Verizon Communications (NYSE:VZ) Stock Price Up 0.1%

Verizon Communications Inc. (NYSE:VZ)’s stock price rose 0.1% during trading on Friday . The company traded as high as $40.14 and last traded at $39.97. Approximately 2,880,199 shares were traded during trading, a decline of 85% from the average daily volume of 18,848,686 shares. The stock had previously closed at $39.95.

Wall Street Analyst Weigh In

VZ has been the subject of a number of recent research reports. StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Oppenheimer reissued an “outperform” rating and set a $48.00 price target on shares of Verizon Communications in a research report on Tuesday, April 23rd. Wells Fargo & Company lowered their price objective on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 23rd. Scotiabank upped their target price on Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research report on Wednesday, July 10th. Finally, TD Cowen raised their price target on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus target price of $45.68.

Verizon Communications Price Performance

The business’s 50-day simple moving average is $40.58 and its two-hundred day simple moving average is $40.43. The stock has a market cap of $168.92 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 3.62 and a beta of 0.41. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.67.

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

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a $0.665 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.66 dividend on an annualized basis and a yield of 6.63%. Verizon Communications’s dividend payout ratio (DPR) is presently 99.25%.

Hedge Funds Weigh In On Verizon Communications

Hedge funds have recently modified their holdings of the business. Alliance Wealth Advisors LLC grew its stake in shares of Verizon Communications by 1.4% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 17,760 shares of the cell phone carrier’s stock valued at $732,000 after acquiring an additional 241 shares during the period. Sawgrass Asset Management LLC boosted its position in shares of Verizon Communications by 1.2% in the second quarter. Sawgrass Asset Management LLC now owns 21,568 shares of the cell phone carrier’s stock worth $889,000 after purchasing an additional 250 shares during the period. Fermata Advisors LLC increased its stake in shares of Verizon Communications by 5.0% in the second quarter. Fermata Advisors LLC now owns 5,383 shares of the cell phone carrier’s stock worth $222,000 after purchasing an additional 254 shares in the last quarter. Private Portfolio Partners LLC raised its position in shares of Verizon Communications by 0.9% during the 4th quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier’s stock valued at $1,035,000 after purchasing an additional 255 shares during the period. Finally, BKM Wealth Management LLC lifted its stake in shares of Verizon Communications by 7.4% during the 1st quarter. BKM Wealth Management LLC now owns 3,715 shares of the cell phone carrier’s stock valued at $156,000 after buying an additional 257 shares in the last quarter. Institutional investors and hedge funds 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).