10-15 Associates Lowers stake in Verizon Communications (VZ)

Verizon Communications (VZ) : 10-15 Associates reduced its stake in Verizon Communications by 8.19% during the most recent quarter end. The investment management company now holds a total of 559,145 shares of Verizon Communications which is valued at $28.3 Million after selling 49,899 shares in Verizon Communications , the firm said in a disclosure report filed with the SEC on May 25, 2016.Verizon Communications makes up approximately 8.62% of 10-15 Associates’s portfolio.

Other Hedge Funds, Including , M Holdings Securities reduced its stake in VZ by selling 4,226 shares or 24.96% in the most recent quarter. The Hedge Fund company now holds 12,703 shares of VZ which is valued at $643,026. Verizon Communications makes up approx 0.39% of M Holdings Securities’s portfolio.Clear Harbor Asset Management boosted its stake in VZ in the latest quarter, The investment management firm added 2,929 additional shares and now holds a total of 53,422 shares of Verizon Communications which is valued at $2.7 Million. Verizon Communications makes up approx 0.58% of Clear Harbor Asset Management’s portfolio.National Asset Management boosted its stake in VZ in the latest quarter, The investment management firm added 847 additional shares and now holds a total of 89,887 shares of Verizon Communications which is valued at $4.5 Million. Verizon Communications makes up approx 0.93% of National Asset Management’s portfolio.Covington Investment Advisors boosted its stake in VZ in the latest quarter, The investment management firm added 440 additional shares and now holds a total of 55,775 shares of Verizon Communications which is valued at $2.8 Million. Verizon Communications makes up approx 1.30% of Covington Investment Advisors’s portfolio.Rpg Family Wealth Advisory boosted its stake in VZ in the latest quarter, The investment management firm added 68,963 additional shares and now holds a total of 70,342 shares of Verizon Communications which is valued at $3.6 Million. Verizon Communications makes up approx 2.80% of Rpg Family Wealth Advisory’s portfolio.

Verizon Communications closed down -0.47 points or -0.92% at $50.43 with 1,06,70,751 shares getting traded on Wednesday. Post opening the session at $50.87, the shares hit an intraday low of $50.22 and an intraday high of $50.98 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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. 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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