Verizon Communications Inc. (NYSE:VZ) Receives $50.03 Average PT from Brokerages

Shares of Verizon Communications Inc. (NYSE:VZGet Free Report) have earned a consensus rating of “Moderate Buy” from the twenty research firms that are currently covering the firm, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $50.3235.

A number of equities analysts have issued reports on the company. William Blair raised Verizon Communications to an “outperform” rating in a research note on Monday, February 2nd. Scotiabank upgraded Verizon Communications from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $50.25 to $54.50 in a report on Monday, March 9th. Williams Trading set a $54.00 target price on Verizon Communications in a research note on Monday, February 2nd. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $48.00 target price on shares of Verizon Communications in a report on Monday, February 2nd. Finally, Evercore boosted their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd.

Check Out Our Latest Analysis on VZ

Verizon Communications Stock Up 1.2%

Verizon Communications stock opened at $50.08 on Monday. Verizon Communications has a 52 week low of $38.39 and a 52 week high of $51.67. The stock has a market cap of $211.24 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 2.09 and a beta of 0.30. The company’s 50-day moving average price is $46.39 and its two-hundred day moving average price is $43.03. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32.

Verizon Communications (NYSE:VZGet Free Report) last posted its quarterly earnings data on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. The business had revenue of $36.38 billion during the quarter, compared to analysts’ expectations of $36.20 billion. During the same period last year, the firm posted $1.10 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. On average, analysts expect that Verizon Communications will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be issued a $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Friday, April 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.69. Verizon Communications’s payout ratio is presently 68.15%.

Insider Activity at Verizon Communications

In related news, SVP Mary-Lee Stillwell sold 8,569 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $50.00, for a total transaction of $428,450.00. Following the completion of the sale, the senior vice president directly owned 43,782 shares in the company, valued at approximately $2,189,100. This trade represents a 16.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Joseph J. Russo sold 9,579 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $44.88, for a total value of $429,905.52. Following the completion of the transaction, the executive vice president directly owned 44,045 shares in the company, valued at $1,976,739.60. This represents a 17.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 218,148 shares of company stock valued at $10,780,356 over the last ninety days. Insiders own 0.10% of the company’s stock.

Institutional Trading of Verizon Communications

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Verizon Communications in the fourth quarter worth approximately $2,357,158,000. Bank of New York Mellon Corp grew its position in Verizon Communications by 31.2% during the 4th quarter. Bank of New York Mellon Corp now owns 31,584,162 shares of the cell phone carrier’s stock worth $1,286,423,000 after purchasing an additional 7,509,055 shares in the last quarter. State Street Corp raised its stake in Verizon Communications by 3.5% during the 4th quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock valued at $9,080,810,000 after purchasing an additional 7,461,335 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Verizon Communications by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier’s stock valued at $4,747,930,000 after purchasing an additional 5,851,715 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Verizon Communications by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier’s stock worth $15,453,058,000 after buying an additional 5,497,598 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Key Verizon Communications News

Here are the key news stories impacting Verizon Communications this week:

Verizon Communications Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Verizon Communications (NYSE:VZ)

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