Analysts Set Verizon Communications Inc. (NYSE:VZ) Target Price at $46.71

Shares of Verizon Communications Inc. (NYSE:VZ) have earned an average rating of “Moderate Buy” from the eighteen analysts that are covering the company, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $46.82.

A number of research firms recently commented on VZ. Oppenheimer boosted their price target on Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $45.00 target price (up from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Tigress Financial reiterated a “buy” rating and issued a $55.00 price target on shares of Verizon Communications in a research note on Thursday, January 30th. Finally, Argus upgraded Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th.

Verizon Communications Stock Performance

VZ opened at $43.11 on Monday. The company has a 50 day simple moving average of $42.68 and a two-hundred day simple moving average of $42.09. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. The firm has a market cap of $181.47 billion, a P/E ratio of 10.41, a PEG ratio of 4.45 and a beta of 0.41. Verizon Communications has a 1-year low of $37.59 and a 1-year high of $47.36.

Verizon Communications (NYSE:VZ) last issued its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the company posted $1.08 earnings per share. Equities analysts forecast that Verizon Communications will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 annualized dividend and a dividend yield of 6.29%. Verizon Communications’s dividend payout ratio (DPR) is presently 65.46%.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 20,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $40.54, for a total transaction of $810,800.00. Following the completion of the transaction, the chief executive officer now owns 45,675 shares in the company, valued at $1,851,664.50. The trade was a 30.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the completion of the sale, the executive vice president now owns 14,459 shares in the company, valued at approximately $633,159.61. The trade was a 40.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,085 shares of company stock worth $2,020,895. Insiders own 0.03% of the company’s stock.

Institutional Investors Weigh In On Verizon Communications

Large investors have recently added to or reduced their stakes in the stock. Fred Alger Management LLC lifted its holdings in shares of Verizon Communications by 2.9% in the 3rd quarter. Fred Alger Management LLC now owns 124,094 shares of the cell phone carrier’s stock worth $5,573,000 after buying an additional 3,520 shares during the period. Encompass More Asset Management bought a new stake in shares of Verizon Communications in the 3rd quarter valued at about $251,000. Tradition Wealth Management LLC lifted its position in shares of Verizon Communications by 1.9% in the 3rd quarter. Tradition Wealth Management LLC now owns 28,698 shares of the cell phone carrier’s stock worth $1,289,000 after purchasing an additional 525 shares during the period. Cobblestone Capital Advisors LLC NY boosted its stake in shares of Verizon Communications by 6.8% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 9,123 shares of the cell phone carrier’s stock valued at $410,000 after purchasing an additional 580 shares in the last quarter. Finally, Semmax Financial Advisors Inc. increased its holdings in Verizon Communications by 1.0% during the third quarter. Semmax Financial Advisors Inc. now owns 55,480 shares of the cell phone carrier’s stock valued at $2,492,000 after buying an additional 554 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

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).