Verizon Communications (NYSE:VZ) Trading Up 0.1% – Should You Buy?

Verizon Communications Inc. (NYSE:VZ)’s share price was up 0.1% during trading on Thursday . The stock traded as high as $44.00 and last traded at $43.95. Approximately 1,774,745 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 18,399,496 shares. The stock had previously closed at $43.91.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. TD Cowen lifted their target price on shares of Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Royal Bank of Canada raised their target price on Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a research report on Monday, September 23rd. Bank of America upped their price target on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, The Goldman Sachs Group assumed coverage on Verizon Communications in a report on Monday, July 1st. They issued a “buy” rating and a $50.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.26.

Verizon Communications Stock Down 0.5 %

The business’s fifty day moving average price is $42.81 and its 200 day moving average price is $41.26. The firm has a market capitalization of $183.90 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 4.02 and a beta of 0.42. 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 issued its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm had revenue of $32.80 billion for the quarter, compared to analysts’ expectations of $33.05 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities analysts expect that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.678 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 annualized dividend and a dividend yield of 6.21%. The ex-dividend date is Thursday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 101.12%.

Institutional Trading of Verizon Communications

A number of institutional investors have recently added to or reduced their stakes in the stock. Swedbank AB acquired a new stake in shares of Verizon Communications during the first quarter worth $250,312,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Verizon Communications by 112.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 6,574,910 shares of the cell phone carrier’s stock valued at $273,507,000 after purchasing an additional 3,481,936 shares during the period. Bank of Montreal Can increased its position in shares of Verizon Communications by 18.6% during the second quarter. Bank of Montreal Can now owns 13,016,271 shares of the cell phone carrier’s stock worth $536,791,000 after acquiring an additional 2,040,247 shares during the last quarter. Capital Wealth Planning LLC lifted its stake in shares of Verizon Communications by 37.9% in the second quarter. Capital Wealth Planning LLC now owns 6,973,838 shares of the cell phone carrier’s stock worth $287,601,000 after acquiring an additional 1,916,951 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Verizon Communications by 153.8% in the second quarter. Marshall Wace LLP now owns 2,806,221 shares of the cell phone carrier’s stock valued at $115,729,000 after purchasing an additional 1,700,619 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

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).