Traders Purchase Large Volume of Verizon Communications Call Options (NYSE:VZ)

Verizon Communications Inc. (NYSE:VZ) was the target of unusually large options trading on Thursday. Stock traders acquired 87,643 call options on the stock. This is an increase of 25% compared to the average daily volume of 70,084 call options.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. BNP Paribas cut Verizon Communications from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Company lifted their price target on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. BNP Paribas Exane cut Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 price target for the company. in a report on Tuesday. Wall Street Zen cut Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, Royal Bank Of Canada lifted their price target on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.41.

Verizon Communications Price Performance

Verizon Communications stock opened at $38.83 on Friday. The stock’s fifty day moving average price is $42.84 and its two-hundred day moving average price is $42.96. Verizon Communications has a one year low of $37.58 and a one year high of $47.35. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. The firm has a market cap of $163.70 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 2.89 and a beta of 0.37.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.69 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. This represents a $2.76 dividend on an annualized basis and a yield of 7.1%. Verizon Communications’s dividend payout ratio is 64.34%.

Hedge Funds Weigh In On Verizon Communications

Hedge funds have recently added to or reduced their stakes in the stock. Bulwark Capital Corp bought a new position in Verizon Communications during the 2nd quarter worth $25,000. Advantage Trust Co increased its stake in shares of Verizon Communications by 549.5% in the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 500 shares during the last quarter. TruNorth Capital Management LLC increased its stake in shares of Verizon Communications by 95.3% in the 3rd quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock valued at $27,000 after purchasing an additional 305 shares during the last quarter. 1 North Wealth Services LLC bought a new position in shares of Verizon Communications in the 1st quarter valued at $29,000. Finally, Accent Capital Management LLC bought a new position in shares of Verizon Communications in the 1st quarter valued at $30,000. Institutional investors own 62.06% of the company’s stock.

About Verizon Communications

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).