Verizon Communications (NYSE:VZ) Trading 0.3% Higher – Time to Buy?

Verizon Communications Inc. (NYSE:VZ)’s share price rose 0.3% during trading on Tuesday . The stock traded as high as $44.14 and last traded at $43.97. Approximately 1,814,969 shares changed hands during trading, a decline of 90% from the average daily volume of 18,644,494 shares. The stock had previously closed at $43.84.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on VZ shares. Raymond James raised their price target on Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Citigroup upped their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. KeyCorp dropped their price target on Verizon Communications from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Friday, September 6th. JPMorgan Chase & Co. cut their price objective on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. Finally, Scotiabank increased their price objective on shares of Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a report on Wednesday, July 10th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.26.

Verizon Communications Stock Up 0.5 %

The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. The stock has a market cap of $185.46 billion, a P/E ratio of 16.41, a P/E/G ratio of 4.03 and a beta of 0.42. The company has a 50-day simple moving average of $42.36 and a two-hundred day simple moving average of $41.15.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. The company had revenue of $32.80 billion for the quarter, compared to the consensus estimate of $33.05 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 earnings per share. On average, equities analysts forecast that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.678 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.16%. Verizon Communications’s dividend payout ratio is presently 101.12%.

Institutional Investors Weigh In On Verizon Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Verizon Communications by 0.3% in the first quarter. Vanguard Group Inc. now owns 351,267,175 shares of the cell phone carrier’s stock valued at $14,739,171,000 after acquiring an additional 1,216,963 shares in the last quarter. Legal & General Group Plc boosted its holdings in Verizon Communications by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 38,357,031 shares of the cell phone carrier’s stock worth $1,581,848,000 after acquiring an additional 1,106,887 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Verizon Communications by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 35,561,841 shares of the cell phone carrier’s stock worth $1,466,446,000 after acquiring an additional 535,322 shares during the last quarter. Raymond James & Associates grew its holdings in Verizon Communications by 0.6% during the 2nd quarter. Raymond James & Associates now owns 16,458,264 shares of the cell phone carrier’s stock worth $678,739,000 after acquiring an additional 104,447 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Verizon Communications by 7.7% in the second quarter. American Century Companies Inc. now owns 13,127,360 shares of the cell phone carrier’s stock worth $541,372,000 after acquiring an additional 936,823 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

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).