Verizon Communications (NYSE:VZ) Stock Price Up 1.6% – Time to Buy?

Shares of Verizon Communications Inc. (NYSE:VZ) traded up 1.6% during trading on Friday . The stock traded as high as $43.90 and last traded at $43.59. 7,133,410 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 20,031,865 shares. The stock had previously closed at $42.92.

Analyst Upgrades and Downgrades

Several research firms have commented on VZ. Tigress Financial restated a “buy” rating and issued a $55.00 price target on shares of Verizon Communications in a research note on Thursday, January 30th. Royal Bank of Canada restated a “sector perform” rating and set a $45.00 price target (up previously from $42.00) on shares of Verizon Communications in a report on Tuesday, March 25th. Argus upgraded Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. Wolfe Research lowered shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, March 12th. Finally, Evercore ISI upgraded shares of Verizon Communications from an “in-line” rating to an “outperform” rating and set a $48.00 price target for the company in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $46.92.

Verizon Communications Stock Performance

The company has a market cap of $183.88 billion, a PE ratio of 10.55, a PEG ratio of 4.45 and a beta of 0.41. The stock has a 50 day simple moving average of $43.06 and a two-hundred day simple moving average of $42.04. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59.

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 quarter last year, the firm posted $1.08 EPS. Equities 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. Investors of record on Thursday, April 10th will be given a $0.6775 dividend. This represents a $2.71 annualized dividend and a yield of 6.20%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 65.46%.

Insiders Place Their Bets

In other news, CEO Kyle Malady sold 20,000 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $40.54, for a total value of $810,800.00. Following the completion of the sale, the chief executive officer now owns 45,675 shares in the company, valued at approximately $1,851,664.50. This trade represents a 30.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,085 shares of company stock valued at $2,020,895. 0.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mainstream Capital Management LLC purchased a new stake in shares of Verizon Communications during the 4th quarter worth $28,000. Legend Financial Advisors Inc. lifted its stake in shares of Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 320 shares during the period. Mattson Financial Services LLC boosted its holdings 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 worth $31,000 after buying an additional 415 shares in the last quarter. Graney & King LLC acquired a new position in Verizon Communications during the fourth quarter worth about $32,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Verizon Communications during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

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).