Tectonic Advisors LLC Buys 15,103 Shares of Verizon Communications Inc. (NYSE:VZ)

Tectonic Advisors LLC raised its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 6.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 238,901 shares of the cell phone carrier's stock after acquiring an additional 15,103 shares during the quarter. Verizon Communications comprises approximately 0.7% of Tectonic Advisors LLC's holdings, making the stock its 29th largest position. Tectonic Advisors LLC's holdings in Verizon Communications were worth $10,837,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its position in Verizon Communications by 61.2% during the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock worth $1,759,000 after acquiring an additional 16,704 shares during the period. Proficio Capital Partners LLC increased its holdings in Verizon Communications by 64.4% in the 4th quarter. Proficio Capital Partners LLC now owns 11,127 shares of the cell phone carrier's stock valued at $445,000 after buying an additional 4,360 shares during the period. Choate Investment Advisors increased its holdings in Verizon Communications by 6.3% in the 4th quarter. Choate Investment Advisors now owns 25,024 shares of the cell phone carrier's stock valued at $1,001,000 after buying an additional 1,491 shares during the period. IMG Wealth Management Inc. bought a new stake in Verizon Communications in the 4th quarter valued at $138,000. Finally, Creative Financial Designs Inc. ADV increased its holdings in Verizon Communications by 8.4% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 41,601 shares of the cell phone carrier's stock valued at $1,664,000 after buying an additional 3,236 shares during the period. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Trading Down 0.7%

Verizon Communications stock traded down $0.29 during trading hours on Thursday, reaching $40.96. 18,385,820 shares of the company's stock traded hands, compared to its average volume of 20,227,849. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.58 and a current ratio of 0.61. Verizon Communications Inc. has a fifty-two week low of $37.59 and a fifty-two week high of $47.36. The firm has a market capitalization of $172.71 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 3.31 and a beta of 0.37. The firm's 50 day moving average is $42.99 and its 200-day moving average is $42.39.

Verizon Communications (NYSE:VZ - Get Free Report) last released its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. Verizon Communications had a net margin of 13.14% and a return on equity of 19.66%. The company had revenue of $33.50 billion for the quarter, compared to the consensus estimate of $33.31 billion. On average, analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.6775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.62%. Verizon Communications's payout ratio is presently 64.52%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VZ. Tigress Financial boosted their price target on shares of Verizon Communications from $55.00 to $56.00 and gave the company a "buy" rating in a report on Monday, April 28th. Scotiabank boosted their price target on shares of Verizon Communications from $48.50 to $49.00 and gave the company a "sector perform" rating in a report on Wednesday, April 23rd. Arete Research upgraded shares of Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Morgan Stanley started coverage on shares of Verizon Communications in a research note on Thursday, July 10th. They issued an "equal weight" rating and a $47.00 target price on the stock. Finally, Wells Fargo & Company boosted their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Eleven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Verizon Communications presently has an average rating of "Moderate Buy" and a consensus target price of $47.00.

Insider Transactions at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 9,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $44.10, for a total transaction of $396,900.00. Following the transaction, the chief executive officer directly owned 10,008 shares in the company, valued at approximately $441,352.80. This represents a 47.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 21,500 shares of company stock worth $938,400. Corporate insiders own 0.10% of the company's stock.

Verizon Communications Company 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).