Verizon Communications (NYSE:VZ) Trading Up 1.3% – Time to Buy?

Verizon Communications Inc. (NYSE:VZ)’s share price rose 1.3% on Wednesday . The stock traded as high as $44.33 and last traded at $44.04. Approximately 3,403,183 shares were traded during trading, a decline of 81% from the average daily volume of 18,306,451 shares. The stock had previously closed at $43.49.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Sanford C. Bernstein started coverage on Verizon Communications in a report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective on the stock. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Wolfe Research downgraded shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a report on Wednesday, March 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 target price (up previously from $42.00) on shares of Verizon Communications in a report on Tuesday. Finally, Scotiabank boosted their target price on shares of Verizon Communications from $47.50 to $48.00 and gave the company a “sector perform” rating in a research report on Monday, March 3rd. Ten analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $46.71.

Verizon Communications Stock Performance

The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The firm’s fifty day moving average is $41.73 and its 200 day moving average is $42.04. The company has a market cap of $185.42 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last released its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS 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 posted $1.08 EPS. As a group, research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $0.6775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.15%. Verizon Communications’s dividend payout ratio (DPR) is presently 65.46%.

Insider Transactions at Verizon Communications

In other news, EVP Vandana Venkatesh sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following the transaction, the executive vice president now directly owns 14,459 shares in the company, valued at $633,159.61. The trade was a 40.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kyle Malady sold 11,085 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total value of $453,154.80. Following the completion of the sale, the chief executive officer now directly owns 14,590 shares of the company’s stock, valued at approximately $596,439.20. This represents a 43.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,085 shares of company stock valued at $2,020,895 over the last ninety days. Insiders own 0.02% of the company’s stock.

Institutional Trading of Verizon Communications

Several large investors have recently added to or reduced their stakes in the stock. Mainstream Capital Management LLC acquired a new position in shares of Verizon Communications during the 4th quarter valued at about $28,000. Legend Financial Advisors Inc. boosted its holdings in Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 320 shares during the last quarter. Mattson Financial Services LLC grew its stake in shares of Verizon Communications by 114.6% in the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock valued at $31,000 after buying an additional 415 shares during the period. Graney & King LLC acquired a new stake in shares of Verizon Communications during the 4th quarter worth approximately $32,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at approximately $32,000. 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).