Northstar Group Inc. Lowers Position in Verizon Communications Inc. $VZ

Northstar Group Inc. lessened its holdings in Verizon Communications Inc. (NYSE:VZ) by 11.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,770 shares of the cell phone carrier’s stock after selling 870 shares during the period. Northstar Group Inc.’s holdings in Verizon Communications were worth $293,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Verizon Communications by 1.2% in the first quarter. Vanguard Group Inc. now owns 368,171,941 shares of the cell phone carrier’s stock worth $16,700,279,000 after buying an additional 4,347,416 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Verizon Communications by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 109,866,405 shares of the cell phone carrier’s stock worth $4,983,225,000 after buying an additional 1,172,175 shares in the last quarter. GQG Partners LLC increased its stake in Verizon Communications by 303.9% in the first quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier’s stock valued at $2,261,648,000 after acquiring an additional 37,516,167 shares during the last quarter. Northern Trust Corp raised its position in Verizon Communications by 1.0% during the first quarter. Northern Trust Corp now owns 45,475,099 shares of the cell phone carrier’s stock valued at $2,062,750,000 after purchasing an additional 431,789 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Verizon Communications by 8.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,993,829 shares of the cell phone carrier’s stock valued at $1,904,840,000 after purchasing an additional 3,100,342 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Down 0.3%

Shares of NYSE:VZ opened at $43.84 on Thursday. The stock’s 50-day moving average price is $43.63 and its 200-day moving average price is $43.36. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The stock has a market capitalization of $184.82 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 3.39 and a beta of 0.37. 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) last announced its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The firm had revenue of $34.50 billion for the quarter, compared to analysts’ expectations of $33.47 billion. During the same period last year, the firm earned $1.15 earnings per share. The company’s revenue for the quarter 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. On average, equities analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

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

Analyst Ratings Changes

VZ has been the topic of a number of research reports. Bank of America raised their price target on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada raised their price target on Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 22nd. Wells Fargo & Company raised their price target on Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. The Goldman Sachs Group initiated coverage on Verizon Communications in a research report on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price target on the stock. Finally, Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.53.

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).