TFB Advisors LLC Boosts Stock Position in Verizon Communications Inc. (NYSE:VZ)

TFB Advisors LLC increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 6.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,875 shares of the cell phone carrier’s stock after buying an additional 1,060 shares during the period. TFB Advisors LLC’s holdings in Verizon Communications were worth $803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Koesten Hirschmann & Crabtree INC. purchased a new position in Verizon Communications during the first quarter valued at $25,000. Accordant Advisory Group Inc lifted its stake in Verizon Communications by 137.6% in the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after buying an additional 450 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in Verizon Communications in the 2nd quarter valued at about $32,000. MFA Wealth Advisors LLC purchased a new stake in Verizon Communications during the 2nd quarter worth approximately $33,000. Finally, McClarren Financial Advisors Inc. increased its stake in Verizon Communications by 762.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,061 shares of the cell phone carrier’s stock worth $48,000 after buying an additional 938 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $40.55 on Friday. The firm has a market cap of $170.70 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 2.98 and a beta of 0.43. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. Verizon Communications Inc. has a 52 week low of $35.40 and a 52 week high of $45.36. The business’s fifty day simple moving average is $43.15 and its 200-day simple moving average is $41.37.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The company had revenue of $33.30 billion for the quarter, compared to analysts’ expectations of $33.42 billion. During the same quarter in the prior year, the company posted $1.22 earnings per share. Verizon Communications’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts forecast that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.678 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.69%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio (DPR) is presently 116.81%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on VZ shares. JPMorgan Chase & Co. lowered their price target on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. Citigroup lifted their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Tigress Financial increased their target price on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Royal Bank of Canada boosted their price target on shares of Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Monday, September 23rd. Finally, Scotiabank increased their price objective on shares of Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a report on Friday, October 18th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus target price of $46.37.

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).