Verizon Communications (NYSE:VZ) Raised to “Strong-Buy” at StockNews.com

Verizon Communications (NYSE:VZ) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.

Other research analysts also recently issued reports about the stock. Scotiabank upped their price target on shares of Verizon Communications from $47.50 to $48.00 and gave the stock a “sector perform” rating in a report on Monday. DZ Bank upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Wednesday, January 29th. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Wolfe Research upped their price target on shares of Verizon Communications from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, UBS Group upped their price target on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.11.

Verizon Communications Stock Up 3.3 %

NYSE VZ opened at $44.26 on Wednesday. The business has a fifty day moving average price of $40.49 and a two-hundred day moving average price of $41.79. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. Verizon Communications has a fifty-two week low of $37.59 and a fifty-two week high of $45.36. The stock has a market capitalization of $186.30 billion, a PE ratio of 10.69, a PEG ratio of 4.45 and a beta of 0.45.

Verizon Communications (NYSE:VZ) last released 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 return on equity of 19.80% and a net margin of 12.99%. During the same period in the prior year, the firm earned $1.08 EPS. Equities analysts expect that Verizon Communications will post 4.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 8,000 shares of Verizon Communications stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.88, for a total transaction of $319,040.00. Following the completion of the transaction, the chief executive officer now owns 6,590 shares in the company, valued at approximately $262,809.20. The trade was a 54.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vandana Venkatesh sold 10,000 shares of Verizon Communications stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now owns 14,459 shares of the company’s stock, valued at $633,159.61. This trade represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,085 shares of company stock worth $2,020,895. 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 business. Birmingham Capital Management Co. Inc. AL boosted its stake in shares of Verizon Communications by 9.5% in the 4th quarter. Birmingham Capital Management Co. Inc. AL now owns 24,252 shares of the cell phone carrier’s stock worth $970,000 after buying an additional 2,100 shares during the last quarter. BridgePort Financial Solutions LLC purchased a new position in shares of Verizon Communications in the 4th quarter worth approximately $381,000. Park Square Financial Group LLC purchased a new position in shares of Verizon Communications in the 4th quarter worth approximately $192,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Verizon Communications in the 4th quarter worth approximately $128,434,000. Finally, Brucke Financial Inc. purchased a new position in shares of Verizon Communications in the 4th quarter worth approximately $439,000. Hedge funds and other institutional investors 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).