Seaward Management Limited Partnership Lowers stake in VERIZON COMMUNICATIONS COM (VZ)

VERIZON COMMUNICATIONS COM (VZ) : Seaward Management Limited Partnership reduced its stake in VERIZON COMMUNICATIONS COM by 1.86% during the most recent quarter end. The investment management company now holds a total of 1,124,323 shares of VERIZON COMMUNICATIONS COM which is valued at $56,834,528 after selling 21,344 shares in VERIZON COMMUNICATIONS COM , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.VERIZON COMMUNICATIONS COM makes up approximately 3.03% of Seaward Management Limited Partnership’s portfolio.

VERIZON COMMUNICATIONS COM opened for trading at $50.46 and hit $51.8099 on the upside on Wednesday, eventually ending the session at $51.69, with a gain of 2.48% or 1.25 points. The heightened volatility saw the trading volume jump to 1,70,12,431 shares. Company has a market cap of $210,577 M.

Other Hedge Funds, Including , Jolley Asset Management boosted its stake in VZ in the latest quarter, The investment management firm added 700 additional shares and now holds a total of 900 shares of VERIZON COMMUNICATIONS COM which is valued at $45,495. VERIZON COMMUNICATIONS COM makes up approx 0.04% of Jolley Asset Management’s portfolio.Palo Capital boosted its stake in VZ in the latest quarter, The investment management firm added 15,985 additional shares and now holds a total of 74,085 shares of VERIZON COMMUNICATIONS COM which is valued at $3,744,997. VERIZON COMMUNICATIONS COM makes up approx 2.95% of Palo Capital’s portfolio.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 COM which is valued at $1,556,367. VERIZON COMMUNICATIONS COM makes up approx 0.04% of Horizon Kinetics’s portfolio.Eastern Bank reduced its stake in VZ by selling 707 shares or 0.19% in the most recent quarter. The Hedge Fund company now holds 371,443 shares of VZ which is valued at $19,073,598. VERIZON COMMUNICATIONS COM makes up approx 1.54% of Eastern Bank’s portfolio.Mai Capital Management reduced its stake in VZ by selling 26,279 shares or 13.16% in the most recent quarter. The Hedge Fund company now holds 173,360 shares of VZ which is valued at $8,947,110. VERIZON COMMUNICATIONS COM makes up approx 0.74% of Mai Capital Management’s portfolio.

On the company’s financial health, VERIZON COMMUNICATIONS COM 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 COM. 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 COM 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.

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