Old Mutual Customised Solutions (proprietary) Ltd Lowers stake in Verizon Communications (VZ)

Verizon Communications (VZ) : Old Mutual Customised Solutions (proprietary) Ltd reduced its stake in Verizon Communications by 15.94% during the most recent quarter end. The investment management company now holds a total of 102,300 shares of Verizon Communications which is valued at $5,211,162 after selling 19,400 shares in Verizon Communications , the firm said in a disclosure report filed with the SEC on May 9, 2016.Verizon Communications makes up approximately 1.35% of Old Mutual Customised Solutions (proprietary) Ltd’s portfolio.

Other Hedge Funds, Including , Davy Asset Management Ltd reduced its stake in VZ by selling 6,244 shares or 3.02% in the most recent quarter. The Hedge Fund company now holds 200,379 shares of VZ which is valued at $10,207,306. Verizon Communications makes up approx 2.00% of Davy Asset Management Ltd’s portfolio.Pbwm Holdings boosted its stake in VZ in the latest quarter, The investment management firm added 1,164 additional shares and now holds a total of 10,385 shares of Verizon Communications which is valued at $530,881. Verizon Communications makes up approx 0.20% of Pbwm Holdings’s portfolio.Mcrae Capital Management Inc boosted its stake in VZ in the latest quarter, The investment management firm added 1,386 additional shares and now holds a total of 13,786 shares of Verizon Communications which is valued at $704,740. Verizon Communications makes up approx 0.32% of Mcrae Capital Management Inc’s portfolio.Bourne Lent Asset Management Inc boosted its stake in VZ in the latest quarter, The investment management firm added 3,400 additional shares and now holds a total of 14,512 shares of Verizon Communications which is valued at $741,853. Verizon Communications makes up approx 0.60% of Bourne Lent Asset Management Inc’s portfolio.Bank Of Stockton boosted its stake in VZ in the latest quarter, The investment management firm added 2,558 additional shares and now holds a total of 30,907 shares of Verizon Communications which is valued at $1,574,403. Verizon Communications makes up approx 0.86% of Bank Of Stockton’s portfolio.

Verizon Communications closed down -0.53 points or -1.03% at $50.94 with 95,61,258 shares getting traded on Friday. Post opening the session at $51.41, the shares hit an intraday low of $50.85 and an intraday high of $51.49 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

Leave a Reply

Verizon Communications - Is it time to Sell?

Top Brokerage Firms are advising their investors on Verizon Communications. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.