South State Trimmed Its Stake in Verizon Communications (VZ) as Market Value Declined; Arga Investment Management LP Upped Its Gilead Sciences (GILD) Position by $696,600 as Shares Declined

January 14, 2018 - By Darrin Black

Arga Investment Management Lp increased its stake in Gilead Sciences Inc (GILD) by 19.53% based on its latest 2017Q3 regulatory filing with the SEC. Arga Investment Management Lp bought 8,600 shares as the company’s stock declined 8.05% while stock markets rallied. The institutional investor held 52,629 shares of the health care company at the end of 2017Q3, valued at $4.26 million, up from 44,029 at the end of the previous reported quarter. Arga Investment Management Lp who had been investing in Gilead Sciences Inc for a number of months, seems to be bullish on the $103.22 billion market cap company. The stock decreased 0.05% or $0.04 during the last trading session, reaching $79.02. About 6.37 million shares traded. Gilead Sciences, Inc. (NASDAQ:GILD) has declined 21.80% since January 14, 2017 and is downtrending. It has underperformed by 38.50% the S&P500.

South State Corp decreased its stake in Verizon Communications (VZ) by 3.79% based on its latest 2017Q3 regulatory filing with the SEC. South State Corp sold 6,747 shares as the company’s stock declined 7.66% while stock markets rallied. The institutional investor held 171,088 shares of the telecommunications equipment company at the end of 2017Q3, valued at $8.47 million, down from 177,835 at the end of the previous reported quarter. South State Corp who had been investing in Verizon Communications for a number of months, seems to be less bullish one the $211.56 billion 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.

Since August 28, 2017, it had 0 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. Moreover, Victory Cap Mngmt has 0.03% invested in Verizon Communications Inc. (NYSE:VZ) for 261,655 shares. Fiera reported 8,222 shares or 0% of all its holdings. Regentatlantic Cap Ltd Company invested in 0.22% or 50,418 shares. Diversified Com accumulated 0.02% or 6,193 shares. Bollard Gp Ltd Limited Liability Company holds 1.2% of its portfolio in Verizon Communications Inc. (NYSE:VZ) for 458,218 shares. Global has invested 2.37% in Verizon Communications Inc. (NYSE:VZ). Country Tru State Bank stated it has 567,837 shares. S&T Bancorp Pa invested 0.68% in Verizon Communications Inc. (NYSE:VZ). Tiaa Cref Management Limited Liability holds 0.6% of its portfolio in Verizon Communications Inc. (NYSE:VZ) for 17.83M shares. Meristem Llp reported 0.13% of its portfolio in Verizon Communications Inc. (NYSE:VZ). Benchmark Capital Advsr has invested 0.26% in Verizon Communications Inc. (NYSE:VZ). 225,025 were accumulated by Richard C Young And Ltd. Breton Hill Ltd reported 235,030 shares. Gould Asset Management Ltd Ca reported 0.09% in Verizon Communications Inc. (NYSE:VZ). Boston Common Asset Mngmt Ltd Llc stated it has 243,054 shares.

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.

South State Corp, which manages about $892.42 million US Long portfolio, upped its stake in Danaher Corp (NYSE:DHR) by 9,587 shares to 115,584 shares, valued at $9.92M in 2017Q3, according to the filing. It also increased its holding in Spdr S&P 500 Etf Trust (SPY) by 1,631 shares in the quarter, for a total of 35,492 shares, and has risen its stake in Camden Property Trust (NYSE:CPT).

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. The firm earned “Mkt Perform” rating on Wednesday, January 25 by Raymond James. Scotia Capital maintained the stock with “Sector Outperform” rating in Wednesday, October 21 report. RBC Capital Markets maintained the shares of VZ in report on Monday, July 31 with “Sector Perform” rating. The firm has “Hold” rating given on Monday, September 7 by Zacks. On Wednesday, July 27 the stock rating was downgraded by Hilliard Lyons to “Neutral”. The firm has “Outperform” rating by Wells Fargo given on Monday, November 20. The stock of Verizon Communications Inc. (NYSE:VZ) has “Neutral” rating given on Tuesday, August 11 by MoffettNathanson. On Friday, May 26 the stock rating was maintained by RBC Capital Markets with “Hold”. The stock has “Buy” rating by Nomura on Tuesday, December 12. The rating was downgraded by Bernstein to “Market Perform” on Thursday, April 7.

