Verizon Communications Inc. (NYSE:VZ) Shares Bought by Tyler Stone Wealth Management

Tyler Stone Wealth Management raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 101.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,202 shares of the cell phone carrier’s stock after acquiring an additional 8,155 shares during the quarter. Tyler Stone Wealth Management’s holdings in Verizon Communications were worth $728,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. purchased a new position in shares of Verizon Communications in the 1st quarter valued at $354,000. Choate Investment Advisors grew its holdings in shares of Verizon Communications by 4.6% during the first quarter. Choate Investment Advisors now owns 26,998 shares of the cell phone carrier’s stock worth $1,133,000 after purchasing an additional 1,182 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of Verizon Communications by 140.5% during the first quarter. Meeder Asset Management Inc. now owns 32,614 shares of the cell phone carrier’s stock worth $1,368,000 after purchasing an additional 19,051 shares in the last quarter. Williams Jones Wealth Management LLC. lifted its holdings in shares of Verizon Communications by 1.9% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 34,052 shares of the cell phone carrier’s stock valued at $1,429,000 after purchasing an additional 626 shares during the last quarter. Finally, Qsemble Capital Management LP boosted its position in shares of Verizon Communications by 161.4% in the 1st quarter. Qsemble Capital Management LP now owns 25,220 shares of the cell phone carrier’s stock valued at $1,058,000 after purchasing an additional 15,573 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Down 0.2 %

NYSE:VZ opened at $40.48 on Monday. Verizon Communications Inc. has a 1 year low of $35.40 and a 1 year high of $45.36. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.62 and a current ratio of 0.66. The stock has a fifty day moving average price of $43.11 and a two-hundred day moving average price of $41.39. The stock has a market capitalization of $170.41 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.99 and a beta of 0.43.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating the consensus estimate of $1.18 by $0.01. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The firm had revenue of $33.30 billion during the quarter, compared to analysts’ expectations of $33.42 billion. During the same quarter last year, the business earned $1.22 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Verizon Communications Inc. will post 4.61 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.678 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 annualized dividend and a yield of 6.70%. The ex-dividend date of this dividend was Thursday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 116.81%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VZ shares. Royal Bank of Canada boosted their price objective on Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a research note on Monday, September 23rd. TD Cowen upped their price target on shares of Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Scotiabank raised their price objective on shares of Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Bank of America increased their target price on shares of Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Finally, Citigroup boosted their price target on Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and an average price target 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).