Verizon Communications (NYSE:VZ) Stock Price Down 0.9% – Should You Sell?

Verizon Communications Inc. (NYSE:VZ)’s stock price dropped 0.9% during trading on Wednesday . The stock traded as low as $42.50 and last traded at $42.48. Approximately 3,720,698 shares changed hands during trading, a decline of 79% from the average daily volume of 17,681,814 shares. The stock had previously closed at $42.87.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on VZ. StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. Wolfe Research lifted their target price on Verizon Communications from $50.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Royal Bank of Canada cut their price target on Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. Argus upgraded Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. Finally, TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $46.11.

Verizon Communications Trading Up 0.0 %

The stock has a market cap of $180.49 billion, a P/E ratio of 10.36, a price-to-earnings-growth ratio of 4.45 and a beta of 0.45. 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 business’s fifty day simple moving average is $40.34 and its 200 day simple moving average is $41.76.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 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 quarter in the prior year, the firm earned $1.08 EPS. As a group, analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current 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 dividend of $0.6775 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.32%. Verizon Communications’s payout ratio is currently 65.46%.

Insider Activity at Verizon Communications

In related news, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value 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. This represents a 40.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kyle Malady sold 20,000 shares of Verizon Communications stock in a transaction on Monday, January 27th. The stock was sold at an average price of $40.54, for a total transaction of $810,800.00. Following the sale, the chief executive officer now directly owns 45,675 shares of the company’s stock, valued at $1,851,664.50. This represents a 30.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,085 shares of company stock worth $2,020,895 over the last 90 days. Insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Verizon Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Austin Private Wealth LLC increased its stake in shares of Verizon Communications by 3.0% in the 3rd quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier’s stock valued at $379,000 after acquiring an additional 243 shares during the last quarter. NCM Capital Management LLC increased its stake in Verizon Communications by 1.4% in the fourth quarter. NCM Capital Management LLC now owns 18,390 shares of the cell phone carrier’s stock valued at $735,000 after purchasing an additional 245 shares in the last quarter. Cary Street Partners Asset Management LLC raised its holdings in Verizon Communications by 3.4% in the third quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock worth $343,000 after purchasing an additional 249 shares during the period. First Personal Financial Services raised its holdings in Verizon Communications by 0.3% in the third quarter. First Personal Financial Services now owns 91,092 shares of the cell phone carrier’s stock worth $4,091,000 after purchasing an additional 250 shares during the period. Finally, Encompass Wealth Advisors LLC boosted its position in shares of Verizon Communications by 2.0% during the third quarter. Encompass Wealth Advisors LLC now owns 12,505 shares of the cell phone carrier’s stock worth $562,000 after purchasing an additional 250 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Company Profile

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).