SignalPoint Asset Management LLC lessened its holdings in Verizon Communications Inc. (NYSE:VZ) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,784 shares of the cell phone carrier’s stock after selling 1,003 shares during the quarter. SignalPoint Asset Management LLC’s holdings in Verizon Communications were worth $1,056,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Daiwa SB Investments Ltd. boosted its stake in Verizon Communications by 120.0% during the 4th quarter. Daiwa SB Investments Ltd. now owns 880 shares of the cell phone carrier’s stock worth $49,000 after acquiring an additional 480 shares during the last quarter. Advisors Preferred LLC bought a new position in Verizon Communications during the 4th quarter worth approximately $66,000. Advocacy Wealth Management Services LLC boosted its stake in Verizon Communications by 25.9% during the 4th quarter. Advocacy Wealth Management Services LLC now owns 1,265 shares of the cell phone carrier’s stock worth $71,000 after acquiring an additional 260 shares during the last quarter. Mackey Komara & Dankovich LLC bought a new position in Verizon Communications during the 4th quarter worth approximately $86,000. Finally, Highwater Wealth Management LLC bought a new position in Verizon Communications during the 4th quarter worth approximately $87,000. 66.97% of the stock is currently owned by institutional investors.
Shares of VZ stock opened at $58.79 on Wednesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.88 and a current ratio of 0.91. The company has a market cap of $242.35 billion, a price-to-earnings ratio of 12.48, a P/E/G ratio of 2.62 and a beta of 0.51. Verizon Communications Inc. has a 52 week low of $46.08 and a 52 week high of $61.58.
Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 EPS for the quarter, topping the consensus estimate of $1.09 by $0.03. The firm had revenue of $34.28 billion for the quarter, compared to the consensus estimate of $34.45 billion. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the company posted $0.86 EPS. On average, analysts forecast that Verizon Communications Inc. will post 4.66 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.6025 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.10%. Verizon Communications’s dividend payout ratio (DPR) is presently 51.17%.
In other news, Director Lowell C. Mcadam sold 285,988 shares of Verizon Communications stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $56.72, for a total value of $16,221,239.36. Following the sale, the director now directly owns 362,932 shares in the company, valued at $20,585,503.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $60.30, for a total transaction of $81,344.70. Following the completion of the sale, the executive vice president now owns 29,426 shares in the company, valued at $1,774,387.80. The disclosure for this sale can be found here. Insiders sold 288,686 shares of company stock worth $16,379,639 over the last quarter. 0.03% of the stock is owned by corporate insiders.
VZ has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Saturday, January 26th. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday, December 21st. Finally, Tigress Financial restated a “hold” rating on shares of Verizon Communications in a report on Friday, December 28th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.07.
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Verizon Communications Profile
Verizon Communications, Inc is a holding company, which engages in the provision communications, information and entertainment products and services to consumers, businesses and governmental agencies. It operates through Wireless and Wireline segments. The Wireless segment provides wireless voice and data services and equipment sales, which are provided to consumer, business, and government customers.
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