Verizon Communications Inc. (NYSE:VZ)‘s stock had its “hold” rating restated by investment analysts at KeyCorp in a research note issued on Wednesday.

Several other research analysts have also recently weighed in on the company. Robert W. Baird reiterated a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a research report on Wednesday, October 4th. Cowen and Company reiterated a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a research report on Tuesday, September 19th. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. BidaskClub upgraded Verizon Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Royal Bank Of Canada increased their price objective on Verizon Communications from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Verizon Communications has a consensus rating of “Hold” and a consensus price target of $52.86.

Verizon Communications (NYSE VZ) traded down 1.218% during trading on Wednesday, hitting $48.265. 11,423,801 shares of the stock were exchanged. The stock has a market cap of $196.89 billion, a price-to-earnings ratio of 12.407 and a beta of 0.56. The firm’s 50 day moving average price is $48.48 and its 200-day moving average price is $47.04. Verizon Communications has a 1-year low of $42.80 and a 1-year high of $54.83.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. The firm had revenue of $30.55 billion for the quarter, compared to analysts’ expectations of $29.84 billion. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 EPS. On average, analysts anticipate that Verizon Communications will post $3.76 EPS for the current year.

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In other news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $48.65, for a total transaction of $29,676.50. Following the sale, the executive vice president now directly owns 7,209 shares of the company’s stock, valued at $350,717.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,830 shares of company stock worth $88,828 over the last three months. Insiders own 0.13% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of VZ. Capital Research Global Investors raised its position in shares of Verizon Communications by 15.1% during the second quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock worth $6,851,202,000 after acquiring an additional 20,070,391 shares during the last quarter. FMR LLC raised its position in shares of Verizon Communications by 15.0% during the second quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock worth $2,761,466,000 after acquiring an additional 8,077,275 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Verizon Communications by 2.1% during the second quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock worth $12,634,070,000 after acquiring an additional 5,837,702 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Verizon Communications by 19.9% during the second quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock worth $974,515,000 after acquiring an additional 3,623,182 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Verizon Communications by 52.6% during the second quarter. Principal Financial Group Inc. now owns 9,014,846 shares of the cell phone carrier’s stock worth $402,604,000 after acquiring an additional 3,107,054 shares during the last quarter. Institutional investors own 62.24% of the company’s stock.

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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