Northwestern Mutual Wealth Management Co. Acquires 46,965 Shares of Verizon Communications Inc. $VZ

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in Verizon Communications by 9.4%, acquiring an additional 46,965 shares to reach a total of 548,421 shares, valued at approximately $24.88 million.
• Several institutional investors have also boosted their stakes in Verizon, with notable increases by Bernard Wealth Management Corp. (81.0%) and Cherry Tree Wealth Management LLC (71.8%) during the first quarter.
• Verizon reported earnings of $1.22 per share for the last quarter, surpassing analyst expectations, and announced a quarterly dividend of $0.6775, representing a 6.1% yield.

Northwestern Mutual Wealth Management Co. grew its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 9.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 548,421 shares of the cell phone carrier's stock after purchasing an additional 46,965 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Verizon Communications were worth $24,876,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sargent Investment Group LLC lifted its holdings in shares of Verizon Communications by 3.3% during the first quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier's stock valued at $323,000 after purchasing an additional 230 shares in the last quarter. Crescent Sterling Ltd. grew its stake in shares of Verizon Communications by 0.8% during the 1st quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier's stock valued at $1,402,000 after acquiring an additional 235 shares during the period. Providence Capital Advisors LLC raised its position in shares of Verizon Communications by 0.3% during the 1st quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier's stock valued at $3,637,000 after purchasing an additional 240 shares during the period. Bernard Wealth Management Corp. lifted its position in shares of Verizon Communications by 81.0% in the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after acquiring an additional 243 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC boosted its stake in Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after purchasing an additional 244 shares during the period. Hedge funds and other institutional investors own 62.06% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on VZ shares. Tigress Financial boosted their price target on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Wall Street Zen raised shares of Verizon Communications from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Wells Fargo & Company upped their target price on Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Morgan Stanley boosted their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $47.35.

Verizon Communications Trading Down 1.4%

Shares of Verizon Communications stock opened at $44.3840 on Monday. The firm's 50 day simple moving average is $42.80 and its two-hundred day simple moving average is $43.15. The firm has a market capitalization of $187.14 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 3.43 and a beta of 0.36. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ - Get Free Report) last announced 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. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same period in the previous year, the company earned $1.15 earnings per share. The business's quarterly revenue was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend was Thursday, July 10th. Verizon Communications's dividend payout ratio is 63.17%.

About Verizon Communications

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.