SunTrust Banks, Inc. reissued their hold rating on shares of Verizon Communications Inc. (NYSE:VZ) in a report issued on Friday morning. They currently have a $50.00 target price on the cell phone carrier’s stock.

Several other brokerages also recently issued reports on VZ. Cowen and Company reissued a hold rating and set a $49.00 price objective on shares of Verizon Communications in a research note on Wednesday, July 19th. Moffett Nathanson reaffirmed a buy rating on shares of Verizon Communications in a research note on Thursday, October 12th. Barclays PLC cut their price target on shares of Verizon Communications from $49.00 to $47.00 and set an equal weight rating on the stock in a research note on Friday, July 14th. Jefferies Group LLC reaffirmed a hold rating and set a $50.00 price target on shares of Verizon Communications in a research note on Monday, July 3rd. Finally, KeyCorp reaffirmed a hold rating on shares of Verizon Communications in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Hold and a consensus price target of $53.10.

Shares of Verizon Communications (NYSE VZ) opened at 49.53 on Friday. The stock’s 50 day moving average is $48.52 and its 200 day moving average is $47.03. Verizon Communications has a 52-week low of $42.80 and a 52-week high of $54.83. The stock has a market cap of $202.05 billion, a price-to-earnings ratio of 12.73 and a beta of 0.56.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.98. The business had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 earnings per share. On average, equities analysts expect that Verizon Communications will post $3.76 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a dividend of $0.59 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend is Friday, October 6th. Verizon Communications’s dividend payout ratio (DPR) is currently 60.51%.

In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $48.65, for a total transaction of $29,676.50. Following the completion of the transaction, the executive vice president now directly owns 7,209 shares of the company’s stock, valued at approximately $350,717.85. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 1,830 shares of company stock valued at $88,828. 0.13% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Vantage Financial Partners Ltd. Inc. acquired a new position in Verizon Communications during the 2nd quarter worth $623,000. Franklin Parlapiano Turner & Welch LLC acquired a new position in Verizon Communications during the 1st quarter worth $136,000. American Beacon Advisors Inc. acquired a new position in Verizon Communications during the 1st quarter worth $140,000. Proficio Capital Partners LLC grew its holdings in Verizon Communications by 139.8% during the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after acquiring an additional 1,841 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc acquired a new position in Verizon Communications during the 2nd quarter worth $156,000. 62.22% of the stock is owned by institutional investors.

Verizon Communications Company Profile

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

Analyst Recommendations for Verizon Communications (NYSE:VZ)

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