Gemmer Asset Management buys $296,149 stake in Verizon Communications (VZ)

Verizon Communications (VZ) : Gemmer Asset Management scooped up 566 additional shares in Verizon Communications during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 17, 2016. The investment management firm now holds a total of 5,890 shares of Verizon Communications which is valued at $296,149.Verizon Communications makes up approximately 0.15% of Gemmer Asset Management’s portfolio.

Other Hedge Funds, Including , Dorchester Wealth Management Co reduced its stake in VZ by selling 1,620 shares or 2.63% in the most recent quarter. The Hedge Fund company now holds 60,034 shares of VZ which is valued at $3,018,510. Verizon Communications makes up approx 1.14% of Dorchester Wealth Management Co’s portfolio.Sarasin Partners Llp boosted its stake in VZ in the latest quarter, The investment management firm added 409 additional shares and now holds a total of 14,556 shares of Verizon Communications which is valued at $731,876. Verizon Communications makes up approx 0.01% of Sarasin Partners Llp’s portfolio.Highland Capital Management reduced its stake in VZ by selling 36,182 shares or 13.07% in the most recent quarter. The Hedge Fund company now holds 240,708 shares of VZ which is valued at $12,105,205. Verizon Communications makes up approx 1.04% of Highland Capital Management’s portfolio.Weaver C. Barksdale Associates boosted its stake in VZ in the latest quarter, The investment management firm added 1,045 additional shares and now holds a total of 16,900 shares of Verizon Communications which is valued at $843,310. Verizon Communications makes up approx 1.45% of Weaver C. Barksdale Associates’s portfolio.

Verizon Communications closed down -0.01 points or -0.02% at $50.28 with 88,53,208 shares getting traded on Friday. Post opening the session at $50.34, the shares hit an intraday low of $50.27 and an intraday high of $50.61 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Verizon Communications - Is it time to Sell?

Top Brokerage Firms are advising their investors on Verizon Communications. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.