Verizon Communications (NYSE:VZ) Stock Price Up 2.6% – Time to Buy?

Verizon Communications Inc. (NYSE:VZ)’s stock price was up 2.6% during trading on Thursday . The company traded as high as $46.19 and last traded at $45.90. Approximately 12,082,319 shares were traded during trading, a decline of 38% from the average daily volume of 19,539,389 shares. The stock had previously closed at $44.74.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. StockNews.com cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 13th. Deutsche Bank Aktiengesellschaft increased their price target on Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Oppenheimer boosted their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday. Scotiabank increased their price objective 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. Finally, TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Ten investment 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.82.

Verizon Communications Trading Up 1.9 %

The stock has a market capitalization of $191.95 billion, a P/E ratio of 11.01, a P/E/G ratio of 4.45 and a beta of 0.41. The stock’s 50 day moving average price is $42.48 and its 200-day moving average price is $42.10. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21.

Verizon Communications (NYSE:VZ) last announced its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same period in the prior year, the firm posted $1.08 EPS. As a group, equities research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a $0.6775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 5.94%. Verizon Communications’s dividend payout ratio (DPR) is presently 65.46%.

Insider Buying and Selling at Verizon Communications

In other news, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 14,459 shares in the company, valued at approximately $633,159.61. This represents a 40.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kyle Malady sold 20,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $40.54, for a total value of $810,800.00. Following the transaction, the chief executive officer now owns 45,675 shares in the company, valued at approximately $1,851,664.50. This trade represents a 30.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,085 shares of company stock valued at $2,020,895. 0.03% of the stock is currently owned by insiders.

Institutional Trading of Verizon Communications

Institutional investors have recently bought and sold shares of the stock. Mainstream Capital Management LLC acquired a new stake in shares of Verizon Communications during the fourth quarter worth $28,000. Legend Financial Advisors Inc. grew its stake in Verizon Communications by 69.6% during 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 Verizon Communications by 114.6% during the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 415 shares during the last quarter. Graney & King LLC acquired a new position in shares of Verizon Communications in the fourth quarter valued at about $32,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Verizon Communications in the fourth quarter worth about $32,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

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).