Tsfg LLC increased its position in Verizon Communications Inc. (NYSE:VZ – Get Rating) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,937 shares of the cell phone carrier’s stock after buying an additional 257 shares during the quarter. Tsfg LLC’s holdings in Verizon Communications were worth $301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Rinkey Investments acquired a new stake in Verizon Communications during the 4th quarter valued at approximately $27,000. Cordant Inc. acquired a new stake in Verizon Communications during the 1st quarter valued at approximately $30,000. Lansing Street Advisors acquired a new stake in Verizon Communications during the 1st quarter valued at approximately $35,000. Conrad Siegel Investment Advisors Inc. acquired a new stake in Verizon Communications during the 1st quarter valued at approximately $36,000. Finally, Gibson Wealth Advisors LLC acquired a new stake in Verizon Communications during the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 62.83% of the company’s stock.
In other news, EVP Craig L. Silliman sold 1,558 shares of the firm’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $51.42, for a total transaction of $80,112.36. Following the completion of the sale, the executive vice president now directly owns 33,403 shares of the company’s stock, valued at approximately $1,717,582.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.10% of the company’s stock.
Wall Street Analyst Weigh In
Verizon Communications Price Performance
Shares of NYSE:VZ opened at $39.93 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.56. The stock’s fifty day simple moving average is $44.00 and its two-hundred day simple moving average is $48.51. Verizon Communications Inc. has a 1-year low of $39.26 and a 1-year high of $55.51. The stock has a market cap of $167.69 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 1.89 and a beta of 0.36.
Verizon Communications (NYSE:VZ – Get Rating) last issued its quarterly earnings data 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). Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The company had revenue of $33.79 billion for the quarter, compared to the consensus estimate of $33.77 billion. During the same quarter last year, the business posted $1.37 earnings per share. Verizon Communications’s revenue was up .1% on a year-over-year basis. As a group, analysts forecast that Verizon Communications Inc. will post 5.19 EPS for the current fiscal year.
Verizon Communications Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be given a dividend of $0.6525 per share. The ex-dividend date of this dividend is Thursday, October 6th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.64. This represents a $2.61 annualized dividend and a dividend yield of 6.54%. Verizon Communications’s dividend payout ratio (DPR) is currently 51.30%.
Verizon Communications Profile
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.
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