Verizon Communications (VZ) : Albion Financial Group Ut reduced its stake in Verizon Communications by 0.89% during the most recent quarter end. The investment management company now holds a total of 65,038 shares of Verizon Communications which is valued at $3,287,671 after selling 585 shares in Verizon Communications , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Verizon Communications makes up approximately 0.54% of Albion Financial Group Ut’s portfolio.
Verizon Communications opened for trading at $50.46 and hit $51.8099 on the upside on Wednesday, eventually ending the session at $51.69, with a gain of 2.48% or 1.25 points. The heightened volatility saw the trading volume jump to 1,70,12,431 shares. Company has a market cap of $210,577 M.
Other Hedge Funds, Including , Bridges Investment Management Inc boosted its stake in VZ in the latest quarter, The investment management firm added 3,110 additional shares and now holds a total of 56,729 shares of Verizon Communications which is valued at $2,867,651. Verizon Communications makes up approx 0.50% of Bridges Investment Management Inc’s portfolio.Winslow Evans Crocker reduced its stake in VZ by selling 4,645 shares or 10.17% in the most recent quarter. The Hedge Fund company now holds 41,009 shares of VZ which is valued at $2,073,005. Verizon Communications makes up approx 0.61% of Winslow Evans Crocker’s portfolio.Gw&k Investment Management boosted its stake in VZ in the latest quarter, The investment management firm added 29,585 additional shares and now holds a total of 352,357 shares of Verizon Communications which is valued at $17,811,646. Verizon Communications makes up approx 0.39% of Gw&k Investment Management’s portfolio.Crestpoint Capital Management reduced its stake in VZ by selling 43,400 shares or 72.58% in the most recent quarter. The Hedge Fund company now holds 16,400 shares of VZ which is valued at $842,140. Verizon Communications makes up approx 0.45% of Crestpoint Capital Management’s portfolio.Rnc Capital Management boosted its stake in VZ in the latest quarter, The investment management firm added 153,820 additional shares and now holds a total of 493,351 shares of Verizon Communications which is valued at $25,333,574. Verizon Communications makes up approx 2.47% of Rnc Capital Management’s portfolio.
On the company’s financial health, Verizon Communications reported $1.06 EPS for the quarter, based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus estimate of $1.06. The company had revenue of $32171.00 million for the quarter, compared to analysts expectations of $32481.10 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 EPS.
Many Wall Street Analysts have commented on Verizon Communications. Shares were Reiterated by RBC Capital Mkts on Apr 26, 2016 to “Outperform” and Lowered the Price Target to $ 56 from a previous price target of $58 .Company shares were Reiterated by Barclays on Apr 18, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 52 from a previous price target of $51 .Verizon Communications was Downgraded by Jefferies to ” Hold” on Apr 7, 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. Wirelines 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.