Professional Advisory Services Inc Lowers stake in Verizon Communications (VZ)

Verizon Communications (VZ) : Professional Advisory Services Inc reduced its stake in Verizon Communications by 6.75% during the most recent quarter end. The investment management company now holds a total of 322,613 shares of Verizon Communications which is valued at $16,566,178 after selling 23,342 shares in Verizon Communications , the firm said in a disclosure report filed with the SEC on Apr 15, 2016.Verizon Communications makes up approximately 3.87% of Professional Advisory Services Inc’s portfolio.

Verizon Communications closed down -1.72 points or -3.32% at $50.03 with 3,21,72,208 shares getting traded on Wednesday. Post opening the session at $50.56, the shares hit an intraday low of $49.47 and an intraday high of $50.68 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Horizon Kinetics boosted its stake in VZ in the latest quarter, The investment management firm added 1,162 additional shares and now holds a total of 30,309 shares of Verizon Communications which is valued at $1,556,367. Verizon Communications makes up approx 0.04% of Horizon Kinetics’s portfolio.Quotient Investors boosted its stake in VZ in the latest quarter, The investment management firm added 3,884 additional shares and now holds a total of 90,877 shares of Verizon Communications which is valued at $4,666,534. Verizon Communications makes up approx 1.69% of Quotient Investors’s portfolio.Gradient Investments reduced its stake in VZ by selling 4,296 shares or 5.27% in the most recent quarter. The Hedge Fund company now holds 77,227 shares of VZ which is valued at $3,965,606. Verizon Communications makes up approx 0.49% of Gradient Investments’s portfolio.Chelsea Counsel Co reduced its stake in VZ by selling 121,307 shares or 35.7% in the most recent quarter. The Hedge Fund company now holds 218,458 shares of VZ which is valued at $11,274,617. Verizon Communications makes up approx 3.26% of Chelsea Counsel Co’s portfolio.Trust Co Of Virginia Va boosted its stake in VZ in the latest quarter, The investment management firm added 626 additional shares and now holds a total of 32,237 shares of Verizon Communications which is valued at $1,663,752. Verizon Communications makes up approx 0.30% of Trust Co Of Virginia Va’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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