Tectonic Advisors LLC Has $9.25 Million Stock Position in Verizon Communications Inc. (NYSE:VZ)

Tectonic Advisors LLC increased its position in Verizon Communications Inc. (NYSE:VZ) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 205,847 shares of the cell phone carrier’s stock after purchasing an additional 17,852 shares during the quarter. Verizon Communications makes up 0.6% of Tectonic Advisors LLC’s portfolio, making the stock its 27th biggest position. Tectonic Advisors LLC’s holdings in Verizon Communications were worth $9,245,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Verizon Communications by 7.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 793,595 shares of the cell phone carrier’s stock valued at $33,299,000 after acquiring an additional 54,635 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in shares of Verizon Communications during the 1st quarter valued at approximately $338,000. Register Financial Advisors LLC bought a new stake in Verizon Communications during the 1st quarter worth approximately $269,000. Kathmere Capital Management LLC grew its holdings in Verizon Communications by 43.8% during the 1st quarter. Kathmere Capital Management LLC now owns 54,494 shares of the cell phone carrier’s stock worth $2,287,000 after acquiring an additional 16,603 shares during the last quarter. Finally, Webster Bank N. A. lifted its position in shares of Verizon Communications by 2.6% in the 1st quarter. Webster Bank N. A. now owns 55,259 shares of the cell phone carrier’s stock worth $2,319,000 after purchasing an additional 1,426 shares during the period. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Down 2.3 %

Shares of VZ opened at $41.86 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. The business has a fifty day moving average of $43.05 and a 200 day moving average of $41.29. Verizon Communications Inc. has a 52-week low of $33.34 and a 52-week high of $45.36. The company has a market cap of $176.18 billion, a PE ratio of 15.62, a P/E/G ratio of 4.02 and a beta of 0.42.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results 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 return on equity of 20.10% and a net margin of 8.38%. The firm had revenue of $33.30 billion for the quarter, compared to analyst estimates of $33.42 billion. During the same quarter last year, the firm posted $1.22 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, sell-side analysts expect that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.678 dividend. This represents a $2.71 annualized dividend and a yield of 6.48%. The ex-dividend date is Thursday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio (DPR) is currently 101.12%.

Analyst Upgrades and Downgrades

VZ has been the topic of a number of research reports. Tigress Financial boosted 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. Citigroup upped 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. The Goldman Sachs Group began coverage on shares of Verizon Communications in a research report on Monday, July 1st. They set a “buy” rating and a $50.00 price target for the company. TD Cowen increased 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. Finally, Raymond James upped their price objective on shares of Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Verizon Communications has a consensus rating of “Moderate Buy” and an average target price of $46.37.

About Verizon Communications

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).