Shares of Verizon Communications Inc. (NYSE:VZ) have been assigned a consensus recommendation of “Hold” from the thirty analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, twenty-one have given a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $51.17.
Several analysts have weighed in on VZ shares. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Verizon Communications in a research note on Wednesday, June 28th. Vetr upgraded Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 price target on the stock in a research note on Wednesday, July 5th. Zacks Investment Research upgraded Verizon Communications from a “sell” rating to a “hold” rating in a research note on Friday, July 7th. BidaskClub upgraded Verizon Communications from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Cowen and Company reiterated a “hold” rating and set a $49.00 price target on shares of Verizon Communications in a research note on Wednesday, July 19th.
Verizon Communications (NYSE VZ) traded up 0.18% during midday trading on Friday, hitting $49.14. The company had a trading volume of 10,843,879 shares. The stock has a 50 day moving average price of $48.46 and a 200-day moving average price of $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 capitalization of $200.46 billion, a PE ratio of 12.63 and a beta of 0.56.
The company also recently announced 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. The ex-dividend date of this dividend is Friday, October 6th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.80%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s dividend payout ratio is presently 60.51%.
COPYRIGHT VIOLATION WARNING: “Verizon Communications Inc. (VZ) Receives $51.17 Average PT from Brokerages” was posted by Community Financial News and is owned by of Community Financial News. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.com-unik.info/2017/10/10/verizon-communications-inc-vz-receives-51-17-average-pt-from-brokerages.html.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $47.74, for a total transaction of $29,121.40. Following the completion of the transaction, the executive vice president now owns 7,819 shares of the company’s stock, valued at $373,279.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 1,830 shares of company stock valued at $88,828 in the last three months. Insiders own 0.13% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Franklin Parlapiano Turner & Welch LLC acquired a new position in shares of Verizon Communications during the first quarter valued at approximately $136,000. American Beacon Advisors Inc. acquired a new position in shares of Verizon Communications during the first quarter valued at approximately $140,000. Proficio Capital Partners LLC raised its holdings in shares of Verizon Communications by 139.8% during the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after acquiring an additional 1,841 shares during the last quarter. Private Vista LLC raised its holdings in shares of Verizon Communications by 3,339.1% during the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after acquiring an additional 378,225 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc acquired a new position in shares of Verizon Communications during the second quarter valued at approximately $156,000. 62.24% of the stock is owned by institutional investors and hedge funds.
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.
What are top analysts saying about Verizon Communications Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Verizon Communications Inc. and related companies.