Verizon Communications (NYSE:VZ) Trading Down 0.2%

Shares of Verizon Communications Inc. (NYSE:VZ) traded down 0.2% during mid-day trading on Tuesday . The stock traded as low as $44.77 and last traded at $44.80. 2,929,022 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 18,775,436 shares. The stock had previously closed at $44.91.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on VZ shares. Raymond James upped their price objective on shares of Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. KeyCorp cut their price objective on shares of Verizon Communications from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Friday, September 6th. Scotiabank lifted their target price on shares of Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a research report on Wednesday, July 10th. Tigress Financial boosted their price target on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a research note on Monday, July 1st. They issued a “buy” rating and a $50.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.26.

Verizon Communications Stock Up 0.6 %

The stock has a market cap of $190.13 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 4.03 and a beta of 0.42. The company’s fifty day moving average price is $41.88 and its 200-day moving average price is $40.99. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.60 and a current ratio of 0.63.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. The company had revenue of $32.80 billion for the quarter, compared to the consensus estimate of $33.05 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 EPS. Equities analysts forecast that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.678 per share. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.00%. Verizon Communications’s dividend payout ratio (DPR) is 101.12%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of VZ. Koesten Hirschmann & Crabtree INC. acquired a new stake in Verizon Communications in the 1st quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Verizon Communications during the 4th quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. acquired a new stake in Verizon Communications during the 2nd quarter valued at approximately $32,000. MFA Wealth Advisors LLC acquired a new stake in Verizon Communications during the 2nd quarter valued at approximately $33,000. Finally, Vima LLC acquired a new stake in Verizon Communications during the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

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).