Catalyst Capital Advisors Llc decreased its stake in Verizon Communications Inc (VZ) by 67.07% based on its latest 2016Q3 regulatory filing with the SEC. Catalyst Capital Advisors Llc sold 95,274 shares as the company’s stock declined 7.56% while stock markets rallied. The institutional investor held 46,779 shares of the telecommunications equipment company at the end of 2016Q3, valued at $2.43 million, down from 142,053 at the end of the previous reported quarter. Catalyst Capital Advisors Llc who had been investing in Verizon Communications Inc for a number of months, seems to be less bullish one the $212.74B market cap company. The stock increased 0.13% or $0.07 during the last trading session, hitting $52.76. About 3 shares traded hands. Verizon Communications Inc. (NYSE:VZ) has risen 1.95% since June 7, 2016 and is uptrending. It has underperformed by 5.47% the S&P500.
Catalyst Capital Advisors Llc is a New York-based institutional investor with more than $653.50 million AUM in March, 2014. Taken from Catalyst Capital Advisors latest Adv, the fund reported to have 6 full and part-time employees. Among which 5 performing investment advisory and research functions. The institutional investor had between 11-25 clients.
Insitutional Activity: The institutional sentiment decreased to 1.1 in 2016 Q3. Its down 0.05, from 1.15 in 2016Q2. The ratio turned negative, as 72 funds sold all VZ shares owned while 646 reduced positions. 115 funds bought stakes while 677 increased positions. They now own 2.50 billion shares or 1.75% less from 2.54 billion shares in 2016Q2. The Texas-based Texas Permanent School Fund has invested 0.88% in Verizon Communications Inc. (NYSE:VZ). Dubuque Bancorporation & last reported 0.66% of its portfolio in the stock. Villere St Denis J And Limited has 0.29% invested in the company for 90,195 shares. Cornerstone Advisors Inc holds 0.74% of its portfolio in Verizon Communications Inc. (NYSE:VZ) for 16,941 shares. Security Comml Bank Of Sioux City Iowa Ia last reported 1.86% of its portfolio in the stock. Bedrijfstakpensioenfonds Voor De Media Pno, a Netherlands-based fund reported 21,800 shares. Factory Mutual Insurance has 1.38 million shares for 0.89% of their US portfolio. The North Carolina-based Franklin Street Nc has invested 1.07% in Verizon Communications Inc. (NYSE:VZ). Forte Capital Ltd Liability Corp Adv owns 19,086 shares or 0.38% of their US portfolio. Shinko Asset Mgmt Com Ltd accumulated 0.01% or 15,758 shares. Salient Capital Advisors Ltd Company holds 0.01% of its portfolio in Verizon Communications Inc. (NYSE:VZ) for 11,643 shares. Nwq Ltd holds 0.03% or 45,556 shares in its portfolio. The New York-based Tiaa Cref Mngmt Limited Liability has invested 0.69% in Verizon Communications Inc. (NYSE:VZ). The Texas-based 1St Advisors Incorporated has invested 0.37% in Verizon Communications Inc. (NYSE:VZ). Gyroscope Capital Mngmt, a Florida-based fund reported 4,537 shares.
Insider Transactions: Since July 27, 2016, the stock had 0 insider purchases, and 5 sales for $172,521 net activity. Shares for $32,095 were sold by SILLIMAN CRAIG L..
Analysts await Verizon Communications Inc. (NYSE:VZ) to report earnings on January, 24 before the open. They expect $0.90 earnings per share, up 1.12% or $0.01 from last year’s $0.89 per share. VZ’s profit will be $3.63B for 14.66 P/E if the $0.90 EPS becomes a reality. After $1.01 actual earnings per share reported by Verizon Communications Inc. for the previous quarter, Wall Street now forecasts -10.89% negative EPS growth.
More notable recent Verizon Communications Inc. (NYSE:VZ) news were published by: Investorplace.com which released: “Verizon Communications Inc. (VZ) May Unplug Heavy Unlimited Data Users” on January 10, 2017, also Fool.com with their article: “Better Buy: Altria Group Inc vs. Verizon Communications Inc.” published on January 03, 2017, Reuters.com published: “Yahoo to be named Altaba, Mayer to leave board after Verizon deal” on January 09, 2017. More interesting news about Verizon Communications Inc. (NYSE:VZ) were released by: Investorplace.com and their article: “Wednesday’s Vital Data: JPMorgan Chase & Co. (JPM), Verizon Communications Inc …” published on January 04, 2017 as well as Investorplace.com‘s news article titled: “Verizon Communications Inc. (VZ) Stock Is a Keeper” with publication date: December 12, 2016.
According to Zacks Investment Research, “Verizon Communications, formed by the merger of Bell Atlantic and GTE, is one of the world’s leading providers of high-growth communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States. Verizon is also the world’s largest provider of print and on-line directory information.”
Verizon Communications Inc. (NYSE:VZ) Ratings Coverage
Out of 17 analysts covering Verizon Communications Inc. (NYSE:VZ), 6 rate it a “Buy”, 0 “Sell”, while 11 “Hold”. This means 35% are positive. Verizon Communications Inc. has been the topic of 27 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock of Verizon Communications Inc. (NYSE:VZ) has “Buy” rating given on Wednesday, October 21 by Argus Research. The firm earned “Equal-Weight” rating on Monday, April 18 by Barclays Capital. On Tuesday, August 11 the stock rating was downgraded by Vetr to “Buy”. Nomura initiated it with “Neutral” rating and $47 target price in Friday, October 16 report. The stock of Verizon Communications Inc. (NYSE:VZ) earned “Neutral” rating by Macquarie Research on Tuesday, April 5. The rating was maintained by Citigroup with “Neutral” on Monday, March 14. The rating was downgraded by Zacks to “Hold” on Monday, September 7. As per Tuesday, August 11, the company rating was upgraded by MoffettNathanson. As per Wednesday, September 30, the company rating was maintained by RBC Capital Markets. The firm has “Sector Outperform” rating by Scotia Capital given on Wednesday, October 21.
VZ Company Profile
Verizon Communications Inc. (Verizon), incorporated on October 7, 1983, is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment services and products to consumers, businesses and governmental agencies. The Firm offers voice, data and video services and solutions on its wireless and wireline networks. The Company’s divisions include Wireless and Wireline. The Wireless segment offers communications services and products, including wireless voice and data services and equipment sales that are provided to consumer, business and government clients across the United States. The Wireline segment offers voice, data and video communications services and products, such as broadband video and data, corporate networking solutions, data center and cloud services, security and managed network services, and local and long distance voice services. The Firm provides these services and products to clients in the United States, as well as to carriers, businesses and government clients both in the United States and around the world.
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