Calamos Wealth Management buys $5,174,965 stake in Verizon Communications (VZ)

Verizon Communications (VZ) : Calamos Wealth Management scooped up 35,323 additional shares in Verizon Communications during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 93,546 shares of Verizon Communications which is valued at $5,174,965.Verizon Communications makes up approximately 0.99% of Calamos Wealth Management’s portfolio.

Other Hedge Funds, Including , Smith Asset Management Group Lp reduced its stake in VZ by selling 363,900 shares or 63.89% in the most recent quarter. The Hedge Fund company now holds 205,630 shares of VZ which is valued at $11,375,452. Verizon Communications makes up approx 0.33% of Smith Asset Management Group Lp’s portfolio.Louisiana State Employees Retirement System reduced its stake in VZ by selling 5,000 shares or 1.83% in the most recent quarter. The Hedge Fund company now holds 267,500 shares of VZ which is valued at $14,798,100. Verizon Communications makes up approx 0.75% of Louisiana State Employees Retirement System’s portfolio. Naples Global Advisors added VZ to its portfolio by purchasing 4,093 company shares during the most recent quarter which is valued at $229,208. Verizon Communications makes up approx 0.09% of Naples Global Advisors’s portfolio.

Verizon Communications opened for trading at $54.99 and hit $55.72 on the upside on Friday, eventually ending the session at $55.41, with a gain of 1.00% or 0.55 points. The heightened volatility saw the trading volume jump to 1,55,08,926 shares. Company has a market cap of $225,867 M.

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. Company shares were Reiterated by FBR Capital on Jul 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 57 from a previous price target of $54 .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.

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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