Newman Dignan Sheerar buys $2,235,728 stake in Verizon Communications (VZ)

Verizon Communications (VZ) : Newman Dignan Sheerar scooped up 2,469 additional shares in Verizon Communications during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 11, 2016. The investment management firm now holds a total of 43,539 shares of Verizon Communications which is valued at $2,235,728.Verizon Communications makes up approximately 1.61% of Newman Dignan Sheerar’s portfolio.

Verizon Communications closed down -0.01 points or -0.02% at $51.35 with 1,18,61,953 shares getting traded on Friday. Post opening the session at $51.28, the shares hit an intraday low of $51.1 and an intraday high of $51.49 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Investment Counsel reduced its stake in VZ by selling 1,813 shares or 15.99% in the most recent quarter. The Hedge Fund company now holds 9,522 shares of VZ which is valued at $488,955. Verizon Communications makes up approx 0.45% of Investment Counsel’s portfolio.Deane Retirement Strategies reduced its stake in VZ by selling 2,401 shares or 2.86% in the most recent quarter. The Hedge Fund company now holds 81,662 shares of VZ which is valued at $4,214,576. Verizon Communications makes up approx 3.95% of Deane Retirement Strategies’s portfolio.Waverton Investment Management Ltd reduced its stake in VZ by selling 13,552 shares or 3.81% in the most recent quarter. The Hedge Fund company now holds 341,941 shares of VZ which is valued at $17,647,575. Verizon Communications makes up approx 1.34% of Waverton Investment Management Ltd’s portfolio.Cardinal Capital Management reduced its stake in VZ by selling 21,210 shares or 8.4% in the most recent quarter. The Hedge Fund company now holds 231,415 shares of VZ which is valued at $11,943,328. Verizon Communications makes up approx 1.36% of Cardinal Capital Management’s portfolio.Graybill Bartz Assoc Ltd boosted its stake in VZ in the latest quarter, The investment management firm added 475 additional shares and now holds a total of 69,855 shares of Verizon Communications which is valued at $3,605,217. Verizon Communications makes up approx 3.30% of Graybill Bartz Assoc Ltd’s portfolio.

On the company’s financial health, Verizon Communications reported $0.89 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jan 21, 2016. Analyst had a consensus of $0.88. The company had revenue of $34254.00 million for the quarter, compared to analysts expectations of $34118.06 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS.

Many Wall Street Analysts have commented on Verizon Communications. Verizon Communications was Downgraded by Jefferies to ” Hold” on Apr 7, 2016. Verizon Communications was Downgraded by Bernstein to ” Mkt Perform” on Apr 7, 2016. Verizon Communications was Initiated by Macquarie to “Neutral” on Apr 5, 2016.

Verizon Communications Inc. (Verizon) is a holding company that acting through its subsidiaries provides communications information and entertainment products and services to consumers businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment includes the Cellco Partnership doing business as Verizon Wireless. Wireless’ communications products and services include wireless voice and data services and equipment sales which are provided to consumer business and government customers across the United States. Wireline’s voice data and video communications products and services include broadband video and data corporate networking solutions data center and cloud services security and managed network services and local and long distance voice services. Verizon provides these products and services to consumers in the United States as well as to carriers businesses and government customers both in the United States and around the world.

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