Verizon Communications (VZ) : Capital Advisors Incok reduced its stake in Verizon Communications by 0.19% during the most recent quarter end. The investment management company now holds a total of 222,196 shares of Verizon Communications which is valued at $11,358,660 after selling 427 shares in Verizon Communications , the firm said in a disclosure report filed with the SEC on May 3, 2016.Verizon Communications makes up approximately 1.83% of Capital Advisors Incok’s portfolio.
Other Hedge Funds, Including , Bluecrest Capital Management Ltd added VZ to its portfolio by purchasing 49,801 company shares during the most recent quarter which is valued at $2,545,827. Verizon Communications makes up approx 0.22% of Bluecrest Capital Management Ltd’s portfolio. Moisand Fitzgerald Tamayo sold out all of its stake in VZ during the most recent quarter. The investment firm sold 1,316 shares of VZ which is valued $67,037.United Bank reduced its stake in VZ by selling 9,027 shares or 44.45% in the most recent quarter. The Hedge Fund company now holds 11,282 shares of VZ which is valued at $574,705. Verizon Communications makes up approx 0.26% of United Bank’s portfolio.Chemung Canal Trust Co boosted its stake in VZ in the latest quarter, The investment management firm added 46,148 additional shares and now holds a total of 148,789 shares of Verizon Communications which is valued at $7,521,284. Verizon Communications makes up approx 1.71% of Chemung Canal Trust Co’s portfolio.Lincluden Management Ltd reduced its stake in VZ by selling 14,840 shares or 7.86% in the most recent quarter. The Hedge Fund company now holds 173,890 shares of VZ which is valued at $8,790,140. Verizon Communications makes up approx 1.40% of Lincluden Management Ltd’s portfolio.
Verizon Communications opened for trading at $51.38 and hit $51.55 on the upside on Tuesday, eventually ending the session at $51.54, with a gain of 0.90% or 0.46 points. The heightened volatility saw the trading volume jump to 79,03,473 shares. Company has a market cap of $210,092 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 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. Wirelines 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.