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Published: Sun, October 22, 2017
Research | By Jennifer Evans

975 hedge funds sold their entire positions in Verizon Communications Inc. (VZ)

975 hedge funds sold their entire positions in Verizon Communications Inc. (VZ)

In a transaction dated Jul. 28, 2017, the shares were put up for sale at an average price of $47.74, raking in a sum of $29,121.

Verizon Communications Inc. gained wireless subscribers in the latest quarter, as the telecommunications company worked to shore up its largest unit in light of its weakening television business.

Shares of Verizon Communications (VZ) traded up 0.65% during mid-day trading on Wednesday, hitting $49.53. Bank of Montreal Can now owns 7,455,407 shares of the cell phone carrier's stock valued at $332,958,000 after buying an additional 619,401 shares during the period. (NYSE:VZ). Moreover, Stillwater Mngmt Ltd Com has 1.08% invested in Verizon Communications Inc. It has underperformed by 25.18% the S&P500. Finally, Cowen and Company reissued a "hold" rating and issued a $52.00 target price on shares of Verizon Communications in a report on Tuesday, September 19th.

Ao Asset Management Llc decreased T Mobile Us Inc (NYSE:TMUS) stake by 66,700 shares to 287,400 valued at $17.42M in 2017Q2. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier's stock valued at $6,851,202,000 after purchasing an additional 20,070,391 shares in the last quarter. Look at its top three institutional owners. Piermont Capital Management Inc., a Missouri-based fund reported 5,050 shares. About shares traded. Lancaster Colony Corp. FreeSeas Inc (OTCMKTS:FREEF) has 0.00% since October 21, 2016 and is. It has underperformed by 14.40% the S&P500.

Analysts await BGC Partners, Inc. (NASDAQ:LANC) to report earnings on October, 26. They expect $0.06 EPS, down 33.33% or $0.03 from last year's $0.09 per share. BGCP's profit will be $68.72M for 16.55 P/E if the $0.24 EPS becomes a reality. After $1.04 actual earnings per share reported by Lancaster Colony Corp. for the previous quarter, Wall Street now forecasts 4.81% EPS growth. On average, equities research analysts predict that Verizon Communications Inc. will post $3.76 earnings per share for the current year. Zacks Investment Research upgraded shares of Verizon Communications from a "sell" rating to a "hold" rating in a research report on Friday, July 7th. Therefore 76% are positive. City Holdings Communications reported 1.14% of its portfolio in Verizon Communications Inc. TheStreet raised shares of Verizon Communications from a c+ rating to a b- rating in a research note on Tuesday, August 8th.

Several analysts recently commented on VZ shares. Finally, Park National Corp OH grew its stake in shares of Verizon Communications by 4.6% in the third quarter. The firm earned "Neutral" rating on Wednesday, July 27 by Hilliard Lyons. As per Wednesday, October 11, the company rating was maintained by KeyBanc Capital Markets. Pacific Crest maintained 3D Systems Corporation (NYSE:DDD) on Monday, August 10 with "Equal Weight" rating. The rating was maintained by Robert W. Baird on Wednesday, October 4 with "Hold". The stock of Fortinet Inc (NASDAQ:FTNT) has "Buy" rating given on Wednesday, April 27 by Wunderlich. (NYSE:VZ) on Monday, January 23 to "Market Perform" rating. (NYSE:VZ) by some 122,719,689 shares, 975 decreased positions by 129,658,094 and 156 held positions by 2,330,071,293. On Monday, October 24 the stock rating was upgraded by Drexel Hamilton to "Buy".

Investors sentiment decreased to 0.88 in 2017 Q2. Its up 0.12, from 1.29 in 2017Q1. 577,283 are owned by Kempen Capital Nv. Lawson Kroeker Invest Management Inc Ne has invested 1.92% in Verizon Communications Inc. (NYSE:VZ) or 180,977 shares. Atlas Browninc accumulated 0.39% or 10,023 shares. Ftb, Tennessee-based fund reported 123,177 shares. (NYSE:VZ). Cutler Investment Counsel Ltd Co holds 1.72% or 154,181 shares. Fulton Bank N.A. now owns 132,672 shares of the cell phone carrier's stock valued at $6,566,000 after buying an additional 2,655 shares in the last quarter. The New England Investment & Retirement Group Inc holds 8,384 shares with $374,000 value, down from 28,902 last quarter. State Of New Jersey Common Pension Fund D invested 0.75% in Verizon Communications Inc. (NYSE:VZ). 9,264 were accumulated by Garrison Fin Corporation. Macquarie Group Ltd. grew its position in Verizon Communications by 2.1% during the first quarter. Oliver Luxxe Assets LLC boosted its stake in shares of Verizon Communications by 0.3% in the second quarter. (NYSE:VZ). Loeb Prns Corp has invested 0.1% in Verizon Communications Inc.

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