Verizon Communications (NYSE:VZ) PT Lowered to $45.00

Verizon Communications (NYSE:VZ) had its price objective trimmed by JPMorgan Chase & Co. from $46.00 to $45.00 in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has a neutral rating on the cell phone carrier’s stock.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada reiterated a sector perform rating and issued a $42.00 target price on shares of Verizon Communications in a research note on Tuesday. Scotiabank lifted their target price on Verizon Communications from $45.50 to $46.50 and gave the stock a sector perform rating in a research note on Wednesday, July 10th. Wells Fargo & Company decreased their target price on Verizon Communications from $44.00 to $40.00 and set an equal weight rating on the stock in a report on Tuesday, April 23rd. Oppenheimer reaffirmed an outperform rating and set a $48.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. Finally, StockNews.com upgraded shares of Verizon Communications from a hold rating to a buy rating in a report on Saturday, May 4th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Verizon Communications presently has a consensus rating of Moderate Buy and a consensus price target of $45.68.

Verizon Communications Stock Up 0.4 %

VZ stock opened at $40.11 on Tuesday. Verizon Communications has a twelve month low of $30.14 and a twelve month high of $43.42. The company has a market cap of $168.83 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 3.62 and a beta of 0.41. The company has a quick ratio of 0.67, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. The business has a 50 day moving average price of $40.58 and a two-hundred day moving average price of $40.43.

Verizon Communications (NYSE:VZ) last released its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, meeting the consensus estimate of $1.15. The business had revenue of $32.80 billion during the quarter, compared to analysts’ expectations of $33.05 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The firm’s revenue was up .6% on a year-over-year basis. During the same period last year, the business earned $1.21 earnings per share. Analysts anticipate that Verizon Communications will post 4.58 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a $0.665 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.66 annualized dividend and a yield of 6.63%. Verizon Communications’s dividend payout ratio is presently 99.25%.

Institutional Trading of Verizon Communications

Several institutional investors have recently modified their holdings of VZ. Taylor Hoffman Wealth Management raised its stake in Verizon Communications by 32.9% during the fourth quarter. Taylor Hoffman Wealth Management now owns 9,353 shares of the cell phone carrier’s stock worth $353,000 after buying an additional 2,314 shares during the last quarter. Leo Wealth LLC acquired a new stake in Verizon Communications during the 4th quarter worth about $3,346,000. WealthTrust Axiom LLC raised its position in shares of Verizon Communications by 2.1% in the 4th quarter. WealthTrust Axiom LLC now owns 118,806 shares of the cell phone carrier’s stock worth $4,479,000 after acquiring an additional 2,422 shares in the last quarter. GFS Advisors LLC acquired a new position in shares of Verizon Communications in the 4th quarter valued at about $212,000. Finally, MBL Wealth LLC boosted its position in shares of Verizon Communications by 98.1% during the 4th quarter. MBL Wealth LLC now owns 15,029 shares of the cell phone carrier’s stock valued at $567,000 after purchasing an additional 7,442 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

About Verizon Communications

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).