Envestnet Asset Management INC Lowered Its Verizon Communications INC (VZ) Holding as Share Value Declined

January 20, 2018 - By Stephen Andrade

Investors sentiment is 0.88 in Q3 2017. Its the same as in 2017Q2. It is the same, as 81 investors sold VZ shares while 696 reduced holdings. only 114 funds opened positions while 570 raised stakes. 2.53 billion shares or 1.44% more from 2.49 billion shares in 2017Q2 were reported. Jacobs And Ca reported 151,325 shares. First Allied Advisory Service accumulated 0.59% or 274,293 shares. Victory Capital Management Incorporated holds 261,655 shares or 0.03% of its portfolio. Cullinan Associates Inc stated it has 153,055 shares. Farmers Trust Co stated it has 52,301 shares. Northeast Management stated it has 38,391 shares. Terril Brothers stated it has 0.53% of its portfolio in Verizon Communications Inc. (NYSE:VZ). Bainco owns 108,576 shares. Charter Trust owns 116,910 shares. Cincinnati Specialty Underwriters Ins owns 30,000 shares for 1.3% of their portfolio. Rodgers Brothers reported 123,704 shares. Ing Groep Nv holds 0.49% or 518,775 shares in its portfolio. Texas Permanent School Fund invested in 0.72% or 1.13 million shares. Wagner Bowman Management Corp holds 0.48% or 34,773 shares in its portfolio. Thrivent Fincl For Lutherans has invested 0.39% of its portfolio in Verizon Communications Inc. (NYSE:VZ).

Since August 28, 2017, it had 0 insider buys, and 3 insider sales for $89,365 activity.

Envestnet Asset Management Inc decreased its stake in Verizon Communications Inc (VZ) by 8.87% based on its latest 2017Q3 regulatory filing with the SEC. Envestnet Asset Management Inc sold 91,894 shares as the company’s stock declined 7.66% while stock markets rallied. The institutional investor held 943,564 shares of the telecommunications equipment company at the end of 2017Q3, valued at $46.70M, down from 1.04 million at the end of the previous reported quarter. Envestnet Asset Management Inc who had been investing in Verizon Communications Inc for a number of months, seems to be less bullish one the $211.76B market cap company. The stock increased 0.70% or $0.36 during the last trading session, reaching $51.91. About 23.76 million shares traded or 41.49% up from the average. Verizon Communications Inc. (NYSE:VZ) has declined 8.48% since January 20, 2017 and is downtrending. It has underperformed by 25.18% the S&P500.

Envestnet Asset Management Inc, which manages about $60.39 billion and $41.79B US Long portfolio, upped its stake in Autozone Inc (NYSE:AZO) by 8,613 shares to 26,012 shares, valued at $15.48 million in 2017Q3, according to the filing. It also increased its holding in Select Sector Spdr Tr (XLF) by 335,938 shares in the quarter, for a total of 4.10 million shares, and has risen its stake in Spdr Ser Tr.

Analysts await Verizon Communications Inc. (NYSE:VZ) to report earnings on January, 23. They expect $0.88 EPS, up 2.33 % or $0.02 from last year’s $0.86 per share. VZ’s profit will be $3.59 billion for 14.75 P/E if the $0.88 EPS becomes a reality. After $0.98 actual EPS reported by Verizon Communications Inc. for the previous quarter, Wall Street now forecasts -10.20 % negative EPS growth.

More notable recent Verizon Communications Inc. (NYSE:VZ) news were published by: Bloomberg.com which released: “Mobile-Phone Users Will Be Able to Stream Eight NBA Games for Free, Thanks to …” on January 17, 2018, also Fool.com with their article: “Better Buy: Verizon Communications Inc. vs. Frontier Communications” published on January 02, 2018, Nasdaq.com published: “Will Verizon (VZ) Gain Postpaid Wireless Subscribers in Q4?” on January 18, 2018. More interesting news about Verizon Communications Inc. (NYSE:VZ) were released by: Nasdaq.com and their article: “Verizon Communications Inc. (VZ) Ex-Dividend Date Scheduled for January 09, 2018” published on January 08, 2018 as well as Nasdaq.com‘s news article titled: “Verizon Communications (VZ) Q4 Earnings: What’s in Store?” with publication date: January 17, 2018.

Verizon Communications Inc. (NYSE:VZ) Ratings Coverage

Among 26 analysts covering Verizon Communications Inc. (NYSE:VZ), 6 have Buy rating, 0 Sell and 20 Hold. Therefore 23% are positive. Verizon Communications Inc. has $61.0 highest and $44 lowest target. $52.09’s average target is 0.35% above currents $51.91 stock price. Verizon Communications Inc. had 64 analyst reports since July 22, 2015 according to SRatingsIntel. Cowen & Co maintained Verizon Communications Inc. (NYSE:VZ) rating on Tuesday, July 18. Cowen & Co has “Hold” rating and $4900 target. MoffettNathanson upgraded the stock to “Neutral” rating in Tuesday, August 11 report. As per Monday, April 24, the company rating was maintained by RBC Capital Markets. The company was maintained on Friday, July 7 by RBC Capital Markets. Cowen & Co maintained the stock with “Hold” rating in Monday, September 18 report. KeyBanc Capital Markets maintained Verizon Communications Inc. (NYSE:VZ) on Wednesday, October 11 with “Hold” rating. Oppenheimer downgraded the shares of VZ in report on Wednesday, July 20 to “Perform” rating. RBC Capital Markets maintained Verizon Communications Inc. (NYSE:VZ) rating on Monday, July 31. RBC Capital Markets has “Sector Perform” rating and $50 target. The rating was maintained by Barclays Capital with “Equal Weight” on Thursday, April 13. The stock of Verizon Communications Inc. (NYSE:VZ) has “Buy” rating given on Tuesday, February 21 by Moffett Nathanson.

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