Northstar Wealth Partners LLC Lowers Holdings in Verizon Communications (VZ)


Northstar Wealth Partners LLC trimmed its position in Verizon Communications (NYSE:VZ) by 3.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 32,656 shares of the cell phone carrier’s stock after selling 1,285 shares during the quarter. Verizon Communications makes up 1.5% of Northstar Wealth Partners LLC’s portfolio, making the stock its 15th biggest position. Northstar Wealth Partners LLC’s holdings in Verizon Communications were worth $1,711,000 at the end of the most recent reporting period.


Several other hedge funds have also recently modified their holdings of VZ. Mackenzie Financial Corp lifted its stake in shares of Verizon Communications by 2,886.8% during the 4th quarter. Mackenzie Financial Corp now owns 11,717,907 shares of the cell phone carrier’s stock worth $620,229,000 after purchasing an additional 11,325,589 shares during the last quarter. Boston Partners lifted its stake in shares of Verizon Communications by 1,252.0% during the 4th quarter. Boston Partners now owns 7,986,475 shares of the cell phone carrier’s stock worth $422,724,000 after purchasing an additional 7,395,776 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Verizon Communications by 14.1% during the 4th quarter. Bank of New York Mellon Corp now owns 48,749,993 shares of the cell phone carrier’s stock worth $2,580,337,000 after purchasing an additional 6,007,544 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Verizon Communications by 7,639.8% during the 3rd quarter. Stifel Financial Corp now owns 3,877,541 shares of the cell phone carrier’s stock worth $191,847,000 after purchasing an additional 3,827,442 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Verizon Communications by 0.8% during the 4th quarter. BlackRock Inc. now owns 265,904,768 shares of the cell phone carrier’s stock worth $14,074,340,000 after purchasing an additional 2,236,290 shares during the last quarter. Institutional investors and hedge funds own 63.81% of the company’s stock.


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Shares of Verizon Communications opened at $48.59 on Thursday, MarketBeat Ratings reports. The company has a current ratio of 0.98, a quick ratio of 0.94 and a debt-to-equity ratio of 2.15. The stock has a market cap of $199.92 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 1.94 and a beta of 0.62. Verizon Communications has a 1 year low of $42.80 and a 1 year high of $54.77.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, April 24th. The cell phone carrier reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.06. The business had revenue of $31.77 billion for the quarter, compared to analyst estimates of $31.25 billion. Verizon Communications had a return on equity of 42.62% and a net margin of 24.37%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.95 earnings per share. research analysts expect that Verizon Communications will post 4.56 EPS for the current fiscal year.


The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date was Monday, April 9th. Verizon Communications’s dividend payout ratio is presently 63.10%.

A number of brokerages recently weighed in on VZ. SunTrust Banks upped their price objective on Verizon Communications to $58.00 and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Vetr cut Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $52.49 price objective for the company. in a research note on Tuesday, April 3rd. JPMorgan Chase & Co. upped their price objective on Verizon Communications from $52.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. William Blair restated a “market perform” rating on shares of Verizon Communications in a research note on Wednesday, April 25th. Finally, Macquarie restated a “hold” rating and set a $54.00 price objective on shares of Verizon Communications in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. Verizon Communications presently has an average rating of “Buy” and a consensus price target of $54.75.


In other news, SVP Anthony T. Skiadas sold 1,974 shares of the stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $49.44, for a total value of $97,594.56. Following the transaction, the senior vice president now directly owns 16,060 shares of the company’s stock, valued at $794,006.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

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.


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

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