Verizon Communications (NYSE:VZ) Price Target Raised to $47.00

Verizon Communications (NYSE:VZ) had its target price raised by Barclays from $43.00 to $47.00 in a report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the cell phone carrier’s stock.

VZ has been the subject of a number of other research reports. Morgan Stanley upped their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, February 2nd. Citigroup boosted their price objective on shares of Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Weiss Ratings upgraded Verizon Communications from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. Williams Trading set a $54.00 target price on Verizon Communications in a report on Monday, February 2nd. Finally, Wells Fargo & Company lifted their price target on Verizon Communications from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.56.

Verizon Communications Stock Up 0.1%

Shares of NYSE VZ opened at $49.46 on Tuesday. The stock has a market capitalization of $208.59 billion, a P/E ratio of 12.21, a PEG ratio of 2.07 and a beta of 0.29. The stock’s fifty day moving average is $48.36 and its 200 day moving average is $43.44. Verizon Communications has a 52 week low of $38.39 and a 52 week high of $51.68. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.87 and a current ratio of 0.91.

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

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be given a dividend of $0.7075 per share. The ex-dividend date is Friday, April 10th. This represents a $2.83 dividend on an annualized basis and a yield of 5.7%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.69. Verizon Communications’s dividend payout ratio is currently 68.15%.

Insider Activity at Verizon Communications

In other Verizon Communications news, SVP Mary-Lee Stillwell sold 8,569 shares of the business’s stock in a transaction 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 sale, the senior vice president owned 43,782 shares of the company’s stock, valued at approximately $2,189,100. The trade was a 16.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 stock was sold at an average price of $44.88, for a total transaction of $429,905.52. Following the transaction, the executive vice president owned 44,045 shares of the company’s stock, valued at $1,976,739.60. This trade represents a 17.86% decrease in their ownership of the stock. 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 in the last quarter. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Verizon Communications

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

About Verizon Communications

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.