Verizon Communications (NYSE:VZ) Shares Down 1.1% – Time to Sell?

Verizon Communications Inc. (NYSE:VZ)’s share price was down 1.1% during trading on Friday . The company traded as low as $37.59 and last traded at $37.84. Approximately 7,529,659 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 20,921,047 shares. The stock had previously closed at $38.26.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Tigress Financial upped their price target on shares of Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. 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 on the stock. KeyCorp downgraded Verizon Communications from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Raymond James upped their price target on Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Finally, Scotiabank lifted their price objective on Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.54.

Verizon Communications Trading Down 0.9 %

The company’s fifty day simple moving average is $41.36 and its two-hundred day simple moving average is $41.81. The company has a market capitalization of $159.54 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 3.05 and a beta of 0.46. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping the consensus estimate of $1.18 by $0.01. The business had revenue of $33.30 billion for the quarter, compared to the consensus estimate of $33.42 billion. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 EPS. Research analysts forecast that Verizon Communications Inc. will post 4.61 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 7.15%. The ex-dividend date is Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 116.81%.

Institutional Trading of Verizon Communications

A number of large investors have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in shares of Verizon Communications in the 3rd quarter valued at about $31,000. Legend Financial Advisors Inc. grew its holdings 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 buying an additional 320 shares in the last quarter. Accordant Advisory Group Inc raised its position in Verizon Communications by 137.6% in the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after buying an additional 450 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in Verizon Communications in the 3rd quarter valued at approximately $44,000. Finally, McClarren Financial Advisors Inc. boosted its position in Verizon Communications by 762.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,061 shares of the cell phone carrier’s stock worth $48,000 after acquiring an additional 938 shares during the last quarter. 62.06% of the stock is 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).