Tsfg LLC Acquires 257 Shares of Verizon Communications Inc. (NYSE:VZ)

Tsfg LLC grew its holdings in shares of Verizon Communications Inc. (NYSE:VZGet Rating) by 4.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,937 shares of the cell phone carrier’s stock after acquiring an additional 257 shares during the quarter. Tsfg LLC’s holdings in Verizon Communications were worth $301,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of VZ. Vanguard Group Inc. lifted its position in Verizon Communications by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 330,221,086 shares of the cell phone carrier’s stock worth $16,821,462,000 after buying an additional 8,570,818 shares during the last quarter. BlackRock Inc. lifted its position in Verizon Communications by 4.8% in the 1st quarter. BlackRock Inc. now owns 304,700,845 shares of the cell phone carrier’s stock worth $15,521,461,000 after buying an additional 13,959,954 shares during the last quarter. State Street Corp lifted its position in Verizon Communications by 2.6% in the 4th quarter. State Street Corp now owns 170,483,451 shares of the cell phone carrier’s stock worth $8,858,320,000 after buying an additional 4,312,242 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Verizon Communications by 5.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 59,782,122 shares of the cell phone carrier’s stock worth $3,045,303,000 after buying an additional 2,934,928 shares during the last quarter. Finally, Capital World Investors lifted its position in Verizon Communications by 7.7% in the 1st quarter. Capital World Investors now owns 49,879,143 shares of the cell phone carrier’s stock worth $2,540,898,000 after buying an additional 3,568,252 shares during the last quarter. Institutional investors own 62.83% of the company’s stock.

Verizon Communications Price Performance

Shares of VZ stock opened at $39.93 on Friday. The stock has a market cap of $167.69 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 1.89 and a beta of 0.36. The business’s fifty day moving average is $44.00 and its 200 day moving average is $48.51. Verizon Communications Inc. has a twelve month low of $39.26 and a twelve month high of $55.51. The company has a quick ratio of 0.69, a current ratio of 0.76 and a debt-to-equity ratio of 1.56.

Verizon Communications (NYSE:VZGet Rating) last issued its quarterly earnings results on Friday, July 22nd. The cell phone carrier reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). The firm had revenue of $33.79 billion during the quarter, compared to analysts’ expectations of $33.77 billion. Verizon Communications had a return on equity of 26.95% and a net margin of 15.48%. Verizon Communications’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the company earned $1.37 earnings per share. Research analysts expect that Verizon Communications Inc. will post 5.19 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be issued a $0.6525 dividend. This represents a $2.61 annualized dividend and a yield of 6.54%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, October 6th. Verizon Communications’s payout ratio is 51.30%.

Insiders Place Their Bets

In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the business’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $51.42, for a total value of $80,112.36. Following the sale, the executive vice president now directly owns 33,403 shares of the company’s stock, valued at $1,717,582.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

VZ has been the topic of a number of analyst reports. Royal Bank of Canada decreased their price target on Verizon Communications from $57.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Wednesday, June 22nd. Scotiabank cut Verizon Communications from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, July 22nd. Morgan Stanley decreased their price target on Verizon Communications from $60.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Monday, July 25th. Moffett Nathanson cut Verizon Communications from a “market perform” rating to an “underperform” rating and set a $41.00 price target on the stock. in a research note on Thursday, August 18th. Finally, Cowen reduced their target price on Verizon Communications from $71.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, July 25th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $55.61.

About Verizon Communications

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Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

See Also

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

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