Blackrock Group Ltd buys $1,947,864,380 stake in Verizon Communications (VZ)

Verizon Communications (VZ) : Blackrock Group Ltd scooped up 7,257 additional shares in Verizon Communications during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 36,306,885 shares of Verizon Communications which is valued at $1,947,864,380.Verizon Communications makes up approximately 0.98% of Blackrock Group Ltd’s portfolio.

Other Hedge Funds, Including , Credit Agricole S A boosted its stake in VZ in the latest quarter, The investment management firm added 235,054 additional shares and now holds a total of 3,374,148 shares of Verizon Communications which is valued at $181,023,040. Verizon Communications makes up approx 0.68% of Credit Agricole S A’s portfolio.Cfo4life boosted its stake in VZ in the latest quarter, The investment management firm added 911 additional shares and now holds a total of 6,941 shares of Verizon Communications which is valued at $373,842. Verizon Communications makes up approx 0.31% of Cfo4life’s portfolio.Bender Robert Associates reduced its stake in VZ by selling 120 shares or 1.92% in the most recent quarter. The Hedge Fund company now holds 6,125 shares of VZ which is valued at $343,613. Verizon Communications makes up approx 0.23% of Bender Robert Associates’s portfolio.Dynamic Advisors Solutions boosted its stake in VZ in the latest quarter, The investment management firm added 6,657 additional shares and now holds a total of 113,390 shares of Verizon Communications which is valued at $6,361,179. Verizon Communications makes up approx 2.52% of Dynamic Advisors Solutions’s portfolio.Franklin Street Advisors Inc Nc boosted its stake in VZ in the latest quarter, The investment management firm added 20,236 additional shares and now holds a total of 105,723 shares of Verizon Communications which is valued at $5,920,488. Verizon Communications makes up approx 1.09% of Franklin Street Advisors Inc Nc’s portfolio.

Verizon Communications closed down -0.42 points or -0.79% at $52.45 with 1,19,90,982 shares getting traded on Friday. Post opening the session at $52.89, the shares hit an intraday low of $52.16 and an intraday high of $52.91 and the price fluctuated in this range throughout the day.Shares ended Friday 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. 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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