Verizon Communications (NYSE:VZ) Trading Up 0.7%

Shares of Verizon Communications Inc. (NYSE:VZGet Free Report) shot up 0.7% during trading on Tuesday . The stock traded as high as $41.54 and last traded at $41.47. 2,930,160 shares traded hands during trading, a decline of 84% from the average session volume of 18,755,754 shares. The stock had previously closed at $41.17.

Wall Street Analyst Weigh In

Several analysts have weighed in on VZ shares. Oppenheimer reissued an “outperform” rating and issued a $48.00 price target on shares of Verizon Communications in a research note on Tuesday, April 23rd. Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and increased their target price for the company from $33.00 to $39.00 in a report on Friday, March 22nd. Wells Fargo & Company reduced their price target on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 23rd. Royal Bank of Canada increased their price objective on Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 2nd. Finally, Tigress Financial lifted their target price on shares of Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.77.

View Our Latest Report on VZ

Verizon Communications Stock Performance

The company’s 50-day moving average price is $39.99 and its 200 day moving average price is $39.96. The stock has a market capitalization of $172.41 billion, a PE ratio of 15.47, a PEG ratio of 2.92 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.71.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.12 by $0.03. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The business had revenue of $33 billion during the quarter, compared to analyst estimates of $33.23 billion. During the same period last year, the business posted $1.20 earnings per share. Verizon Communications’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts expect that Verizon Communications Inc. will post 4.59 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a $0.665 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $2.66 annualized dividend and a yield of 6.49%. Verizon Communications’s payout ratio is 99.25%.

Hedge Funds Weigh In On Verizon Communications

Institutional investors and hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Verizon Communications by 50.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,876 shares of the cell phone carrier’s stock worth $1,357,000 after acquiring an additional 14,090 shares in the last quarter. Profund Advisors LLC increased its stake in shares of Verizon Communications by 6.4% in the third quarter. Profund Advisors LLC now owns 43,934 shares of the cell phone carrier’s stock worth $1,424,000 after purchasing an additional 2,629 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Verizon Communications by 46.2% in the third quarter. O Shaughnessy Asset Management LLC now owns 597,822 shares of the cell phone carrier’s stock worth $19,375,000 after purchasing an additional 189,041 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV raised its position in shares of Verizon Communications by 2.9% during the 3rd quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 64,328 shares of the cell phone carrier’s stock valued at $2,085,000 after purchasing an additional 1,786 shares during the period. Finally, Vinva Investment Management Ltd lifted its stake in shares of Verizon Communications by 21.5% during the 3rd quarter. Vinva Investment Management Ltd now owns 152,128 shares of the cell phone carrier’s stock valued at $4,952,000 after buying an additional 26,931 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Company Profile

(Get Free Report)

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).

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