Tableaux LLC Buys Shares of 11,775 Verizon Communications Inc. $VZ

by · The Cerbat Gem

Tableaux LLC purchased a new position in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 11,775 shares of the cell phone carrier’s stock, valued at approximately $510,000.

Several other large investors have also made changes to their positions in VZ. Bulwark Capital Corp acquired a new stake in Verizon Communications in the second quarter valued at approximately $25,000. Advantage Trust Co raised its holdings in shares of Verizon Communications by 549.5% during the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 500 shares in the last quarter. 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications in the 1st quarter valued at $29,000. Accent Capital Management LLC bought a new stake in Verizon Communications in the first quarter worth $30,000. Finally, RMG Wealth Management LLC acquired a new position in Verizon Communications during the second quarter worth $30,000. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $41.22 on Friday. The company has a market cap of $173.80 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 3.03 and a beta of 0.35. The business has a 50 day moving average price of $41.27 and a 200 day moving average price of $42.54. The company has a quick ratio of 0.60, a current ratio of 0.74 and a debt-to-equity ratio of 1.19. 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 issued its quarterly earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.02. Verizon Communications had a return on equity of 19.31% and a net margin of 14.43%.The company had revenue of $33.82 billion during the quarter, compared to analyst estimates of $34.19 billion. During the same period in the previous year, the company earned $1.19 earnings per share. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. Research 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 declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were issued a $0.69 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, October 10th. This represents a $2.76 dividend on an annualized basis and a yield of 6.7%. Verizon Communications’s payout ratio is currently 58.97%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. TD Cowen reduced their price target on Verizon Communications from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Royal Bank Of Canada reduced their target price on Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating for the company in a report on Thursday, October 30th. BNP Paribas cut Verizon Communications from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. BNP Paribas Exane lowered shares of Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 price target on the stock. in a research report on Tuesday, October 21st. Finally, The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, Verizon Communications has a consensus rating of “Hold” and an average target price of $47.41.

Read Our Latest Stock Analysis on Verizon Communications

Verizon Communications Company Profile

(Free Report)

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).

Featured Articles

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ – Free Report).