Northwestern Mutual Wealth Management Co. Has $29.75 Million Stake in Verizon Communications (VZ)

Northwestern Mutual Wealth Management Co. raised its holdings in shares of Verizon Communications (NYSE:VZ) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 561,997 shares of the cell phone carrier’s stock after acquiring an additional 3,715 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Verizon Communications were worth $29,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of VZ. Beach Investment Management LLC. purchased a new position in shares of Verizon Communications during the 2nd quarter valued at $4,320,000. QCI Asset Management Inc. NY lifted its stake in shares of Verizon Communications by 3.1% during the 2nd quarter. QCI Asset Management Inc. NY now owns 312,897 shares of the cell phone carrier’s stock valued at $13,974,000 after buying an additional 9,366 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in shares of Verizon Communications by 5.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 57,902 shares of the cell phone carrier’s stock valued at $2,586,000 after buying an additional 3,250 shares in the last quarter. Homrich & Berg lifted its stake in shares of Verizon Communications by 11.5% during the 2nd quarter. Homrich & Berg now owns 46,965 shares of the cell phone carrier’s stock valued at $2,097,000 after buying an additional 4,848 shares in the last quarter. Finally, Motco lifted its stake in shares of Verizon Communications by 3.1% during the 2nd quarter. Motco now owns 84,275 shares of the cell phone carrier’s stock valued at $3,764,000 after buying an additional 2,514 shares in the last quarter. Institutional investors and hedge funds own 64.00% of the company’s stock.

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A number of research analysts recently weighed in on the stock. KeyCorp lifted their target price on shares of Verizon Communications from $50.00 to $53.00 and gave the company a “sector weight” rating in a research note on Tuesday, January 2nd. JPMorgan Chase lifted their target price on shares of Verizon Communications from $52.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. SunTrust Banks lifted their target price on shares of Verizon Communications to $58.00 and gave the company a “hold” rating in a research note on Wednesday, January 24th. Macquarie reiterated a “hold” rating and issued a $54.00 price target on shares of Verizon Communications in a research note on Wednesday, January 24th. Finally, Nomura boosted their price target on shares of Verizon Communications from $61.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the stock. Verizon Communications presently has an average rating of “Hold” and a consensus price target of $54.24.

In other news, SVP Anthony T. Skiadas sold 6,967 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total value of $346,956.60. Following the sale, the senior vice president now directly owns 16,059 shares in the company, valued at approximately $799,738.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Verizon Communications stock opened at $47.48 on Monday. Verizon Communications has a twelve month low of $42.80 and a twelve month high of $54.77. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91. The stock has a market capitalization of $195,995.72, a PE ratio of 12.70, a price-to-earnings-growth ratio of 1.93 and a beta of 0.64.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The business had revenue of $33.96 billion during the quarter, compared to the consensus estimate of $33.20 billion. During the same quarter last year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 2.2% on a year-over-year basis. equities analysts forecast that Verizon Communications will post 4.54 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be issued a $0.59 dividend. The ex-dividend date is Monday, April 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.97%. Verizon Communications’s dividend payout ratio (DPR) is presently 63.10%.

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About Verizon Communications

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.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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