Radnor Capital Management LLC Sells 11,168 Shares of Verizon Communications Inc. (NYSE:VZ)

Radnor Capital Management LLC reduced its holdings in Verizon Communications Inc. (NYSE:VZ) by 16.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,980 shares of the cell phone carrier’s stock after selling 11,168 shares during the period. Radnor Capital Management LLC’s holdings in Verizon Communications were worth $2,239,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new stake in shares of Verizon Communications in the 3rd quarter valued at approximately $3,376,000. Cyndeo Wealth Partners LLC increased its stake in Verizon Communications by 9.7% in the third quarter. Cyndeo Wealth Partners LLC now owns 202,521 shares of the cell phone carrier’s stock valued at $9,095,000 after purchasing an additional 17,855 shares in the last quarter. Benjamin Edwards Inc. boosted its position in shares of Verizon Communications by 1,934.5% during the third quarter. Benjamin Edwards Inc. now owns 1,080,015 shares of the cell phone carrier’s stock worth $48,503,000 after purchasing an additional 1,026,930 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Verizon Communications by 2.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 2,058,443 shares of the cell phone carrier’s stock valued at $92,445,000 after buying an additional 57,583 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Verizon Communications by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 101,273,082 shares of the cell phone carrier’s stock valued at $4,548,163,000 after buying an additional 5,936,009 shares in the last quarter. 62.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. KeyCorp lowered Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Bank of America boosted their price objective on Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Citigroup raised their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Tigress Financial upped their price target on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Raymond James raised their price objective on shares of Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $46.54.

Verizon Communications Stock Up 0.6 %

VZ stock opened at $38.33 on Wednesday. The company has a market cap of $161.35 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 3.05 and a beta of 0.46. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $45.36. The business has a 50 day moving average price of $41.17 and a two-hundred day moving average price of $41.76. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.01. The business had revenue of $33.30 billion during the quarter, compared to analysts’ expectations 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 period last year, the business earned $1.22 earnings per share. Analysts anticipate that Verizon Communications Inc. will post 4.61 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 7.07%. Verizon Communications’s payout ratio is 116.81%.

Verizon Communications 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).