Signet Financial Management LLC Acquires 12,159 Shares of Verizon Communications Inc. $VZ

Signet Financial Management LLC boosted its holdings in Verizon Communications Inc. (NYSE:VZFree Report) by 61.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 31,843 shares of the cell phone carrier’s stock after purchasing an additional 12,159 shares during the quarter. Signet Financial Management LLC’s holdings in Verizon Communications were worth $1,399,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC bought a new stake in Verizon Communications during the third quarter worth $440,000. CenterBook Partners LP purchased a new position in Verizon Communications during the 3rd quarter worth $719,000. MJP Associates Inc. ADV boosted its holdings in Verizon Communications by 10.6% during the 3rd quarter. MJP Associates Inc. ADV now owns 10,522 shares of the cell phone carrier’s stock worth $462,000 after acquiring an additional 1,009 shares during the last quarter. Syon Capital LLC grew its stake in shares of Verizon Communications by 29.0% in the 3rd quarter. Syon Capital LLC now owns 24,811 shares of the cell phone carrier’s stock worth $1,090,000 after acquiring an additional 5,575 shares in the last quarter. Finally, Advisors Capital Management LLC raised its holdings in shares of Verizon Communications by 16.0% in the third quarter. Advisors Capital Management LLC now owns 844,133 shares of the cell phone carrier’s stock valued at $37,100,000 after purchasing an additional 116,605 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analysts Set New Price Targets

VZ has been the topic of several analyst reports. Royal Bank Of Canada boosted their price target on shares of Verizon Communications from $44.00 to $48.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. boosted their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 3rd. Scotiabank upped their target price on Verizon Communications from $48.00 to $50.25 and gave the company a “sector perform” rating in a report on Monday, February 2nd. William Blair upgraded Verizon Communications to an “outperform” rating in a report on Monday, February 2nd. Finally, Williams Trading set a $54.00 price objective on Verizon Communications in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.02.

Read Our Latest Analysis on Verizon Communications

Verizon Communications News Summary

Here are the key news stories impacting Verizon Communications this week:

Insider Activity

In other news, EVP Joseph J. Russo sold 9,579 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $44.88, for a total value of $429,905.52. Following the sale, the executive vice president owned 44,045 shares of the company’s stock, valued at $1,976,739.60. The trade was a 17.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.10% of the stock is currently owned by company insiders.

Verizon Communications Stock Performance

NYSE:VZ opened at $48.62 on Friday. The company has a market capitalization of $205.07 billion, a P/E ratio of 12.01, a P/E/G ratio of 2.01 and a beta of 0.33. The business has a fifty day simple moving average of $42.26 and a two-hundred day simple moving average of $42.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.87. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $50.24.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings results on Friday, January 30th. The cell phone carrier reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $36.38 billion for the quarter, compared to analysts’ expectations of $36.20 billion. Verizon Communications had a return on equity of 19.03% and a net margin of 12.43%.The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.10 EPS. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. On average, analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be given a dividend of $0.7075 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.69. This represents a $2.83 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Friday, April 10th. Verizon Communications’s dividend payout ratio (DPR) is 68.15%.

About Verizon Communications

(Free Report)

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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