Tandem Investment Partners LLC Increases Holdings in Verizon Communications Inc. $VZ

Tandem Investment Partners LLC grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 11.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,235 shares of the cell phone carrier’s stock after purchasing an additional 1,185 shares during the quarter. Tandem Investment Partners LLC’s holdings in Verizon Communications were worth $486,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in VZ. Brighton Jones LLC lifted its stake in shares of Verizon Communications by 61.2% during the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock worth $1,759,000 after purchasing an additional 16,704 shares during the period. Naples Global Advisors LLC lifted its stake in shares of Verizon Communications by 12.5% during the 1st quarter. Naples Global Advisors LLC now owns 9,206 shares of the cell phone carrier’s stock worth $418,000 after purchasing an additional 1,024 shares during the period. Vest Financial LLC lifted its stake in shares of Verizon Communications by 61.0% during the 1st quarter. Vest Financial LLC now owns 112,592 shares of the cell phone carrier’s stock worth $5,107,000 after purchasing an additional 42,645 shares during the period. Foster Group Inc. purchased a new position in shares of Verizon Communications during the 1st quarter worth $254,000. Finally, Procyon Advisors LLC lifted its stake in shares of Verizon Communications by 55.6% during the 1st quarter. Procyon Advisors LLC now owns 52,564 shares of the cell phone carrier’s stock worth $2,273,000 after purchasing an additional 18,779 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

NYSE:VZ opened at $43.68 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. The firm has a 50-day moving average of $43.65 and a two-hundred day moving average of $43.35. The stock has a market cap of $184.17 billion, a P/E ratio of 10.18, a PEG ratio of 3.37 and a beta of 0.37. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. The company had revenue of $34.50 billion during the quarter, compared to analysts’ expectations of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Friday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio is currently 63.17%.

Analyst Ratings Changes

VZ has been the subject of a number of research analyst reports. Bank of America upped their price objective on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Arete Research upgraded Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Wells Fargo & Company upped their price objective on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Finally, Royal Bank Of Canada upped their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and an average target price of $47.53.

Verizon Communications 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).