Verizon Communications (NYSE:VZ) Shares Down 1.4% – Here’s What Happened

by · The Cerbat Gem

Verizon Communications Inc. (NYSE:VZ – Get Free Report) dropped 1.4% on Tuesday. The company traded as low as $45.98 and last traded at $46.03. Approximately 17,841,936 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 27,183,627 shares. The stock had previously closed at $46.68.

Wall Street Analyst Weigh In

Several research firms recently issued reports on VZ. 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 research report on Tuesday, July 14th. Scotiabank increased their price objective on Verizon Communications from $51.50 to $52.50 and gave the company a “sector outperform” rating in a research note on Monday, July 27th. TD Cowen raised their target price on shares of Verizon Communications from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Verizon Communications in a research note on Wednesday, August 26th. Finally, Wells Fargo & Company upped their price target on shares of Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Eight investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $50.97.

View Our Latest Report on Verizon Communications

Verizon Communications Trading Up 0.1%

The firm has a market cap of $190.70 billion, a PE ratio of 11.94, a PEG ratio of 1.56 and a beta of 0.26. The firm has a fifty day simple moving average of $48.36 and a two-hundred day simple moving average of $47.29. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36.

Verizon Communications (NYSE:VZ – Get Free Report) last announced its earnings results on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The company had revenue of $34.25 billion during the quarter, compared to the consensus estimate of $35.16 billion. During the same quarter in the prior year, the company earned $1.22 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Equities analysts forecast that Verizon Communications Inc. will post 5.03 EPS for the current year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 9th will be issued a $0.7075 dividend. The ex-dividend date is Friday, October 9th. This represents a $2.83 annualized dividend and a yield of 6.2%. Verizon Communications’s dividend payout ratio is 73.70%.

Insider Activity at Verizon Communications

In other news, CEO Kyle Malady sold 1,100 shares of Verizon Communications stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $46.40, for a total transaction of $51,040.00. Following the sale, the chief executive officer owned 103,266 shares of the company’s stock, valued at approximately $4,791,542.40. The trade was a 1.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 6,600 shares of company stock valued at $322,597. Company insiders own 0.03% of the company’s stock.

Hedge Funds Weigh In On Verizon Communications

Institutional investors have recently bought and sold shares of the stock. Robinswood Financial LLC bought a new position in shares of Verizon Communications in the 1st quarter worth approximately $27,000. Lam Group Inc. bought a new stake in shares of Verizon Communications during the first quarter valued at approximately $28,000. Gill Capital Partners LLC grew its stake in Verizon Communications by 74.6% in the second quarter. Gill Capital Partners LLC now owns 620 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 265 shares during the period. Sarver Vrooman Wealth Advisors grew its stake in Verizon Communications by 173.0% in the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock worth $29,000 after purchasing an additional 448 shares during the period. Finally, Bare Financial Services Inc grew its stake in Verizon Communications by 37.4% in the second quarter. Bare Financial Services Inc now owns 841 shares of the cell phone carrier’s stock worth $36,000 after purchasing an additional 229 shares during the period. 62.06% of the stock is owned by institutional investors.

About Verizon Communications

(Get Free Report)

Verizon Communications Inc is a telecommunications company headquartered in New York City and listed on the New York Stock Exchange under the symbol VZ. The company was formed in 2000 through the merger of Bell Atlantic and GTE and has developed into one of the largest communications providers in the United States.

Verizon’s consumer business provides wireless voice and data services, smartphones and other connected devices, home internet, broadband, and related communications products.

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