Verizon Communications (NYSE:VZ) Stock Price Down 2% – Should You Sell?

Shares of Verizon Communications Inc. (NYSE:VZ) were down 2% during mid-day trading on Wednesday . The company traded as low as $45.70 and last traded at $47.2060. Approximately 41,237,980 shares were traded during mid-day trading, an increase of 41% from the average session volume of 29,299,283 shares. The stock had previously closed at $48.19.

Wall Street Analysts Forecast Growth

VZ has been the subject of several recent research reports. Dbs Bank cut Verizon Communications from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. TD Cowen upped their target price on Verizon Communications from $54.00 to $56.00 and gave the company a “buy” rating in a report on Monday. Royal Bank Of Canada raised their target price on Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Monday. BNP Paribas Exane reduced their price target on Verizon Communications from $46.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $50.84.

Verizon Communications Trading Up 0.1%

The stock has a market cap of $192.81 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.32 and a beta of 0.26. The company’s 50-day moving average price is $45.35 and its 200 day moving average price is $46.44. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.57 and a current ratio of 0.60.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.03. The company had revenue of $34.25 billion during the quarter, compared to analyst estimates of $35.16 billion. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, sell-side analysts forecast that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a dividend of $0.7075 per share. The ex-dividend date is Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a dividend yield of 6.1%. Verizon Communications’s dividend payout ratio is currently 73.70%.

Institutional Trading of Verizon Communications

Several institutional investors and hedge funds have recently bought and sold shares of VZ. USS Investment Management Ltd increased its position in shares of Verizon Communications by 4.6% during the first quarter. USS Investment Management Ltd now owns 713,156 shares of the cell phone carrier’s stock worth $35,790,000 after acquiring an additional 31,354 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Verizon Communications by 41.0% in the fourth quarter. Teacher Retirement System of Texas now owns 2,197,366 shares of the cell phone carrier’s stock valued at $89,499,000 after acquiring an additional 639,380 shares in the last quarter. Clarity Financial LLC boosted its holdings in Verizon Communications by 697.0% in the fourth quarter. Clarity Financial LLC now owns 471,127 shares of the cell phone carrier’s stock valued at $19,189,000 after purchasing an additional 412,018 shares during the period. Cibc World Market Inc. boosted its holdings in Verizon Communications by 15.3% in the fourth quarter. Cibc World Market Inc. now owns 2,382,975 shares of the cell phone carrier’s stock valued at $97,059,000 after purchasing an additional 316,854 shares during the period. Finally, Keudell Morrison Wealth Management acquired a new position in Verizon Communications during the 4th quarter worth $2,171,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

About Verizon Communications

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.