W.g. Shaheen Associates Dba Whitney Co buys $7,532,491 stake in Verizon Communications (VZ)

Verizon Communications (VZ) : W.g. Shaheen Associates Dba Whitney Co scooped up 1,737 additional shares in Verizon Communications during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 21, 2016. The investment management firm now holds a total of 134,269 shares of Verizon Communications which is valued at $7,532,491.Verizon Communications makes up approximately 2.96% of W.g. Shaheen Associates Dba Whitney Co’s portfolio.

Other Hedge Funds, Including , Tiaa Cref Trust Co Fsbmo boosted its stake in VZ in the latest quarter, The investment management firm added 11,961 additional shares and now holds a total of 198,309 shares of Verizon Communications which is valued at $11,125,135. Verizon Communications makes up approx 0.10% of Tiaa Cref Trust Co Fsbmo’s portfolio.Graybill Bartz Assoc Ltd reduced its stake in VZ by selling 1,385 shares or 1.98% in the most recent quarter. The Hedge Fund company now holds 68,470 shares of VZ which is valued at $3,808,301. Verizon Communications makes up approx 3.37% of Graybill Bartz Assoc Ltd’s portfolio.Blb&b Advisors boosted its stake in VZ in the latest quarter, The investment management firm added 550 additional shares and now holds a total of 211,626 shares of Verizon Communications which is valued at $11,770,638. Verizon Communications makes up approx 2.15% of Blb&b Advisors’s portfolio.James Investment Research Inc boosted its stake in VZ in the latest quarter, The investment management firm added 139,153 additional shares and now holds a total of 305,094 shares of Verizon Communications which is valued at $17,063,907. Verizon Communications makes up approx 0.42% of James Investment Research Inc’s portfolio.Verus Financial Partners reduced its stake in VZ by selling 160 shares or 1.79% in the most recent quarter. The Hedge Fund company now holds 8,801 shares of VZ which is valued at $492,240. Verizon Communications makes up approx 0.22% of Verus Financial Partners’s portfolio.

Verizon Communications closed down -0.46 points or -0.83% at $54.86 with 1,06,65,079 shares getting traded on Thursday. Post opening the session at $55.2, the shares hit an intraday low of $54.64 and an intraday high of $55.21 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Verizon Communications reported $0.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.93. The company had revenue of $30532.00 million for the quarter, compared to analysts expectations of $30968.11 million. The company’s revenue was down -5.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.04 EPS.

Many Wall Street Analysts have commented on Verizon Communications. Verizon Communications was Downgraded by Hilliard Lyons to ” Neutral” on Jul 27, 2016. Verizon Communications was Downgraded by Oppenheimer to ” Perform” on Jul 20, 2016. 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 .

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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