Verizon Communications (NYSE:VZ) Sets New 12-Month High – Should You Buy?

Verizon Communications Inc. (NYSE:VZ) reached a new 52-week high during mid-day trading on Saturday . The stock traded as high as $46.20 and last traded at $46.13, with a volume of 44982282 shares trading hands. The stock had previously closed at $44.23.

Analyst Ratings Changes

VZ has been the topic of several recent analyst reports. Tigress Financial restated a “buy” rating and set a $55.00 price objective on shares of Verizon Communications in a research note on Thursday, January 30th. DZ Bank upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday, January 29th. Wolfe Research raised their price objective on Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Sanford C. Bernstein initiated coverage on Verizon Communications in a research note on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price objective on the stock. Finally, Royal Bank of Canada dropped their price objective on Verizon Communications from $46.00 to $42.00 in a research note on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.11.

Verizon Communications Stock Up 4.3 %

The stock has a 50 day moving average of $40.61 and a 200-day moving average of $41.84. The firm has a market capitalization of $194.20 billion, a P/E ratio of 11.14, a PEG ratio of 4.45 and a beta of 0.41. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63.

Verizon Communications (NYSE:VZ) last posted its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same period in the previous year, the business posted $1.08 EPS. Research analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 5.87%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s payout ratio is 65.46%.

Insider Transactions at Verizon Communications

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the completion of the sale, the executive vice president now owns 14,459 shares of the company’s stock, valued at $633,159.61. This represents a 40.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kyle Malady sold 11,085 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total value of $453,154.80. Following the completion of the sale, the chief executive officer now directly owns 14,590 shares of the company’s stock, valued at approximately $596,439.20. This represents a 43.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,085 shares of company stock valued at $2,020,895. 0.02% of the stock is owned by corporate insiders.

Institutional Trading of Verizon Communications

Several hedge funds and other institutional investors have recently bought and sold shares of the company. NCM Capital Management LLC boosted its stake in Verizon Communications by 1.4% in the fourth quarter. NCM Capital Management LLC now owns 18,390 shares of the cell phone carrier’s stock worth $735,000 after buying an additional 245 shares in the last quarter. First Personal Financial Services lifted its position in Verizon Communications by 0.3% in the third quarter. First Personal Financial Services now owns 91,092 shares of the cell phone carrier’s stock valued at $4,091,000 after purchasing an additional 250 shares during the last quarter. Encompass Wealth Advisors LLC lifted its position in Verizon Communications by 2.0% in the third quarter. Encompass Wealth Advisors LLC now owns 12,505 shares of the cell phone carrier’s stock valued at $562,000 after purchasing an additional 250 shares during the last quarter. Kirtland Hills Capital Management LLC lifted its position in Verizon Communications by 2.4% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier’s stock valued at $439,000 after purchasing an additional 252 shares during the last quarter. Finally, First Dallas Securities Inc. lifted its position in Verizon Communications by 0.8% in the third quarter. First Dallas Securities Inc. now owns 31,728 shares of the cell phone carrier’s stock valued at $1,425,000 after purchasing an additional 257 shares during the last quarter. 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).