Verizon Communications (NYSE:VZ) Stock Price Down 4.1% – Time to Sell?

Shares of Verizon Communications Inc. (NYSE:VZ) were down 4.1% during mid-day trading on Tuesday . The company traded as low as $40.75 and last traded at $41.90. Approximately 17,904,598 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 18,415,592 shares. The stock had previously closed at $43.70.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Citigroup lifted their target price on Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. KeyCorp downgraded Verizon Communications from an “overweight” rating to a “sector weight” rating in a research report on Thursday. UBS Group lifted their target price on Verizon Communications from $43.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group assumed coverage on Verizon Communications in a research report on Monday, July 1st. They set a “buy” rating and a $50.00 target price on the stock. Finally, Scotiabank lifted their target price on Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.37.

Verizon Communications Stock Up 3.3 %

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 company has a fifty day moving average price of $43.05 and a 200-day moving average price of $41.29. The stock has a market capitalization of $180.45 billion, a P/E ratio of 16.00, a PEG ratio of 4.02 and a beta of 0.42.

Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.01. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm had revenue of $33.30 billion for the quarter, compared to analysts’ expectations of $33.42 billion. During the same period in the previous year, the firm posted $1.22 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. As a group, research analysts forecast that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.678 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.33%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, October 10th. Verizon Communications’s payout ratio is 101.12%.

Institutional Investors Weigh In On Verizon Communications

Several large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in Verizon Communications by 7.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,177,775 shares of the cell phone carrier’s stock worth $142,650,000 after acquiring an additional 206,717 shares during the last quarter. Osborne Partners Capital Management LLC boosted its position in shares of Verizon Communications by 6.3% during the third quarter. Osborne Partners Capital Management LLC now owns 12,726 shares of the cell phone carrier’s stock valued at $572,000 after buying an additional 753 shares during the period. St. Johns Investment Management Company LLC boosted its position in shares of Verizon Communications by 4.5% during the third quarter. St. Johns Investment Management Company LLC now owns 12,960 shares of the cell phone carrier’s stock valued at $582,000 after buying an additional 561 shares during the period. BKM Wealth Management LLC boosted its position in shares of Verizon Communications by 69.8% during the third quarter. BKM Wealth Management LLC now owns 4,889 shares of the cell phone carrier’s stock valued at $220,000 after buying an additional 2,009 shares during the period. Finally, Burford Brothers Inc. boosted its position in shares of Verizon Communications by 14.1% during the third quarter. Burford Brothers Inc. now owns 41,700 shares of the cell phone carrier’s stock valued at $1,873,000 after buying an additional 5,165 shares during the period. 62.06% of the stock is owned by institutional investors.

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).