Verizon Communications (NYSE:VZ) Shares Up 0% – What’s Next?

Verizon Communications Inc. (NYSE:VZ)’s share price shot up 0% on Wednesday . The company traded as high as $44.06 and last traded at $44.02. 2,490,324 shares were traded during trading, a decline of 87% from the average session volume of 18,608,012 shares. The stock had previously closed at $44.01.

Analyst Ratings Changes

VZ has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Monday, September 23rd. The Goldman Sachs Group started coverage on Verizon Communications in a research note on Monday, July 1st. They issued a “buy” rating and a $50.00 price objective on the stock. Bank of America boosted their target price on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. reduced their price target on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. Finally, KeyCorp lowered their price objective on shares of Verizon Communications from $46.00 to $44.00 and set an “overweight” rating for the company in a research report on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.26.

Verizon Communications Stock Performance

The company has a market capitalization of $186.22 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 4.03 and a beta of 0.42. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60. The company’s 50-day moving average price is $42.44 and its two-hundred day moving average price is $41.18.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm had revenue of $32.80 billion during the quarter, compared to analyst estimates of $33.05 billion. During the same period last year, the company posted $1.21 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.678 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.13%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, October 10th. Verizon Communications’s dividend payout ratio is presently 101.12%.

Institutional Trading of Verizon Communications

Several large investors have recently made changes to their positions in VZ. Cadinha & Co. LLC raised its stake in shares of Verizon Communications by 9.3% in the third quarter. Cadinha & Co. LLC now owns 9,388 shares of the cell phone carrier’s stock worth $422,000 after purchasing an additional 800 shares during the last quarter. Unison Advisors LLC grew its holdings in Verizon Communications by 1.6% during the third quarter. Unison Advisors LLC now owns 62,258 shares of the cell phone carrier’s stock worth $2,796,000 after buying an additional 965 shares in the last quarter. Advocate Group LLC raised its position in Verizon Communications by 5.1% in the 3rd quarter. Advocate Group LLC now owns 242,603 shares of the cell phone carrier’s stock valued at $10,895,000 after buying an additional 11,845 shares during the last quarter. Hyperion Partners LLC lifted its stake in Verizon Communications by 8.2% during the 3rd quarter. Hyperion Partners LLC now owns 13,643 shares of the cell phone carrier’s stock valued at $613,000 after acquiring an additional 1,034 shares in the last quarter. Finally, Cypress Wealth Services LLC boosted its holdings in Verizon Communications by 1.9% during the 3rd quarter. Cypress Wealth Services LLC now owns 18,428 shares of the cell phone carrier’s stock worth $828,000 after acquiring an additional 339 shares during the last quarter. 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).