Nisa Investment Advisors buys $69,175,622 stake in Verizon Communications (VZ)

Verizon Communications (VZ) : Nisa Investment Advisors scooped up 138,238 additional shares in Verizon Communications during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 15, 2016. The investment management firm now holds a total of 1,236,825 shares of Verizon Communications which is valued at $69,175,622.Verizon Communications makes up approximately 0.90% of Nisa Investment Advisors’s portfolio.

Other Hedge Funds, Including , Professional Advisory Services Inc reduced its stake in VZ by selling 34,570 shares or 10.72% in the most recent quarter. The Hedge Fund company now holds 288,043 shares of VZ which is valued at $16,110,245. Verizon Communications makes up approx 3.59% of Professional Advisory Services Inc’s portfolio.Cabot Wealth Management Inc boosted its stake in VZ in the latest quarter, The investment management firm added 645 additional shares and now holds a total of 97,755 shares of Verizon Communications which is valued at $5,474,280. Verizon Communications makes up approx 1.41% of Cabot Wealth Management Inc’s portfolio.Newman Dignan Sheerar reduced its stake in VZ by selling 456 shares or 1.05% in the most recent quarter. The Hedge Fund company now holds 43,083 shares of VZ which is valued at $2,408,340. Verizon Communications makes up approx 1.55% of Newman Dignan Sheerar’s portfolio.Dnb Asset Management As boosted its stake in VZ in the latest quarter, The investment management firm added 8,800 additional shares and now holds a total of 349,388 shares of Verizon Communications which is valued at $19,530,789. Verizon Communications makes up approx 0.40% of Dnb Asset Management As’s portfolio.

Verizon Communications opened for trading at $55.87 and hit $56 on the upside on Monday, eventually ending the session at $55.93, with a gain of 0.16% or 0.09 points. The heightened volatility saw the trading volume jump to 96,23,280 shares. Company has a market cap of $227,987 M.

On the company’s financial health, Verizon Communications reported $1.06 EPS for the quarter, based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus estimate of $1.06. The company had revenue of $32171.00 million for the quarter, compared to analysts expectations of $32481.10 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 EPS.

Many Wall Street Analysts have commented on Verizon Communications. 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 .Company shares were Reiterated by Barclays on Apr 18, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 52 from a previous price target of $51 .

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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