VERIZON COMMUNICATIONS COM (VZ) : Concannon Wealth Management scooped up 2,166 additional shares in VERIZON COMMUNICATIONS COM during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 112,825 shares of VERIZON COMMUNICATIONS COM which is valued at $5,703,304.VERIZON COMMUNICATIONS COM makes up approximately 5.79% of Concannon Wealth Management’s portfolio.
VERIZON COMMUNICATIONS COM 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 , Dorchester Wealth Management Co reduced its stake in VZ by selling 400 shares or 0.64% in the most recent quarter. The Hedge Fund company now holds 62,129 shares of VZ which is valued at $3,140,621. VERIZON COMMUNICATIONS COM makes up approx 1.15% of Dorchester Wealth Management Co’s portfolio.Sit Investment Associates Inc boosted its stake in VZ in the latest quarter, The investment management firm added 72,840 additional shares and now holds a total of 2,340,740 shares of VERIZON COMMUNICATIONS COM which is valued at $120,196,999. VERIZON COMMUNICATIONS COM makes up approx 2.18% of Sit Investment Associates Inc’s portfolio.Bath Savings Trust Co reduced its stake in VZ by selling 134 shares or 0.44% in the most recent quarter. The Hedge Fund company now holds 30,480 shares of VZ which is valued at $1,565,148. VERIZON COMMUNICATIONS COM makes up approx 0.50% of Bath Savings Trust Co’s portfolio.Heritage Investors Management Corp reduced its stake in VZ by selling 16,035 shares or 4.31% in the most recent quarter. The Hedge Fund company now holds 355,884 shares of VZ which is valued at $18,274,643. VERIZON COMMUNICATIONS COM makes up approx 1.39% of Heritage Investors Management Corp’s portfolio.
On the company’s financial health, VERIZON COMMUNICATIONS COM 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 COM. 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 COM 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.