Tigress Financial Reaffirms “Hold” Rating for Verizon Communications (NYSE:VZ)

Tigress Financial reiterated their hold rating on shares of Verizon Communications (NYSE:VZ) in a research report report published on Thursday morning, AnalystRatings.com reports.

A number of other equities research analysts have also recently issued reports on VZ. HSBC cut Verizon Communications from a buy rating to a hold rating and set a $65.00 price objective on the stock. in a research note on Thursday, November 14th. Deutsche Bank initiated coverage on Verizon Communications in a research note on Wednesday. They set a hold rating and a $63.00 price objective on the stock. Zacks Investment Research cut Verizon Communications from a buy rating to a hold rating and set a $62.00 price objective on the stock. in a research note on Saturday, January 11th. New Street Research reiterated a buy rating on shares of Verizon Communications in a research note on Friday, January 10th. Finally, ValuEngine upgraded Verizon Communications from a sell rating to a hold rating in a research note on Thursday, October 24th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $63.41.

NYSE VZ opened at $60.28 on Thursday. The stock has a market capitalization of $250.26 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 3.70 and a beta of 0.51. The stock’s 50 day moving average price is $60.63 and its two-hundred day moving average price is $59.13. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.85 and a current ratio of 0.89. Verizon Communications has a 52 week low of $52.28 and a 52 week high of $62.22.

Verizon Communications (NYSE:VZ) last released its earnings results on Friday, October 25th. The cell phone carrier reported $1.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.01. The firm had revenue of $32.89 billion for the quarter, compared to analysts’ expectations of $32.74 billion. Verizon Communications had a return on equity of 34.50% and a net margin of 12.26%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.22 EPS. On average, equities research analysts forecast that Verizon Communications will post 4.83 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Thursday, January 9th. Verizon Communications’s payout ratio is presently 52.23%.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,349 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $60.42, for a total value of $81,506.58. Following the transaction, the executive vice president now directly owns 19,983 shares of the company’s stock, valued at approximately $1,207,372.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Craig L. Silliman sold 1,346 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $59.55, for a total value of $80,154.30. Following the completion of the transaction, the executive vice president now directly owns 18,637 shares in the company, valued at $1,109,833.35. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of Verizon Communications by 1.7% during the 2nd quarter. BlackRock Inc. now owns 317,036,667 shares of the cell phone carrier’s stock worth $18,112,307,000 after purchasing an additional 5,319,802 shares in the last quarter. State Street Corp lifted its position in shares of Verizon Communications by 0.3% during the 3rd quarter. State Street Corp now owns 162,854,317 shares of the cell phone carrier’s stock worth $9,829,887,000 after buying an additional 509,082 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Verizon Communications by 14.3% during the 3rd quarter. California Public Employees Retirement System now owns 16,926,517 shares of the cell phone carrier’s stock worth $1,021,685,000 after buying an additional 2,123,395 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Verizon Communications by 0.5% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 16,914,854 shares of the cell phone carrier’s stock worth $1,020,981,000 after buying an additional 83,608 shares during the last quarter. Finally, Eaton Vance Management lifted its position in shares of Verizon Communications by 1.2% during the 2nd quarter. Eaton Vance Management now owns 8,496,032 shares of the cell phone carrier’s stock worth $485,210,000 after buying an additional 101,679 shares during the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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