Verizon Communications (NYSE:VZ) Shares Up 0.7% – Should You Buy?

Verizon Communications Inc. (NYSE:VZ)’s share price was up 0.7% on Friday . The company traded as high as $41.32 and last traded at $41.15. Approximately 3,968,568 shares traded hands during trading, a decline of 79% from the average daily volume of 18,517,395 shares. The stock had previously closed at $40.87.

Wall Street Analyst Weigh In

A number of research analysts have commented on VZ shares. KeyCorp lowered Verizon Communications from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. lowered their price target on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Citigroup increased their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Scotiabank boosted their target price on shares of Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Finally, Raymond James lifted their price objective on Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.37.

Verizon Communications Trading Up 1.2 %

The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.62 and a current ratio of 0.66. The company has a market capitalization of $174.19 billion, a PE ratio of 17.74, a PEG ratio of 2.99 and a beta of 0.43. The stock has a fifty day moving average of $43.02 and a 200 day moving average of $41.41.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The company had revenue of $33.30 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter in the prior year, the firm earned $1.22 earnings per share. Verizon Communications’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.61 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.678 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.55%. Verizon Communications’s dividend payout ratio is presently 116.81%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Alliance Wealth Advisors LLC boosted its position in Verizon Communications by 1.4% during the second quarter. Alliance Wealth Advisors LLC now owns 17,760 shares of the cell phone carrier’s stock worth $732,000 after acquiring an additional 241 shares during the last quarter. Fermata Advisors LLC grew its position in Verizon Communications by 4.5% in the third quarter. Fermata Advisors LLC now owns 5,626 shares of the cell phone carrier’s stock worth $253,000 after acquiring an additional 243 shares during the period. Austin Private Wealth LLC increased its stake in Verizon Communications by 3.0% during the third quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier’s stock worth $379,000 after acquiring an additional 243 shares during the last quarter. Semmax Financial Advisors Inc. lifted its stake in shares of Verizon Communications by 0.4% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 54,926 shares of the cell phone carrier’s stock valued at $2,240,000 after purchasing an additional 246 shares during the last quarter. Finally, Cary Street Partners Asset Management LLC increased its position in shares of Verizon Communications by 3.4% during the 3rd quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock worth $343,000 after purchasing an additional 249 shares during 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).