Verizon Communications Inc. (NYSE:VZ) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Verizon Communications Inc. (NYSE:VZ) has earned a consensus rating of “Moderate Buy” from the eighteen research firms that are currently covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $47.35.

Several brokerages recently issued reports on VZ. Wolfe Research cut shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, March 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price target (up from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. StockNews.com downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th. Argus upgraded Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. Finally, TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $40.54, for a total transaction 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. This represents a 30.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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 that occurred on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 54,085 shares of company stock valued at $2,233,295 in the last 90 days. Company insiders own 0.10% of the company’s stock.

Institutional Trading of Verizon Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bernard Wealth Management Corp. lifted its stake in Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 243 shares during the last quarter. Cherry Tree Wealth Management LLC boosted its holdings in shares of Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock valued at $26,000 after buying an additional 244 shares in the last quarter. Garde Capital Inc. purchased a new position in shares of Verizon Communications in the 1st quarter valued at $26,000. Mainstream Capital Management LLC acquired a new stake in Verizon Communications during the 4th quarter worth $28,000. Finally, Legend Financial Advisors Inc. lifted its position in Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after acquiring an additional 320 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Price Performance

NYSE:VZ opened at $42.85 on Friday. The stock has a market capitalization of $180.39 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41. Verizon Communications has a 52 week low of $37.59 and a 52 week high of $47.36. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The stock’s 50-day moving average price is $43.63 and its 200-day moving average price is $41.99.

Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.04. Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. The business had revenue of $33.50 billion during the quarter, compared to the consensus estimate of $33.31 billion. As a group, equities analysts expect that Verizon Communications will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a yield of 6.32%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s payout ratio is currently 65.46%.

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).