Verizon Communications (NYSE:VZ) Stock Price Up 0.1% on Analyst Upgrade

Verizon Communications Inc. (NYSE:VZ)’s share price rose 0.1% during trading on Tuesday after Oppenheimer raised their price target on the stock from $48.00 to $50.00. Oppenheimer currently has an outperform rating on the stock. Verizon Communications traded as high as $45.60 and last traded at $45.39. Approximately 3,796,250 shares traded hands during trading, a decline of 85% from the average daily volume of 24,744,855 shares. The stock had previously closed at $45.36.

A number of other equities research analysts have also weighed in on VZ. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th. Sanford C. Bernstein initiated coverage on Verizon Communications in a research report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective for the company. DZ Bank upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday, January 29th. Argus upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Wolfe Research lowered shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, March 12th. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.82.

Insider Transactions at Verizon Communications

In other news, CEO Kyle Malady sold 20,000 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $40.54, for a total value of $810,800.00. Following the completion of the sale, the chief executive officer now owns 45,675 shares of the company’s stock, valued at $1,851,664.50. This represents a 30.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of Verizon Communications stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total transaction of $437,900.00. Following the transaction, the executive vice president now owns 14,459 shares in the company, valued at $633,159.61. The trade was a 40.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,085 shares of company stock worth $2,020,895 in the last ninety days. Insiders own 0.03% of the company’s stock.

Hedge Funds Weigh In On Verizon Communications

Several hedge funds and other institutional investors have recently bought and sold shares of VZ. Mainstream Capital Management LLC acquired a new stake in Verizon Communications during the 4th quarter valued at $28,000. Legend Financial Advisors Inc. increased its position in shares of Verizon Communications by 69.6% during the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after acquiring an additional 320 shares during the last quarter. Mattson Financial Services LLC lifted its stake in shares of Verizon Communications by 114.6% in the fourth quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock worth $31,000 after acquiring an additional 415 shares in the last quarter. Graney & King LLC purchased a new position in Verizon Communications in the fourth quarter valued at about $32,000. Finally, Capital A Wealth Management LLC purchased a new stake in Verizon Communications during the 4th quarter worth approximately $32,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

The company has a market capitalization of $188.34 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41. 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 stock has a 50-day simple moving average of $42.48 and a 200-day simple moving average of $42.10.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data 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 net margin of 12.99% and a return on equity of 19.80%. During the same quarter in the prior year, the company earned $1.08 EPS. On average, analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s dividend payout ratio is presently 65.46%.

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).