SignalPoint Asset Management LLC Decreases Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

SignalPoint Asset Management LLC reduced its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,550 shares of the cell phone carrier’s stock after selling 648 shares during the quarter. SignalPoint Asset Management LLC’s holdings in Verizon Communications were worth $586,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. CGC Financial Services LLC purchased a new stake in shares of Verizon Communications in the 2nd quarter worth about $32,000. HBC Financial Services PLLC boosted its position in Verizon Communications by 320.0% during the third quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier’s stock worth $34,000 after acquiring an additional 800 shares during the last quarter. True Wealth Design LLC purchased a new position in shares of Verizon Communications during the 4th quarter worth $42,000. Financial Management Professionals Inc. boosted its holdings in shares of Verizon Communications by 58.4% during the fourth quarter. Financial Management Professionals Inc. now owns 1,096 shares of the cell phone carrier’s stock worth $41,000 after purchasing an additional 404 shares during the last quarter. Finally, RVW Wealth LLC purchased a new stake in shares of Verizon Communications in the third quarter valued at $36,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Up 0.0 %

Shares of NYSE:VZ traded up $0.01 during mid-day trading on Tuesday, hitting $40.88. 17,846,757 shares of the company traded hands, compared to its average volume of 20,364,316. The firm has a market cap of $171.87 billion, a P/E ratio of 14.81, a PEG ratio of 3.07 and a beta of 0.40. Verizon Communications Inc. has a 52-week low of $30.14 and a 52-week high of $43.21. The firm’s 50 day simple moving average is $40.49 and its 200 day simple moving average is $37.26. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.65 and a current ratio of 0.69.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.08. The company had revenue of $35.10 billion for the quarter, compared to analyst estimates of $34.60 billion. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.19 earnings per share. On average, equities analysts anticipate that Verizon Communications Inc. will post 4.61 EPS for the current year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s dividend payout ratio is currently 96.38%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on VZ shares. Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and increased their target price for the stock from $33.00 to $39.00 in a research report on Friday. KeyCorp lifted their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Wells Fargo & Company boosted their price objective on shares of Verizon Communications from $40.00 to $44.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. StockNews.com lowered Verizon Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $43.00 target price on shares of Verizon Communications in a report on Tuesday, December 19th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and a consensus target price of $43.86.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 15,000 shares of Verizon Communications stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $40.33, for a total value of $604,950.00. Following the completion of the sale, the chief executive officer now owns 59,201 shares in the company, valued at $2,387,576.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.02% of the stock is owned by insiders.

Verizon Communications Company Profile

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).