Ngam Advisors buys $28,625,589 stake in Verizon Communications (VZ)

Verizon Communications (VZ) : Ngam Advisors scooped up 53,357 additional shares in Verizon Communications during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 531,087 shares of Verizon Communications which is valued at $28,625,589.Verizon Communications makes up approximately 0.38% of Ngam Advisors’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) reduced its stake in VZ by selling 86,861 shares or 11.38% in the most recent quarter. The Hedge Fund company now holds 676,401 shares of VZ which is valued at $36,458,014. Verizon Communications makes up approx 0.47% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.Loeb Partners Corp reduced its stake in VZ by selling 143 shares or 1.26% in the most recent quarter. The Hedge Fund company now holds 11,202 shares of VZ which is valued at $628,432. Verizon Communications makes up approx 0.20% of Loeb Partners Corp’s portfolio.Gateway Investment Advisers reduced its stake in VZ by selling 84,861 shares or 3.28% in the most recent quarter. The Hedge Fund company now holds 2,505,482 shares of VZ which is valued at $140,306,992. Verizon Communications makes up approx 1.18% of Gateway Investment Advisers’s portfolio.Curian Capital reduced its stake in VZ by selling 208,438 shares or 67.33% in the most recent quarter. The Hedge Fund company now holds 101,134 shares of VZ which is valued at $5,653,391. Verizon Communications makes up approx 0.40% of Curian Capital’s portfolio.Marshwinds Advisory Co boosted its stake in VZ in the latest quarter, The investment management firm added 75 additional shares and now holds a total of 55,786 shares of Verizon Communications which is valued at $3,118,437. Verizon Communications makes up approx 1.51% of Marshwinds Advisory Co’s portfolio.

Verizon Communications opened for trading at $54 and hit $54.14 on the upside on Thursday, eventually ending the session at $53.93, with a gain of 0.06% or 0.03 points. The heightened volatility saw the trading volume jump to 1,13,09,813 shares. Company has a market cap of $219,835 M.

On the company’s financial health, Verizon Communications reported $0.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.93. The company had revenue of $30532.00 million for the quarter, compared to analysts expectations of $30968.11 million. The company’s revenue was down -5.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.04 EPS.

Many Wall Street Analysts have commented on Verizon Communications. Company shares were Reiterated by FBR Capital on Jul 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 57 from a previous price target of $54 .Verizon Communications was Downgraded by Hilliard Lyons to ” Neutral” on Jul 27, 2016. Verizon Communications was Downgraded by Oppenheimer to ” Perform” on Jul 20, 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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