Verizon Communications (NYSE:VZ) Trading Up 3.2% – What’s Next?
by Tristan Rich · The Markets DailyVerizon Communications Inc. (NYSE:VZ – Get Free Report)’s share price traded up 3.2% during mid-day trading on Wednesday . The stock traded as high as $49.14 and last traded at $48.8950. 48,843,899 shares were traded during trading, an increase of 31% from the average session volume of 37,263,316 shares. The stock had previously closed at $47.39.
Wall Street Analyst Weigh In
VZ has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Sanford C. Bernstein reissued a “market perform” rating and set a $48.00 price objective on shares of Verizon Communications in a report on Monday, February 2nd. Morgan Stanley raised their target price on Verizon Communications from $47.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, February 2nd. KeyCorp reissued a “sector weight” rating on shares of Verizon Communications in a report on Monday, January 26th. Finally, Scotiabank boosted their price objective on Verizon Communications from $48.00 to $50.25 and gave the company a “sector perform” rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.02.
Check Out Our Latest Research Report on Verizon Communications
Verizon Communications Price Performance
The business has a 50 day simple moving average of $41.13 and a two-hundred day simple moving average of $41.79. The firm has a market capitalization of $206.16 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 1.98 and a beta of 0.33. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.87 and a current ratio of 0.91.
Verizon Communications (NYSE:VZ – Get Free Report) last announced its earnings results on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. The company had revenue of $36.38 billion during the quarter, compared to analyst estimates of $36.20 billion. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. On average, sell-side analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.
Verizon Communications Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be paid a $0.7075 dividend. The ex-dividend date of this dividend is Friday, April 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.69. This represents a $2.83 dividend on an annualized basis and a yield of 5.8%. Verizon Communications’s payout ratio is currently 69.88%.
Insider Buying and Selling
In related news, EVP Joseph J. Russo sold 9,579 shares of Verizon Communications stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $44.88, for a total transaction of $429,905.52. Following the completion of the transaction, the executive vice president directly owned 44,045 shares of the company’s stock, valued at $1,976,739.60. This trade represents a 17.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.10% of the company’s stock.
Institutional Trading of Verizon Communications
Several institutional investors and hedge funds have recently modified their holdings of the company. Advantage Trust Co increased its holdings in shares of Verizon Communications by 549.5% in the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 500 shares during the last quarter. Strengthening Families & Communities LLC raised its position in Verizon Communications by 490.0% during the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 539 shares during the period. TruNorth Capital Management LLC lifted its stake in shares of Verizon Communications by 95.3% in the 3rd quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock valued at $27,000 after purchasing an additional 305 shares during the last quarter. Holos Integrated Wealth LLC bought a new stake in shares of Verizon Communications in the 4th quarter valued at approximately $28,000. Finally, Foster Dykema Cabot & Partners LLC purchased a new position in shares of Verizon Communications in the 3rd quarter worth approximately $29,000. 62.06% of the stock is currently owned by 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.