DZ Bank Upgrades Verizon Communications (NYSE:VZ) to Buy

Verizon Communications (NYSE:VZ) was upgraded by stock analysts at DZ Bank from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a $40.00 price objective on the cell phone carrier’s stock. DZ Bank’s price objective would suggest a potential upside of 1.36% from the stock’s previous close.

A number of other brokerages have also weighed in on VZ. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 16th. Royal Bank of Canada lowered their price objective on shares of Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Scotiabank upped their target price on shares of Verizon Communications from $47.00 to $47.50 and gave the stock a “sector perform” rating in a report on Monday. Finally, Wolfe Research lifted their price target on Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus target price of $46.08.

Verizon Communications Trading Down 2.0 %

NYSE:VZ opened at $39.47 on Wednesday. Verizon Communications has a 12 month low of $37.58 and a 12 month high of $45.36. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $166.13 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 3.27 and a beta of 0.46. The firm has a fifty day simple moving average of $40.75 and a two-hundred day simple moving average of $41.60.

Verizon Communications (NYSE:VZ) last issued its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing the consensus estimate 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 period last year, the company earned $1.08 earnings per share. Analysts expect that Verizon Communications will post 4.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kyle Malady sold 20,000 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $40.54, for a total value of $810,800.00. Following the sale, the chief executive officer now directly owns 45,675 shares in the company, valued at approximately $1,851,664.50. The trade was a 30.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Verizon Communications

Several hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its position in shares of Verizon Communications by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 101,273,082 shares of the cell phone carrier’s stock valued at $4,548,163,000 after buying an additional 5,936,009 shares during the period. Geode Capital Management LLC increased its holdings in Verizon Communications by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 95,824,245 shares of the cell phone carrier’s stock worth $4,289,054,000 after acquiring an additional 2,081,241 shares during the period. FMR LLC lifted its stake in Verizon Communications by 2.0% in the 3rd quarter. FMR LLC now owns 29,074,297 shares of the cell phone carrier’s stock worth $1,305,727,000 after purchasing an additional 565,842 shares in the last quarter. Parnassus Investments LLC boosted its holdings in Verizon Communications by 2.8% in the 3rd quarter. Parnassus Investments LLC now owns 18,161,563 shares of the cell phone carrier’s stock valued at $815,636,000 after purchasing an additional 502,949 shares during the period. Finally, Swiss National Bank grew its position in shares of Verizon Communications by 0.4% during the 3rd quarter. Swiss National Bank now owns 12,493,998 shares of the cell phone carrier’s stock valued at $561,105,000 after purchasing an additional 46,100 shares in the last quarter. 62.06% of the stock is currently owned by hedge funds and other 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).