Verizon Communications Inc. (NYSE:VZ) announced a quarterly dividend on Thursday, December 7th, RTT News reports. Stockholders 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 dividend yield of 4.68%.
Verizon Communications has raised its dividend by an average of 3.1% per year over the last three years and has raised its dividend annually for the last 10 consecutive years. Verizon Communications has a payout ratio of 62.6% indicating that its dividend is sufficiently covered by earnings. Equities 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%.
Shares of Verizon Communications (VZ) opened at $50.42 on Friday. The company has a market cap of $206,380.00, a PE ratio of 13.58, a PEG ratio of 4.78 and a beta of 0.57. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07. Verizon Communications has a one year low of $42.80 and a one year high of $54.83.
Verizon Communications (NYSE:VZ) last released its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting analysts’ consensus estimates of $0.98. The business had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 earnings per share. research analysts forecast that Verizon Communications will post 3.77 EPS for the current fiscal year.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $49.23, for a total value of $30,030.30. Following the transaction, the executive vice president now directly owns 6,599 shares in the company, valued at approximately $324,868.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,830 shares of company stock worth $88,609 over the last quarter. 0.13% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Raab & Moskowitz Asset Management LLC lifted its holdings in shares of Verizon Communications by 6.4% in the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 68,182 shares of the cell phone carrier’s stock worth $3,274,000 after acquiring an additional 4,086 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in shares of Verizon Communications in the 2nd quarter worth approximately $156,000. Auxier Asset Management lifted its holdings in shares of Verizon Communications by 6.0% in the 2nd quarter. Auxier Asset Management now owns 45,189 shares of the cell phone carrier’s stock worth $2,018,000 after acquiring an additional 2,550 shares during the last quarter. Keel Point LLC lifted its holdings in shares of Verizon Communications by 0.6% in the 2nd quarter. Keel Point LLC now owns 12,359 shares of the cell phone carrier’s stock worth $552,000 after acquiring an additional 78 shares during the last quarter. Finally, National Asset Management Inc. lifted its holdings in shares of Verizon Communications by 5.0% in the 2nd quarter. National Asset Management Inc. now owns 84,396 shares of the cell phone carrier’s stock worth $3,772,000 after acquiring an additional 3,986 shares during the last quarter. Institutional investors own 63.37% of the company’s stock.
VZ has been the subject of several research reports. Macquarie reaffirmed a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a research note on Sunday, October 22nd. SunTrust Banks reaffirmed a “hold” rating and set a $50.00 price objective on shares of Verizon Communications in a research note on Friday, October 20th. Moffett Nathanson reaffirmed a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Wells Fargo & Company raised shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Monday, November 20th. Finally, Cowen reaffirmed a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a research note on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently 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.
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