Verizon Communications (NYSE:VZ) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Verizon Communications (NYSE:VZ) from a buy rating to a strong-buy rating in a research report released on Wednesday morning.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a report on Friday, January 24th. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Sanford C. Bernstein began coverage on Verizon Communications in a research report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price target on the stock. Tigress Financial reissued a “buy” rating and issued a $55.00 price objective on shares of Verizon Communications in a report on Thursday, January 30th. Finally, Scotiabank upped their target price on Verizon Communications from $47.50 to $48.00 and gave the stock a “sector perform” rating in a research note on Monday. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.11.

Verizon Communications Stock Down 0.1 %

Shares of VZ opened at $42.83 on Wednesday. The stock’s 50-day moving average price is $40.40 and its 200-day moving average price is $41.77. 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 company has a market capitalization of $180.32 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 4.45 and a beta of 0.45. Verizon Communications has a 52 week low of $37.59 and a 52 week high of $45.36.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data 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 return on equity of 19.80% and a net margin of 12.99%. During the same period in the previous year, the business posted $1.08 earnings per share. On average, sell-side analysts predict that Verizon Communications will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a yield of 6.33%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s payout ratio is currently 65.46%.

Insiders Place Their Bets

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of Verizon Communications stock in a transaction 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 sale, the executive vice president now owns 14,459 shares in the company, valued at $633,159.61. The trade was a 40.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kyle Malady sold 8,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.88, for a total value of $319,040.00. Following the sale, the chief executive officer now directly owns 6,590 shares of the company’s stock, valued at $262,809.20. The trade was a 54.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,085 shares of company stock valued at $2,020,895 over the last ninety days. Company insiders own 0.02% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Mainstream Capital Management LLC acquired a new position in shares of Verizon Communications in the 4th quarter worth approximately $28,000. Capital Performance Advisors LLP purchased a new stake in Verizon Communications in the third quarter valued at approximately $31,000. Legend Financial Advisors Inc. lifted its stake in Verizon Communications by 69.6% during the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 320 shares in the last quarter. Graney & King LLC purchased a new position in shares of Verizon Communications during the fourth quarter worth $32,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Verizon Communications in the fourth quarter valued at $32,000. 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).