Smithfield Trust Company Lowered Its Position in Verizon Communications (VZ) as Market Valuation Declined; Concourse Capital Management Stake In Yandex N V (YNDX) Was Increased

January 14, 2018 - By Vivian Park

Concourse Capital Management Llc increased its stake in Yandex N V (YNDX) by 12.13% based on its latest 2017Q3 regulatory filing with the SEC. Concourse Capital Management Llc bought 22,565 shares as the company’s stock rose 15.61% with the market. The hedge fund held 208,515 shares of the programming company at the end of 2017Q3, valued at $6.87 million, up from 185,950 at the end of the previous reported quarter. Concourse Capital Management Llc who had been investing in Yandex N V for a number of months, seems to be bullish on the $11.27 billion market cap company. The stock increased 0.06% or $0.02 during the last trading session, reaching $34.6. About 1.15M shares traded. Yandex N.V. (NASDAQ:YNDX) has risen 50.13% since January 14, 2017 and is uptrending. It has outperformed by 33.43% the S&P500.

Smithfield Trust Company decreased its stake in Verizon Communications (VZ) by 23.51% based on its latest 2017Q3 regulatory filing with the SEC. Smithfield Trust Company sold 9,845 shares as the company’s stock declined 7.66% while stock markets rallied. The institutional investor held 32,025 shares of the telecommunications equipment company at the end of 2017Q3, valued at $1.59 million, down from 41,870 at the end of the previous reported quarter. Smithfield Trust Company who had been investing in Verizon Communications for a number of months, seems to be less bullish one the $211.56B market cap company. The stock decreased 0.48% or $0.25 during the last trading session, reaching $51.86. About 17.67 million shares traded or 5.69% up from the average. Verizon Communications Inc. (NYSE:VZ) has declined 8.48% since January 14, 2017 and is downtrending. It has underperformed by 25.18% the S&P500.

Among 26 analysts covering Verizon Communications Inc. (NYSE:VZ), 7 have Buy rating, 0 Sell and 19 Hold. Therefore 27% are positive. Verizon Communications Inc. had 63 analyst reports since July 22, 2015 according to SRatingsIntel. As per Wednesday, January 25, the company rating was downgraded by RBC Capital Markets. The rating was downgraded by Bernstein to “Market Perform” on Thursday, April 7. Nomura initiated Verizon Communications Inc. (NYSE:VZ) rating on Friday, October 16. Nomura has “Neutral” rating and $47 target. The firm has “Hold” rating by Robert W. Baird given on Wednesday, October 4. Oppenheimer maintained the shares of VZ in report on Thursday, August 10 with “Hold” rating. Argus Research downgraded Verizon Communications Inc. (NYSE:VZ) on Friday, April 21 to “Hold” rating. KeyBanc Capital Markets maintained the shares of VZ in report on Tuesday, January 2 with “Sector Weight” rating. Raymond James downgraded the shares of VZ in report on Wednesday, January 25 to “Mkt Perform” rating. As per Wednesday, September 30, the company rating was maintained by RBC Capital Markets. The stock of Verizon Communications Inc. (NYSE:VZ) has “Hold” rating given on Friday, July 7 by RBC Capital Markets.

Smithfield Trust Company, which manages about $737.64 million US Long portfolio, upped its stake in Vanguard Index Fds Small Cp Etf (VB) by 12,111 shares to 144,781 shares, valued at $20.46M in 2017Q3, according to the filing. It also increased its holding in Ishares Russell 1000 Value Fund (IWD) by 2,995 shares in the quarter, for a total of 8,340 shares, and has risen its stake in Vanguard Mun Bd Fd Inc Tax Exempt Bd.

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

Investors sentiment is 0.88 in Q3 2017. Its the same as in 2017Q2. It is flat, 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. Affinity Invest Lc holds 0.76% of its portfolio in Verizon Communications Inc. (NYSE:VZ) for 132,460 shares. Chemical Natl Bank accumulated 138,100 shares. Bokf Na reported 0.61% of its portfolio in Verizon Communications Inc. (NYSE:VZ). Sol Capital holds 0.21% or 14,954 shares in its portfolio. 720,387 are owned by Miller Howard Invs Ny. Holderness Invests holds 2.15% or 83,606 shares in its portfolio. Patten And Patten Tn reported 0.48% of its portfolio in Verizon Communications Inc. (NYSE:VZ). Adell Harriman Carpenter Incorporated owns 0.98% invested in Verizon Communications Inc. (NYSE:VZ) for 90,946 shares. 20,270 are held by Cap Management. Patten Grp has invested 0.26% in Verizon Communications Inc. (NYSE:VZ). Wilbanks Smith & Thomas Asset Mngmt Limited Co has invested 0.45% in Verizon Communications Inc. (NYSE:VZ). Kingfisher Cap Ltd Co reported 36,399 shares stake. Kings Point Capital Mgmt has invested 0.1% of its portfolio in Verizon Communications Inc. (NYSE:VZ). Quantitative Systematic Strategies Ltd Limited Liability Company invested 0.19% in Verizon Communications Inc. (NYSE:VZ). Blume Capital Management owns 3,957 shares for 0.1% of their portfolio.

Analysts await Verizon Communications Inc. (NYSE:VZ) to report earnings on January, 23. They expect $0.88 earnings per share, up 2.33% or $0.02 from last year’s $0.86 per share. VZ’s profit will be $3.59 billion for 14.73 P/E if the $0.88 EPS becomes a reality. After $0.98 actual earnings per share reported by Verizon Communications Inc. for the previous quarter, Wall Street now forecasts -10.20% negative EPS growth.

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