Tiedemann Advisors LLC raised its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 74.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,152 shares of the cell phone carrier’s stock after buying an additional 9,053 shares during the period. Tiedemann Advisors LLC’s holdings in Verizon Communications were worth $1,066,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Cedar Hill Associates LLC lifted its stake in shares of Verizon Communications by 7.7% in the 2nd quarter. Cedar Hill Associates LLC now owns 13,539 shares of the cell phone carrier’s stock valued at $681,000 after purchasing an additional 968 shares during the last quarter. Bailard Inc. raised its holdings in Verizon Communications by 1.0% in the 2nd quarter. Bailard Inc. now owns 99,356 shares of the cell phone carrier’s stock worth $4,999,000 after acquiring an additional 977 shares during the period. Live Your Vision LLC raised its holdings in Verizon Communications by 24.0% in the 2nd quarter. Live Your Vision LLC now owns 5,166 shares of the cell phone carrier’s stock worth $265,000 after acquiring an additional 1,000 shares during the period. Vantage Financial Partners Ltd. Inc. raised its holdings in Verizon Communications by 6.7% in the 2nd quarter. Vantage Financial Partners Ltd. Inc. now owns 15,879 shares of the cell phone carrier’s stock worth $799,000 after acquiring an additional 1,000 shares during the period. Finally, Canal Capital Management LLC raised its holdings in Verizon Communications by 2.5% in the 2nd quarter. Canal Capital Management LLC now owns 41,657 shares of the cell phone carrier’s stock worth $2,096,000 after acquiring an additional 1,008 shares during the period. 64.17% of the stock is owned by institutional investors.
NYSE:VZ opened at $59.45 on Friday. Verizon Communications Inc. has a 52-week low of $46.08 and a 52-week high of $61.58. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 1.90. The stock has a market cap of $247.93 billion, a PE ratio of 15.90, a P/E/G ratio of 2.61 and a beta of 0.46.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, October 23rd. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. Verizon Communications had a net margin of 24.71% and a return on equity of 35.50%. The company had revenue of $32.61 billion for the quarter, compared to the consensus estimate of $32.45 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. On average, research analysts expect that Verizon Communications Inc. will post 4.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th were issued a dividend of $0.6025 per share. This is an increase from Verizon Communications’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $2.41 annualized dividend and a dividend yield of 4.05%. Verizon Communications’s payout ratio is presently 64.44%.
VZ has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Tuesday, September 25th. Scotiabank set a $62.00 target price on shares of Verizon Communications and gave the stock a “buy” rating in a report on Wednesday, October 24th. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Bank of America reiterated a “buy” rating and issued a $58.00 target price on shares of Verizon Communications in a report on Monday, October 22nd. Finally, Barclays downgraded shares of Verizon Communications from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $56.00 to $50.00 in a report on Tuesday, September 4th. Seven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $56.22.
ILLEGAL ACTIVITY NOTICE: This report was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this report on another domain, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/11/30/verizon-communications-inc-vz-position-boosted-by-tiedemann-advisors-llc.html.
Verizon Communications Profile
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.
Recommended Story: How Does the Quiet Period Work?
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).
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.