Verizon Communications (NYSE:VZ) Trading Down 0.2%

Verizon Communications Inc. (NYSE:VZ) shares traded down 0.2% on Wednesday . The stock traded as low as $40.73 and last traded at $40.75. 1,495,623 shares traded hands during trading, a decline of 92% from the average session volume of 18,480,961 shares. The stock had previously closed at $40.85.

Analysts Set New Price Targets

Several analysts have commented on VZ shares. Tigress Financial lifted their price objective on shares of Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Scotiabank upped their price objective on Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research note on Wednesday, July 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $42.00 target price on shares of Verizon Communications in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. dropped their price target on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Finally, TD Cowen boosted their price objective on Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus target price of $45.78.

Verizon Communications Stock Performance

The stock has a market capitalization of $173.42 billion, a P/E ratio of 15.32, a P/E/G ratio of 3.72 and a beta of 0.41. The company’s fifty day simple moving average is $40.68 and its 200 day simple moving average is $40.44. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29.

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 net margin of 8.38% and a return on equity of 20.10%. The company had revenue of $32.80 billion for the quarter, compared to analysts’ expectations of $33.05 billion. During the same period in the prior year, the business earned $1.21 earnings per share. Verizon Communications’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts forecast that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 6.46%. The ex-dividend date was Wednesday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 99.25%.

Institutional Trading of Verizon Communications

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Koesten Hirschmann & Crabtree INC. bought a new position in shares of Verizon Communications during the first quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in Verizon Communications in the 4th quarter worth approximately $29,000. Mizuho Securities Co. Ltd. bought a new stake in Verizon Communications in the second quarter valued at approximately $32,000. MFA Wealth Advisors LLC purchased a new stake in shares of Verizon Communications during the second quarter valued at approximately $33,000. Finally, Vima LLC bought a new position in shares of Verizon Communications in the fourth quarter worth 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).