Verizon Communications Sees Unusually High Options Volume (NYSE:VZ)

Verizon Communications Inc. (NYSE:VZGet Free Report) was the recipient of unusually large options trading on Tuesday. Stock investors bought 122,650 call options on the company. This represents an increase of 149% compared to the average daily volume of 49,272 call options.

Verizon Communications Stock Performance

Shares of VZ opened at $41.30 on Wednesday. Verizon Communications has a one year low of $30.14 and a one year high of $43.42. The company has a 50-day moving average of $40.33 and a two-hundred day moving average of $40.25. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.71 and a quick ratio of 0.67. The stock has a market cap of $173.84 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 3.75 and a beta of 0.41.

Verizon Communications (NYSE:VZGet Free Report) last announced its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.03. The company had revenue of $33 billion for the quarter, compared to the consensus estimate of $33.23 billion. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The company’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $1.20 EPS. On average, equities research analysts expect that Verizon Communications will post 4.58 earnings per share for the current year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.44%. The ex-dividend date is Wednesday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is 99.25%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in VZ. LFA Lugano Financial Advisors SA lifted its stake in Verizon Communications by 627.8% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock valued at $25,000 after acquiring an additional 565 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in Verizon Communications during the fourth quarter worth $25,000. Koesten Hirschmann & Crabtree INC. bought a new position in Verizon Communications during the first quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Verizon Communications in the fourth quarter worth about $29,000. Finally, Morton Brown Family Wealth LLC boosted its position in Verizon Communications by 130.1% during the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after purchasing an additional 488 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VZ. Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of Verizon Communications in a report on Tuesday, April 23rd. Royal Bank of Canada lifted their price target on Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a report on Tuesday, April 2nd. Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and raised their target price for the company from $33.00 to $39.00 in a research report on Friday, March 22nd. Tigress Financial boosted their price target on Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.14.

Get Our Latest Research Report on VZ

Verizon Communications Company Profile

(Get Free Report)

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).

Further Reading

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