Verizon Communications (NYSE:VZ) Stock Price Down 0.2% – What’s Next?

Verizon Communications Inc. (NYSE:VZ)’s stock price dropped 0.2% during mid-day trading on Monday . The stock traded as low as $43.62 and last traded at $43.89. Approximately 3,849,933 shares changed hands during trading, a decline of 79% from the average daily volume of 18,292,329 shares. The stock had previously closed at $43.99.

Analysts Set New Price Targets

Several analysts recently issued reports on VZ shares. Scotiabank lifted their target price on Verizon Communications from $47.50 to $48.00 and gave the company a “sector perform” rating in a research note on Monday, March 3rd. UBS Group lifted their price objective on shares of Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Argus upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. Finally, StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.71.

Verizon Communications Stock Performance

The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. The business has a 50-day moving average of $41.73 and a 200-day moving average of $42.04. The company has a market capitalization of $182.95 billion, a P/E ratio of 10.50, a P/E/G ratio of 4.45 and a beta of 0.41.

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 analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same quarter in the previous year, the firm earned $1.08 EPS. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid 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 6.24%. Verizon Communications’s dividend payout ratio is 65.46%.

Insider Transactions at Verizon Communications

In other news, EVP Vandana Venkatesh sold 10,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 14,459 shares of the company’s stock, valued at approximately $633,159.61. This trade represents a 40.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kyle Malady sold 11,085 shares of Verizon Communications stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total transaction of $453,154.80. Following the sale, the chief executive officer now directly owns 14,590 shares of the company’s stock, valued at $596,439.20. This represents a 43.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,085 shares of company stock worth $2,020,895. 0.02% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Mascagni Wealth Management Inc. purchased a new stake in shares of Verizon Communications in the 4th quarter worth $46,000. Prostatis Group LLC lifted its stake in Verizon Communications by 6.6% in the fourth quarter. Prostatis Group LLC now owns 38,030 shares of the cell phone carrier’s stock worth $1,521,000 after acquiring an additional 2,361 shares during the period. Chancellor Financial Group WB LP bought a new position in Verizon Communications during the 4th quarter worth about $901,000. 111 Capital purchased a new position in Verizon Communications during the 4th quarter valued at about $614,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Verizon Communications by 26.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,327,633 shares of the cell phone carrier’s stock valued at $53,092,000 after purchasing an additional 276,891 shares in the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

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).