Tectonic Advisors LLC Raises Stock Position in Verizon Communications Inc. $VZ

Key Points

• Tectonic Advisors LLC increased its stake in Verizon Communications Inc. by 8.0% during the second quarter, holding 257,976 shares valued at $11.16 million.
• Verizon announced a quarterly dividend increase to $0.69 per share, representing a 6.7% yield and a payout ratio of 63.17%.
• The company reported earnings of $1.22 per share, surpassing estimates and indicating a 5.2% revenue growth year-over-year.

Tectonic Advisors LLC increased its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 8.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 257,976 shares of the cell phone carrier's stock after acquiring an additional 19,075 shares during the quarter. Tectonic Advisors LLC's holdings in Verizon Communications were worth $11,163,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. increased its holdings in Verizon Communications by 81.0% in the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after acquiring an additional 243 shares in the last quarter. Bulwark Capital Corp purchased a new stake in Verizon Communications in the 2nd quarter worth $25,000. Cherry Tree Wealth Management LLC increased its holdings in Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after acquiring an additional 244 shares in the last quarter. Garde Capital Inc. purchased a new stake in Verizon Communications in the 1st quarter worth $26,000. Finally, 1 North Wealth Services LLC purchased a new stake in Verizon Communications in the 1st quarter worth $29,000. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Trading Down 0.1%

Shares of VZ stock opened at $41.35 on Thursday. The company's 50-day moving average price is $43.58 and its 200-day moving average price is $43.30. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The stock has a market cap of $174.35 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 3.20 and a beta of 0.37. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.03. The firm had revenue of $34.50 billion for the quarter, compared to analysts' expectations of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The company's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, equities analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.69 dividend. The ex-dividend date of this dividend is Friday, October 10th. This is an increase from Verizon Communications's previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a yield of 6.7%. Verizon Communications's dividend payout ratio is currently 63.17%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on VZ shares. Morgan Stanley upped their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Wall Street Zen lowered shares of Verizon Communications from a "buy" rating to a "hold" rating in a report on Friday, September 26th. The Goldman Sachs Group started coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They set a "buy" rating and a $49.00 target price for the company. Bank of America upped their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Verizon Communications in a report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.63.

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).

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