Signet Financial Management LLC Sells 33,261 Shares of Verizon Communications Inc. (NYSE:VZ)

Signet Financial Management LLC trimmed its position in Verizon Communications Inc. (NYSE:VZ) by 62.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,415 shares of the cell phone carrier’s stock after selling 33,261 shares during the period. Signet Financial Management LLC’s holdings in Verizon Communications were worth $816,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fermata Advisors LLC increased its stake in shares of Verizon Communications by 4.5% in the third quarter. Fermata Advisors LLC now owns 5,626 shares of the cell phone carrier’s stock worth $253,000 after buying an additional 243 shares during the period. Austin Private Wealth LLC increased its position in shares of Verizon Communications by 3.0% in the third quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier’s stock valued at $379,000 after acquiring an additional 243 shares during the period. Semmax Financial Advisors Inc. raised its stake in shares of Verizon Communications by 0.4% during the second quarter. Semmax Financial Advisors Inc. now owns 54,926 shares of the cell phone carrier’s stock valued at $2,240,000 after acquiring an additional 246 shares during the last quarter. Cary Street Partners Asset Management LLC boosted its holdings in shares of Verizon Communications by 3.4% during the third quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock worth $343,000 after purchasing an additional 249 shares during the period. Finally, Wynn Capital LLC boosted its holdings in shares of Verizon Communications by 4.4% during the third quarter. Wynn Capital LLC now owns 5,945 shares of the cell phone carrier’s stock worth $267,000 after purchasing an additional 250 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

Shares of NYSE VZ traded up $0.28 during trading on Monday, reaching $38.09. 19,709,003 shares of the company traded hands, compared to its average volume of 23,753,027. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. The firm has a 50 day simple moving average of $41.29 and a 200-day simple moving average of $41.80. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $45.36. The stock has a market capitalization of $160.34 billion, a PE ratio of 16.42, a P/E/G ratio of 3.05 and a beta of 0.46.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The business had revenue of $33.30 billion during the quarter, compared to the consensus estimate of $33.42 billion. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 EPS. Equities research analysts anticipate that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.6775 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.71 annualized dividend and a yield of 7.11%. Verizon Communications’s payout ratio is 116.81%.

Analyst Ratings Changes

A number of research analysts have commented on VZ shares. Sanford C. Bernstein began coverage on Verizon Communications in a research report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price target for the company. Citigroup raised their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Raymond James boosted their price objective on shares of Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Bank of America raised their target price on shares of Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, Scotiabank boosted their price target on shares of Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Verizon Communications has an average rating of “Hold” and an average target price of $46.54.

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).