Quotient Investors Lowers stake in Verizon Communications (VZ)

Verizon Communications (VZ) : Quotient Investors reduced its stake in Verizon Communications by 35.52% during the most recent quarter end. The investment management company now holds a total of 58,593 shares of Verizon Communications which is valued at $3,281,208 after selling 32,284 shares in Verizon Communications , the firm said in a disclosure report filed with the SEC on Jul 11, 2016.Verizon Communications makes up approximately 1.50% of Quotient Investors’s portfolio.

Other Hedge Funds, Including , Pacwest Financial Management Inc boosted its stake in VZ in the latest quarter, The investment management firm added 1,545 additional shares and now holds a total of 69,294 shares of Verizon Communications which is valued at $3,880,464. Verizon Communications makes up approx 2.37% of Pacwest Financial Management Inc’s portfolio.Dnb Asset Management As boosted its stake in VZ in the latest quarter, The investment management firm added 8,800 additional shares and now holds a total of 349,388 shares of Verizon Communications which is valued at $19,530,789. Verizon Communications makes up approx 0.40% of Dnb Asset Management As’s portfolio.Moreno Evelyn V boosted its stake in VZ in the latest quarter, The investment management firm added 545 additional shares and now holds a total of 99,306 shares of Verizon Communications which is valued at $5,551,205. Verizon Communications makes up approx 2.07% of Moreno Evelyn V’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.Marshwinds Advisory Co boosted its stake in VZ in the latest quarter, The investment management firm added 75 additional shares and now holds a total of 55,786 shares of Verizon Communications which is valued at $3,118,437. Verizon Communications makes up approx 1.51% of Marshwinds Advisory Co’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.

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