion of the transaction, the executive vice president now owns 14,459 shares in the company, valued at approximately $633,159.61. This trade represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,085 shares of company stock valued at $2,020,895 over the last ninety days. 0.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mainstream Capital Management LLC purchased a new position in shares of Verizon Communications during the 4th quarter valued at about $28,000. Legend Financial Advisors Inc. grew its holdings in Verizon Communications by 69.6% during the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after acquiring an additional 320 shares during the period. Mattson Financial Services LLC raised its position in Verizon Communications by 114.6% during the fourth quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock valued at $31,000 after acquiring an additional 415 shares in the last quarter. Graney & King LLC acquired a new position in Verizon Communications in the fourth quarter valued at approximately $32,000. Finally, Capital A Wealth Management LLC purchased a new stake in Verizon Communications in the 4th quarter worth approximately $32,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

About Verizon Communications

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).