Portfolio Solutions Exits Position in Verizon Communications (VZ)

Verizon Communications (VZ) : Portfolio Solutions has sold out all of its stake in Verizon Communications during the most recent quarter, according to the disclosure filed by the company on Oct 17, 2016 with the SEC. The investment management company has sold out 3,671 shares of Verizon Communications which is valued at $184,578.

Other Hedge Funds, Including , Blb&b Advisors reduced its stake in VZ by selling 853 shares or 0.4% in the most recent quarter. The Hedge Fund company now holds 210,773 shares of VZ which is valued at $10,597,666. Verizon Communications makes up approx 1.97% of Blb&b Advisors’s portfolio. Gateway Advisory added VZ to its portfolio by purchasing 8,444 company shares during the most recent quarter which is valued at $424,564. Verizon Communications makes up approx 0.15% of Gateway Advisory’s portfolio.Peddock Capital Advisors boosted its stake in VZ in the latest quarter, The investment management firm added 293 additional shares and now holds a total of 24,766 shares of Verizon Communications which is valued at $1,245,234. Verizon Communications makes up approx 0.82% of Peddock Capital Advisors’s portfolio.Cutler Group Lp boosted its stake in VZ in the latest quarter, The investment management firm added 52,008 additional shares and now holds a total of 54,308 shares of Verizon Communications which is valued at $2,725,719. Verizon Communications makes up approx 0.17% of Cutler Group Lp’s portfolio.E&g Advisors Lp boosted its stake in VZ in the latest quarter, The investment management firm added 3,002 additional shares and now holds a total of 22,831 shares of Verizon Communications which is valued at $1,145,888. Verizon Communications makes up approx 0.67% of E&g Advisors Lp’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.