Arga Investment Management Lp, which manages about $2.25B and $843.57M US Long portfolio, decreased its stake in Cigna Corp (NYSE:CI) by 7,751 shares to 19,049 shares, valued at $3.56 million in 2017Q3, according to the filing. It also reduced its holding in Danaher Corp (NYSE:DHR) by 19,200 shares in the quarter, leaving it with 29,500 shares, and cut its stake in Alibaba Group Holding (NYSE:BABA).

Since August 1, 2017, it had 0 insider buys, and 11 insider sales for $41.13 million activity. Shares for $4.40M were sold by Washington Robin L on Thursday, September 7. $2.08 million worth of Gilead Sciences, Inc. (NASDAQ:GILD) shares were sold by Alton Gregg H. $5.56M worth of Gilead Sciences, Inc. (NASDAQ:GILD) was sold by MARTIN JOHN C on Tuesday, August 1.

Investors sentiment increased to 1.03 in 2017 Q3. Its up 0.10, from 0.93 in 2017Q2. It is positive, as 96 investors sold GILD shares while 488 reduced holdings. 127 funds opened positions while 474 raised stakes. 957.62 million shares or 2.06% more from 938.32 million shares in 2017Q2 were reported. Dreman Value Mngmt L L C has 0.49% invested in Gilead Sciences, Inc. (NASDAQ:GILD) for 10,932 shares. Deutsche Bancorporation Ag stated it has 0.6% of its portfolio in Gilead Sciences, Inc. (NASDAQ:GILD). Sumitomo Mitsui Tru Inc accumulated 3.77M shares or 0.43% of the stock. 11,538 were accumulated by Private Asset Mgmt. Hightower Advsrs Limited Liability Co reported 0.33% in Gilead Sciences, Inc. (NASDAQ:GILD). Thompson Davis reported 475 shares. New Mexico Educational Retirement Board holds 121,476 shares or 0.47% of its portfolio. Ing Groep Nv has 474,691 shares. Ssi Investment stated it has 0.03% in Gilead Sciences, Inc. (NASDAQ:GILD). Signaturefd Ltd Liability owns 5,695 shares. Glenmede Tru Na reported 0.22% in Gilead Sciences, Inc. (NASDAQ:GILD). Mitsubishi Ufj Hldg Company invested 1.37% in Gilead Sciences, Inc. (NASDAQ:GILD). Piedmont Inv Advisors Ltd Liability stated it has 358,463 shares or 0.62% of all its holdings. Atria Ltd Liability Company invested in 0.08% or 17,090 shares. Neumann Cap Ltd Liability holds 2.88% of its portfolio in Gilead Sciences, Inc. (NASDAQ:GILD) for 57,474 shares.

Among 30 analysts covering Gilead Sciences (NASDAQ:GILD), 18 have Buy rating, 0 Sell and 12 Hold. Therefore 60% are positive. Gilead Sciences had 111 analyst reports since July 29, 2015 according to SRatingsIntel. The firm has “Neutral” rating by Credit Suisse given on Wednesday, December 20. The company was downgraded on Friday, October 2 by Morgan Stanley. Morgan Stanley maintained the stock with “Equal-Weight” rating in Friday, October 6 report. The rating was upgraded by Piper Jaffray to “Overweight” on Thursday, November 5. On Friday, July 21 the stock rating was maintained by BMO Capital Markets with “Hold”. Argus Research downgraded Gilead Sciences, Inc. (NASDAQ:GILD) on Monday, November 13 to “Hold” rating. The stock has “Hold” rating by Maxim Group on Tuesday, May 30. On Wednesday, February 3 the stock rating was initiated by Standpoint Research with “Buy”. Cowen & Co maintained the stock with “Buy” rating in Tuesday, July 25 report. Jefferies maintained it with “Hold” rating and $91 target in Wednesday, August 31 report.

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