16 hours Ago By ABMN Staff
Verizon Communications Inc. ( NYSE:VZ – Get Free Report ) shares rose 0.5% during mid-day trading on Monday .
The company traded as high as $44.94 and last traded at $44.67.
Approximately 4,756,631 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 18,615,221 shares. The stock had previously closed at $44.43.
Analyst Upgrades and Downgrades VZ has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price target on Verizon Communications from $46.
00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. TD Cowen lifted their target price on shares of Verizon Communications from $48.
00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $42.
00 price target on shares of Verizon Communications in a research report on Monday, September 9th. Scotiabank lifted their price target on shares of Verizon Communications from $45.50 to $46.
50 and gave the stock a “sector perform” rating in a report on Wednesday, July 10th. Finally, KeyCorp decreased their price objective on Verizon Communications from $46.00 to $44.
00 and set an “overweight” rating for the company in a report on Friday, September 6th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.
66. View Our Latest Analysis on Verizon Communications Verizon Communications Stock Down 0.4 % Verizon Communications ( NYSE:VZ – Get Free Report ) last announced its quarterly earnings data on Monday, July 22nd.
The cell phone carrier reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15.
The company had revenue of $32.80 billion during the quarter, compared to the consensus estimate of $33.05 billion.
Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%.
The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.
21 EPS. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.
58 earnings per share for the current year. Verizon Communications Increases Dividend The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.
678 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.
18%. The ex-dividend date of this dividend is Thursday, October 10th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.
67. Verizon Communications’s dividend payout ratio is 101.12%.
Institutional Inflows and Outflows Several institutional investors and hedge funds have recently added to or reduced their stakes in VZ. University of Texas Texas AM Investment Management Co. increased its holdings in shares of Verizon Communications by 101.
3% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 126,253 shares of the cell phone carrier’s stock valued at $5,207,000 after acquiring an additional 63,539 shares in the last quarter.
Verity & Verity LLC lifted its holdings in shares of Verizon Communications by 1.2% in the 2nd quarter. Verity & Verity LLC now owns 267,777 shares of the cell phone carrier’s stock worth $11,043,000 after purchasing an additional 3,069 shares in the last quarter.
Heritage Wealth Management Inc. acquired a new stake in Verizon Communications in the 2nd quarter valued at $893,000. Sanctuary Advisors LLC bought a new stake in Verizon Communications during the 2nd quarter valued at $33,532,000.
Finally, Strategic Investment Solutions Inc. IL acquired a new position in Verizon Communications during the second quarter worth $178,000. Institutional investors own 62.
06% of the company’s stock. About Verizon Communications ( Get Free Report ) 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).
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