Verizon Communications (NYSE:VZ) Upgraded at Argus

Argus upgraded shares of Verizon Communications (NYSE:VZ) to a strong-buy rating in a research report released on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Wolfe Research lifted their price objective on shares of Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Scotiabank boosted their target price on shares of Verizon Communications from $47.00 to $47.50 and gave the stock a “sector perform” rating in a research report on Monday. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada decreased their price objective on shares of Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.08.

Verizon Communications Stock Down 0.4 %

VZ stock opened at $40.25 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.32. Verizon Communications has a twelve month low of $37.58 and a twelve month high of $45.36. The company’s 50 day moving average is $40.79 and its two-hundred day moving average is $41.61. The stock has a market cap of $169.43 billion, a P/E ratio of 17.35, a PEG ratio of 3.27 and a beta of 0.46.

Verizon Communications (NYSE:VZ) last announced its earnings results 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 7.30% and a return on equity of 20.05%. During the same quarter last year, the firm earned $1.08 earnings per share. Research analysts expect that Verizon Communications will post 4.59 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.6775 per share. The ex-dividend date is Friday, January 10th. This represents a $2.71 annualized dividend and a yield of 6.73%. Verizon Communications’s dividend payout ratio is currently 116.81%.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 20,000 shares of the 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 completion of the transaction, the chief executive officer now owns 45,675 shares in the company, valued at $1,851,664.50. This trade represents a 30.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Verizon Communications

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Fermata Advisors LLC boosted its position in shares of Verizon Communications by 4.5% in the 3rd quarter. Fermata Advisors LLC now owns 5,626 shares of the cell phone carrier’s stock valued at $253,000 after purchasing an additional 243 shares during the period. Austin Private Wealth LLC boosted its position 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 purchasing an additional 243 shares during the period. Cary Street Partners Asset Management LLC boosted its position in shares of Verizon Communications by 3.4% in the 3rd quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock valued at $343,000 after purchasing an additional 249 shares during the period. Wynn Capital LLC boosted its position in Verizon Communications by 4.4% during the 3rd quarter. Wynn Capital LLC now owns 5,945 shares of the cell phone carrier’s stock worth $267,000 after acquiring an additional 250 shares during the period. Finally, Western Financial Corp CA grew its stake in Verizon Communications by 1.5% during the 3rd quarter. Western Financial Corp CA now owns 17,491 shares of the cell phone carrier’s stock valued at $786,000 after acquiring an additional 250 shares in the last quarter. Institutional investors and hedge funds 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).