Verizon Communications Inc. (NYSE:VZ) announced a quarterly dividend on Thursday, December 7th, RTT News reports. Shareholders of record on Wednesday, January 10th will be given a dividend of 0.59 per share by the cell phone carrier on Thursday, February 1st. This represents a $2.36 dividend on an annualized basis and a yield of 4.66%.

Verizon Communications has raised its dividend by an average of 3.1% per year over the last three years and has raised its dividend every year for the last 10 years. Verizon Communications has a dividend payout ratio of 62.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Verizon Communications to earn $3.88 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 60.8%.

Verizon Communications (NYSE VZ) traded down $0.24 during trading on Thursday, reaching $50.68. The company’s stock had a trading volume of 17,296,600 shares, compared to its average volume of 15,647,300. Verizon Communications has a 12 month low of $42.80 and a 12 month high of $54.83. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. The firm has a market capitalization of $206,380.00, a P/E ratio of 13.58, a P/E/G ratio of 4.78 and a beta of 0.57.

Verizon Communications (NYSE:VZ) last released its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The company had revenue of $31.70 billion during the quarter, compared to the consensus estimate of $31.45 billion. During the same quarter last year, the company earned $1.01 earnings per share. Verizon Communications’s quarterly revenue was up 2.5% compared to the same quarter last year. equities analysts anticipate that Verizon Communications will post 3.77 EPS for the current fiscal year.

In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $48.62, for a total transaction of $29,658.20. Following the completion of the sale, the executive vice president now owns 5,989 shares in the company, valued at approximately $291,185.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 1,830 shares of company stock valued at $88,609. 0.13% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Glassman Wealth Services grew its holdings in Verizon Communications by 0.4% in the 2nd quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock valued at $345,000 after buying an additional 31 shares during the period. DF Dent & Co. Inc. grew its holdings in Verizon Communications by 0.6% in the 2nd quarter. DF Dent & Co. Inc. now owns 8,506 shares of the cell phone carrier’s stock valued at $380,000 after buying an additional 50 shares during the period. Keel Point LLC grew its holdings in Verizon Communications by 0.6% in the 2nd quarter. Keel Point LLC now owns 12,359 shares of the cell phone carrier’s stock valued at $552,000 after buying an additional 78 shares during the period. Balentine LLC grew its holdings in Verizon Communications by 1.7% in the 2nd quarter. Balentine LLC now owns 5,389 shares of the cell phone carrier’s stock valued at $241,000 after buying an additional 91 shares during the period. Finally, Miles Capital Inc. grew its holdings in Verizon Communications by 2.8% in the 2nd quarter. Miles Capital Inc. now owns 4,653 shares of the cell phone carrier’s stock valued at $208,000 after buying an additional 127 shares during the period. Hedge funds and other institutional investors own 63.37% of the company’s stock.

A number of research analysts have recently weighed in on VZ shares. ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Moffett Nathanson restated a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. Bank of America set a $52.00 price target on Verizon Communications and gave the company a “buy” rating in a research report on Friday, October 20th. Macquarie restated a “hold” rating and issued a $52.00 price target on shares of Verizon Communications in a research report on Sunday, October 22nd. Finally, KeyCorp restated a “hold” rating on shares of Verizon Communications in a research report on Saturday, October 21st. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $51.25.

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About Verizon Communications

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.

Dividend History for Verizon Communications (NYSE:VZ)

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