Verizon Communications (NYSE:VZ) Shares Down 1.1% – Here’s Why

Shares of Verizon Communications Inc. (NYSE:VZ) fell 1.1% during trading on Friday . The company traded as low as $43.01 and last traded at $43.25. 4,549,178 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 25,092,141 shares. The stock had previously closed at $43.71.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on VZ. StockNews.com lowered shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Thursday. DZ Bank upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Wednesday, January 29th. Royal Bank of Canada reduced their price objective on Verizon Communications from $46.00 to $42.00 in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Finally, Argus upgraded shares of Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. Eleven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.11.

Verizon Communications Stock Performance

The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The business’s fifty day simple moving average is $40.94 and its 200-day simple moving average is $41.91. The firm has a market cap of $183.84 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share 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 firm earned $1.08 earnings per share. As a group, sell-side analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The firm 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 $0.6775 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.21%. Verizon Communications’s dividend payout ratio (DPR) is presently 65.46%.

Insiders Place Their Bets

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the 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 completion of the sale, the executive vice president now owns 14,459 shares in the company, valued at approximately $633,159.61. This represents a 40.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kyle Malady sold 8,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $39.88, for a total transaction of $319,040.00. Following the transaction, 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. In 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 insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Verizon Communications by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 363,824,525 shares of the cell phone carrier’s stock valued at $14,549,343,000 after buying an additional 5,697,337 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Verizon Communications by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 108,694,230 shares of the cell phone carrier’s stock valued at $4,346,682,000 after acquiring an additional 7,421,148 shares during the last quarter. Geode Capital Management LLC increased its position in Verizon Communications by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 96,823,092 shares of the cell phone carrier’s stock valued at $3,862,441,000 after buying an additional 998,847 shares in the last quarter. Norges Bank purchased a new stake in Verizon Communications during the 4th quarter worth approximately $2,300,846,000. Finally, Northern Trust Corp grew its holdings in shares of Verizon Communications by 12.4% during the fourth quarter. Northern Trust Corp now owns 45,043,310 shares of the cell phone carrier’s stock valued at $1,801,282,000 after buying an additional 4,951,733 shares during the last quarter. 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).