Verus Financial Partners Lowers stake in Verizon Communications (VZ)

Verizon Communications (VZ) : Verus Financial Partners reduced its stake in Verizon Communications by 1.79% during the most recent quarter end. The investment management company now holds a total of 8,801 shares of Verizon Communications which is valued at $492,240 after selling 160 shares in Verizon Communications , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Verizon Communications makes up approximately 0.22% of Verus Financial Partners’s portfolio.

Other Hedge Funds, Including , Mitchell Mcleod Pugh Williams Inc boosted its stake in VZ in the latest quarter, The investment management firm added 1,200 additional shares and now holds a total of 16,453 shares of Verizon Communications which is valued at $920,216. Verizon Communications makes up approx 0.68% of Mitchell Mcleod Pugh Williams Inc’s portfolio.Gradient Investments reduced its stake in VZ by selling 72,855 shares or 94.34% in the most recent quarter. The Hedge Fund company now holds 4,372 shares of VZ which is valued at $244,526. Verizon Communications makes up approx 0.03% of Gradient Investments’s portfolio.Salem Capital Management Inc boosted its stake in VZ in the latest quarter, The investment management firm added 2,312 additional shares and now holds a total of 77,156 shares of Verizon Communications which is valued at $4,320,736. Verizon Communications makes up approx 2.42% of Salem Capital Management Inc’s portfolio.Ct Mason reduced its stake in VZ by selling 1,324 shares or 1.58% in the most recent quarter. The Hedge Fund company now holds 82,544 shares of VZ which is valued at $4,614,210. Verizon Communications makes up approx 1.93% of Ct Mason’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 $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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