State Of Alaska Department Of Revenue buys $17,505,164 stake in Verizon Communications (VZ)

Verizon Communications (VZ) : State Of Alaska Department Of Revenue scooped up 60,446 additional shares in Verizon Communications during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 12, 2016. The investment management firm now holds a total of 340,899 shares of Verizon Communications which is valued at $17,505,164.Verizon Communications makes up approximately 1.82% of State Of Alaska Department Of Revenue’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 , Oakwood Capital Managementca boosted its stake in VZ in the latest quarter, The investment management firm added 3,321 additional shares and now holds a total of 150,380 shares of Verizon Communications which is valued at $7,722,013. Verizon Communications makes up approx 2.02% of Oakwood Capital Managementca’s portfolio.Grassi Investment Management reduced its stake in VZ by selling 133 shares or 0.09% in the most recent quarter. The Hedge Fund company now holds 154,565 shares of VZ which is valued at $7,936,913. Verizon Communications makes up approx 1.55% of Grassi Investment Management’s portfolio.Lynch Associatesin boosted its stake in VZ in the latest quarter, The investment management firm added 2,668 additional shares and now holds a total of 21,565 shares of Verizon Communications which is valued at $1,107,363. Verizon Communications makes up approx 0.52% of Lynch Associatesin’s portfolio.Creative Planning reduced its stake in VZ by selling 11,381 shares or 2.89% in the most recent quarter. The Hedge Fund company now holds 382,910 shares of VZ which is valued at $19,761,985. Verizon Communications makes up approx 0.16% of Creative Planning’s portfolio.Nadler Financial Group boosted its stake in VZ in the latest quarter, The investment management firm added 907 additional shares and now holds a total of 11,082 shares of Verizon Communications which is valued at $571,942. Verizon Communications makes up approx 0.25% of Nadler Financial Group’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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