Verizon Communications (NYSE:VZ) Trading Up 1.1% – Still a Buy?

Verizon Communications Inc. (NYSE:VZ)’s stock price shot up 1.1% during trading on Monday . The company traded as high as $39.95 and last traded at $39.83. 6,045,707 shares were traded during mid-day trading, a decline of 76% from the average session volume of 25,581,145 shares. The stock had previously closed at $39.39.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a report on Friday, January 24th. Royal Bank of Canada reduced their price objective on shares of Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. Argus upgraded Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Wolfe Research raised their price target on Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Verizon Communications has an average rating of “Moderate Buy” and a consensus target price of $46.08.

Verizon Communications Trading Up 1.5 %

The business’s 50-day simple moving average is $40.61 and its two-hundred day simple moving average is $41.57. The stock has a market capitalization of $168.36 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 4.11 and a beta of 0.45. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same quarter in the previous year, the firm earned $1.08 EPS. On average, research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.6775 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.78%. Verizon Communications’s dividend payout ratio (DPR) is presently 65.46%.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 11,085 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total value of $453,154.80. Following the sale, the chief executive officer now directly owns 14,590 shares in the company, valued at approximately $596,439.20. This trade represents a 43.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Verizon Communications

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new position in shares of Verizon Communications in the 3rd quarter worth approximately $31,000. Legend Financial Advisors Inc. grew its position in Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after buying an additional 320 shares during the last quarter. Compass Financial Services Inc bought a new position in shares of Verizon Communications in the fourth quarter valued at $33,000. Accordant Advisory Group Inc lifted its position in shares of Verizon Communications by 137.6% during the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after acquiring an additional 450 shares during the last quarter. Finally, Hager Investment Management Services LLC bought a new stake in shares of Verizon Communications during the 4th quarter worth $38,000. 62.06% of the stock is currently owned by 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).