Verizon Communications (NYSE:VZ) Raised to “Strong-Buy” at Argus

Verizon Communications (NYSE:VZ) was upgraded by research analysts at Argus to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

VZ has been the topic of a number of other reports. 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. Scotiabank upped their target price on Verizon Communications from $47.00 to $47.50 and gave the company a “sector perform” rating in a research report on Monday. Royal Bank of Canada decreased their price target on shares of Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. UBS Group lifted their price target on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Finally, TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus target price of $46.08.

Verizon Communications Stock Performance

Shares of NYSE:VZ opened at $40.25 on Monday. The business has a 50-day moving average of $40.79 and a two-hundred day moving average of $41.61. The firm has a market capitalization of $169.43 billion, a PE ratio of 17.35, a P/E/G ratio of 3.27 and a beta of 0.46. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62. Verizon Communications has a 12 month low of $37.58 and a 12 month high of $45.36.

Verizon Communications (NYSE:VZ) last posted its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. During the same quarter last year, the business posted $1.08 EPS. As a group, research analysts forecast that Verizon Communications will post 4.59 earnings per share for the current year.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 20,000 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which is available through the SEC website. 0.02% of the stock is owned by company insiders.

Institutional Trading of Verizon Communications

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC acquired a new stake in Verizon Communications in the fourth quarter worth approximately $311,000. Bogart Wealth LLC raised its stake in shares of Verizon Communications by 961.3% in the 4th quarter. Bogart Wealth LLC now owns 185,724 shares of the cell phone carrier’s stock worth $7,427,000 after buying an additional 168,224 shares in the last quarter. Life Planning Partners Inc bought a new position in Verizon Communications during the fourth quarter valued at about $2,621,000. Pathway Financial Advisers LLC grew its holdings in Verizon Communications by 0.9% during the fourth quarter. Pathway Financial Advisers LLC now owns 101,136 shares of the cell phone carrier’s stock worth $4,044,000 after acquiring an additional 903 shares during the period. Finally, Avestar Capital LLC raised its position in Verizon Communications by 7.5% in the fourth quarter. Avestar Capital LLC now owns 25,579 shares of the cell phone carrier’s stock worth $1,023,000 after acquiring an additional 1,774 shares in the last quarter. 62.06% of the stock is currently owned by 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).