TCTC Holdings LLC Boosts Stock Position in Verizon Communications Inc. $VZ

TCTC Holdings LLC raised its stake in Verizon Communications Inc. (NYSE:VZ) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 366,010 shares of the cell phone carrier’s stock after purchasing an additional 10,944 shares during the quarter. TCTC Holdings LLC’s holdings in Verizon Communications were worth $16,086,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Advantage Trust Co grew its position in Verizon Communications by 549.5% in the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after buying an additional 500 shares during the last quarter. TruNorth Capital Management LLC raised its position in Verizon Communications by 95.3% during the 3rd quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock worth $27,000 after buying an additional 305 shares during the last quarter. Global Wealth Strategies & Associates lifted its stake in shares of Verizon Communications by 739.5% in the 3rd quarter. Global Wealth Strategies & Associates now owns 680 shares of the cell phone carrier’s stock worth $30,000 after acquiring an additional 599 shares during the period. Winnow Wealth LLC acquired a new stake in shares of Verizon Communications in the 2nd quarter worth $34,000. Finally, Silicon Valley Capital Partners boosted its holdings in shares of Verizon Communications by 52.4% in the second quarter. Silicon Valley Capital Partners now owns 782 shares of the cell phone carrier’s stock valued at $34,000 after acquiring an additional 269 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Price Performance

VZ stock opened at $49.00 on Friday. The firm has a 50 day moving average of $41.60 and a 200-day moving average of $41.93. The company has a market cap of $206.59 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 2.07 and a beta of 0.33. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $50.24.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $36.38 billion for the quarter, compared to analysts’ expectations of $36.20 billion. Verizon Communications had a return on equity of 19.03% and a net margin of 12.43%.The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.10 EPS. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. As a group, equities analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be paid a dividend of $0.7075 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, April 10th. This represents a $2.83 annualized dividend and a dividend yield of 5.8%. Verizon Communications’s dividend payout ratio is presently 68.15%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. Sanford C. Bernstein reiterated a “market perform” rating and set a $48.00 target price on shares of Verizon Communications in a research report on Monday, February 2nd. Royal Bank Of Canada increased their target price on Verizon Communications from $44.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 3rd. Wells Fargo & Company lifted their price target on Verizon Communications from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, February 2nd. Finally, Weiss Ratings raised Verizon Communications from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Verizon Communications has an average rating of “Moderate Buy” and a consensus price target of $49.02.

Insider Activity

In related news, EVP Joseph J. Russo sold 9,579 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $44.88, for a total value of $429,905.52. Following the sale, the executive vice president directly owned 44,045 shares in the company, valued at $1,976,739.60. The trade was a 17.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is owned by company insiders.

About Verizon Communications

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.