Prentiss Smith Co Inc Lowers stake in Verizon Communications (VZ)

Verizon Communications (VZ) : Prentiss Smith Co Inc reduced its stake in Verizon Communications by 0.1% during the most recent quarter end. The investment management company now holds a total of 195,726 shares of Verizon Communications which is valued at $10,005,513 after selling 187 shares in Verizon Communications , the firm said in a disclosure report filed with the SEC on May 2, 2016.Verizon Communications makes up approximately 5.80% of Prentiss Smith Co Inc’s portfolio.

Verizon Communications opened for trading at $50.91 and hit $51.14 on the upside on Friday, eventually ending the session at $51.12, with a gain of 0.55% or 0.28 points. The heightened volatility saw the trading volume jump to 97,82,309 shares. Company has a market cap of $208,380 M.

Other Hedge Funds, Including , Calvert Investment Management reduced its stake in VZ by selling 276,533 shares or 28.04% in the most recent quarter. The Hedge Fund company now holds 709,791 shares of VZ which is valued at $36,284,516. Verizon Communications makes up approx 1.60% of Calvert Investment Management’s portfolio.Schmidt P J Investment Management Inc reduced its stake in VZ by selling 2,130 shares or 1.74% in the most recent quarter. The Hedge Fund company now holds 120,109 shares of VZ which is valued at $6,118,352. Verizon Communications makes up approx 2.41% of Schmidt P J Investment Management Inc’s portfolio.Granite Investment Advisors reduced its stake in VZ by selling 300 shares or 3.09% in the most recent quarter. The Hedge Fund company now holds 9,401 shares of VZ which is valued at $478,887. Verizon Communications makes up approx 0.10% of Granite Investment Advisors’s portfolio.Pineno Levin Ford Asset Management boosted its stake in VZ in the latest quarter, The investment management firm added 1,110 additional shares and now holds a total of 31,764 shares of Verizon Communications which is valued at $1,618,058. Verizon Communications makes up approx 0.85% of Pineno Levin Ford Asset 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. 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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