Regent Investment Management Lowers stake in Verizon Communications (VZ)

Verizon Communications (VZ) : Regent Investment Management reduced its stake in Verizon Communications by 0.2% during the most recent quarter end. The investment management company now holds a total of 36,055 shares of Verizon Communications which is valued at $2,016,556 after selling 71 shares in Verizon Communications , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Verizon Communications makes up approximately 1.05% of Regent Investment Management’s portfolio.

Other Hedge Funds, Including , Sumitomo Life Insurance Co reduced its stake in VZ by selling 5,261 shares or 3.4% in the most recent quarter. The Hedge Fund company now holds 149,497 shares of VZ which is valued at $8,361,367. Verizon Communications makes up approx 1.11% of Sumitomo Life Insurance Co’s portfolio.Gierl Augustine Investment Management Inc reduced its stake in VZ by selling 1,574 shares or 2.76% in the most recent quarter. The Hedge Fund company now holds 55,491 shares of VZ which is valued at $3,107,496. Verizon Communications makes up approx 3.27% of Gierl Augustine Investment Management Inc’s portfolio.Davenport Co boosted its stake in VZ in the latest quarter, The investment management firm added 5,132 additional shares and now holds a total of 957,395 shares of Verizon Communications which is valued at $53,614,120. Verizon Communications makes up approx 0.80% of Davenport Co’s portfolio.Weaver C. Barksdale Associates boosted its stake in VZ in the latest quarter, The investment management firm added 308 additional shares and now holds a total of 15,855 shares of Verizon Communications which is valued at $887,880. Verizon Communications makes up approx 1.51% of Weaver C. Barksdale Associates’s portfolio.Next Financial Group Inc boosted its stake in VZ in the latest quarter, The investment management firm added 3,196 additional shares and now holds a total of 64,533 shares of Verizon Communications which is valued at $3,607,395. Verizon Communications makes up approx 1.13% of Next Financial Group Inc’s portfolio.

Verizon Communications opened for trading at $55.87 and hit $56 on the upside on Monday, eventually ending the session at $55.93, with a gain of 0.16% or 0.09 points. The heightened volatility saw the trading volume jump to 96,23,280 shares. Company has a market cap of $227,987 M.

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 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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