American National Bank buys $8,609,494 stake in Verizon Communications (VZ)

Verizon Communications (VZ) : American National Bank scooped up 1,198 additional shares in Verizon Communications during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 8, 2016. The investment management firm now holds a total of 154,016 shares of Verizon Communications which is valued at $8,609,494.Verizon Communications makes up approximately 3.18% of American National Bank’s portfolio.

Other Hedge Funds, Including , Hollencrest Securities boosted its stake in VZ in the latest quarter, The investment management firm added 42,103 additional shares and now holds a total of 102,162 shares of Verizon Communications which is valued at $5,710,856. Verizon Communications makes up approx 0.89% of Hollencrest Securities’s portfolio.Spirit Of America Management Corpny boosted its stake in VZ in the latest quarter, The investment management firm added 1,000 additional shares and now holds a total of 24,390 shares of Verizon Communications which is valued at $1,363,401. Verizon Communications makes up approx 0.20% of Spirit Of America Management Corpny’s portfolio.Baxter Bros Inc boosted its stake in VZ in the latest quarter, The investment management firm added 4,806 additional shares and now holds a total of 36,316 shares of Verizon Communications which is valued at $2,030,064. Verizon Communications makes up approx 0.63% of Baxter Bros Inc’s portfolio.First Financial Bank N.a. – Trust Division boosted its stake in VZ in the latest quarter, The investment management firm added 2,225 additional shares and now holds a total of 122,784 shares of Verizon Communications which is valued at $6,940,980. Verizon Communications makes up approx 1.35% of First Financial Bank N.a. – Trust Division’s portfolio.

Verizon Communications opened for trading at $55.58 and hit $56.04 on the upside on Wednesday, eventually ending the session at $56, with a gain of 0.96% or 0.53 points. The heightened volatility saw the trading volume jump to 1,14,05,623 shares. Company has a market cap of $228,272 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 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.

Leave a Reply

Verizon Communications - Is it time to Sell?

Top Brokerage Firms are advising their investors on Verizon Communications. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.