Verizon Communications (NYSE:VZ) Shares Up 0.5% – Still a Buy?

Verizon Communications Inc. (NYSE:VZ)’s stock price rose 0.5% during trading on Friday . The company traded as high as $40.85 and last traded at $40.76. Approximately 2,752,350 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 18,528,336 shares. The stock had previously closed at $40.57.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VZ. Citigroup increased their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. UBS Group increased their target price on shares of Verizon Communications from $43.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. 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. Scotiabank upped their price objective on shares of Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Finally, Tigress Financial lifted their target price on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Verizon Communications has a consensus rating of “Moderate Buy” and an average target price of $46.37.

Verizon Communications Trading Down 0.2 %

The company’s fifty day moving average is $43.11 and its two-hundred day moving average is $41.38. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. The stock has a market cap of $170.41 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.99 and a beta of 0.43.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. The business had revenue of $33.30 billion for the quarter, compared to analyst estimates of $33.42 billion. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The company’s revenue was up .9% on a year-over-year basis. During the same period last year, the business earned $1.22 EPS. On average, research analysts predict that Verizon Communications Inc. will post 4.61 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.678 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 annualized dividend and a dividend yield of 6.70%. The ex-dividend date was Thursday, October 10th. Verizon Communications’s dividend payout ratio is currently 116.81%.

Hedge Funds Weigh In On Verizon Communications

Several hedge funds have recently added to or reduced their stakes in VZ. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of Verizon Communications in the 1st quarter valued at about $25,000. Capital Performance Advisors LLP purchased a new position in Verizon Communications during the 3rd quarter worth approximately $31,000. Accordant Advisory Group Inc lifted its stake in Verizon Communications by 137.6% in the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after buying an additional 450 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Verizon Communications in the second quarter valued at approximately $32,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Verizon Communications in the 2nd quarter valued at $33,000. 62.06% of the stock is currently 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).