Boston Advisors buys $35,354,901 stake in Verizon Communications (VZ)

Verizon Communications (VZ) : Boston Advisors scooped up 513,929 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 639,098 shares of Verizon Communications which is valued at $35,354,901.Verizon Communications makes up approximately 0.86% of Boston Advisors’s portfolio.

Other Hedge Funds, Including , Rs Investment Management Co reduced its stake in VZ by selling 308 shares or 2.34% in the most recent quarter. The Hedge Fund company now holds 12,861 shares of VZ which is valued at $711,471. Verizon Communications makes up approx 0.01% of Rs Investment Management Co’s portfolio.Bright Rock Capital Management boosted its stake in VZ in the latest quarter, The investment management firm added 5,000 additional shares and now holds a total of 155,549 shares of Verizon Communications which is valued at $8,726,299. Verizon Communications makes up approx 2.76% of Bright Rock Capital Management’s portfolio.First National Bank Of Mount Dora Trust Investment Services boosted its stake in VZ in the latest quarter, The investment management firm added 834 additional shares and now holds a total of 43,925 shares of Verizon Communications which is valued at $2,443,109. Verizon Communications makes up approx 1.35% of First National Bank Of Mount Dora Trust Investment Services’s portfolio.Baker Boyer National Bank reduced its stake in VZ by selling 217 shares or 3.11% in the most recent quarter. The Hedge Fund company now holds 6,753 shares of VZ which is valued at $378,168. Verizon Communications makes up approx 1.69% of Baker Boyer National Bank’s portfolio.First American Trust Fsb reduced its stake in VZ by selling 439 shares or 7.35% in the most recent quarter. The Hedge Fund company now holds 5,537 shares of VZ which is valued at $309,518. Verizon Communications makes up approx 0.11% of First American Trust Fsb’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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