Verizon Communications (NYSE:VZ – Get Rating) had its price target cut by Cowen from $55.00 to $49.00 in a research report released on Wednesday, The Fly reports. They currently have an outperform rating on the cell phone carrier's stock.

Other research analysts have also issued research reports about the company. Royal Bank of Canada dropped their target price on Verizon Communications from $42.00 to $40.00 and set a sector perform rating on the stock in a report on Wednesday. Wells Fargo & Company dropped their target price on Verizon Communications from $48.00 to $40.00 and set an equal weight rating on the stock in a report on Friday, October 7th. Cowen dropped their target price on Verizon Communications from $64.00 to $55.00 and set an outperform rating on the stock in a report on Monday, October 24th. Raymond James dropped their target price on Verizon Communications from $54.00 to $51.00 and set an outperform rating on the stock in a report on Monday, October 24th. Finally, Moffett Nathanson raised Verizon Communications from an underperform rating to a market perform rating and set a $41.00 target price on the stock in a report on Monday, December 19th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $47.63.

Verizon Communications Price Performance

Shares of NYSE VZ opened at $40.64 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.69 and a debt-to-equity ratio of 1.52. Verizon Communications has a twelve month low of $32.76 and a twelve month high of $55.51. The stock has a 50 day moving average of $39.22 and a two-hundred day moving average of $40.65. The stock has a market cap of $170.68 billion, a P/E ratio of 8.03, a P/E/G ratio of 2.07 and a beta of 0.37.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th will be given a dividend of $0.6525 per share. The ex-dividend date is Monday, January 9th. This represents a $2.61 dividend on an annualized basis and a yield of 6.42%. Verizon Communications's payout ratio is 51.58%.

Institutional Trading of Verizon Communications

A number of institutional investors have recently bought and sold shares of the company. LFA Lugano Financial Advisors SA purchased a new stake in shares of Verizon Communications in the second quarter valued at $28,000. HBC Financial Services PLLC purchased a new stake in shares of Verizon Communications in the second quarter valued at $30,000. Founders Capital Management purchased a new stake in shares of Verizon Communications in the second quarter valued at $34,000. Mizuho Securities Co. Ltd. lifted its position in shares of Verizon Communications by 340.7% in the second quarter. Mizuho Securities Co. Ltd. now owns 736 shares of the cell phone carrier's stock valued at $38,000 after acquiring an additional 569 shares in the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Verizon Communications in the second quarter valued at $43,000. 60.96% of the stock is currently owned by hedge funds and other institutional investors.

About Verizon Communications

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Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

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