Atria Investments buys $3,162,711 stake in Verizon Communications (VZ)

Verizon Communications (VZ) : Atria Investments scooped up 18,307 additional shares in Verizon Communications during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 19, 2016. The investment management firm now holds a total of 62,566 shares of Verizon Communications which is valued at $3,162,711.Verizon Communications makes up approximately 0.35% of Atria Investments’s portfolio.

Verizon Communications opened for trading at $50.15 and hit $50.63 on the upside on Friday, eventually ending the session at $50.55, with a gain of 1.04% or 0.52 points. The heightened volatility saw the trading volume jump to 1,78,23,305 shares. Company has a market cap of $205,933 M.

Other Hedge Funds, Including , Firstmerit Bank N A Trustee reduced its stake in VZ by selling 5,228 shares or 4.56% in the most recent quarter. The Hedge Fund company now holds 109,392 shares of VZ which is valued at $5,529,766. Verizon Communications makes up approx 0.45% of Firstmerit Bank N A Trustee’s portfolio.North American Management Corp boosted its stake in VZ in the latest quarter, The investment management firm added 78 additional shares and now holds a total of 18,854 shares of Verizon Communications which is valued at $968,153. Verizon Communications makes up approx 0.16% of North American Management Corp’s portfolio.Independent Portfolio Consultants boosted its stake in VZ in the latest quarter, The investment management firm added 1,235 additional shares and now holds a total of 5,026 shares of Verizon Communications which is valued at $258,085. Verizon Communications makes up approx 0.07% of Independent Portfolio Consultants’s portfolio. Santa Fe Partners added VZ to its portfolio by purchasing 41,985 company shares during the most recent quarter which is valued at $2,155,930. Verizon Communications makes up approx 0.35% of Santa Fe Partners’s portfolio. First American Trust Fsb added VZ to its portfolio by purchasing 5,976 company shares during the most recent quarter which is valued at $308,421. Verizon Communications makes up approx 0.11% of First American Trust Fsb’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. 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 was Downgraded by Bernstein to ” Mkt Perform” 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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