SPC Financial Inc. Has $2.01 Million Stock Position in Verizon Communications Inc. (NYSE:VZ)

SPC Financial Inc. lessened its holdings in Verizon Communications Inc. (NYSE:VZ) by 13.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,204 shares of the cell phone carrier’s stock after selling 7,723 shares during the period. SPC Financial Inc.’s holdings in Verizon Communications were worth $2,008,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mainstream Capital Management LLC acquired a new stake in shares of Verizon Communications in the 4th quarter worth about $28,000. Capital Performance Advisors LLP bought a new stake in Verizon Communications in the 3rd quarter worth about $31,000. Legend Financial Advisors Inc. grew its position in Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 320 shares in the last quarter. Compass Financial Services Inc bought a new stake in Verizon Communications in the 4th quarter worth about $33,000. Finally, Hager Investment Management Services LLC bought a new stake in Verizon Communications in the 4th quarter worth about $38,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Down 2.3 %

VZ opened at $42.87 on Wednesday. The company has a 50 day moving average of $40.34 and a 200 day moving average of $41.76. The company has a market cap of $180.45 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 4.45 and a beta of 0.45. Verizon Communications Inc. has a 12 month low of $37.59 and a 12 month high of $45.36. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21.

Verizon Communications (NYSE:VZ) last posted its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same quarter in the previous year, the firm earned $1.08 earnings per share. On average, sell-side analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a yield of 6.32%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s dividend payout ratio is presently 65.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on VZ shares. DZ Bank raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Wednesday, January 29th. Tigress Financial reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Verizon Communications in a research report on Thursday, January 30th. Argus raised shares of Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. Scotiabank upped their price objective on shares of Verizon Communications from $47.50 to $48.00 and gave the stock a “sector perform” rating in a research report on Monday. Finally, UBS Group upped their price objective on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.11.

Insiders Place Their Bets

In other news, EVP Vandana Venkatesh sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total transaction of $437,900.00. Following the sale, the executive vice president now owns 14,459 shares in the company, valued at approximately $633,159.61. This trade represents a 40.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kyle Malady sold 20,000 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $40.54, for a total transaction of $810,800.00. Following the sale, the chief executive officer now owns 45,675 shares in the company, valued at approximately $1,851,664.50. This trade represents a 30.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,085 shares of company stock worth $2,020,895 in the last three months. 0.02% of the stock is currently owned by corporate insiders.

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).