As Bank Of America (BAC) Market Value Declined, Laurel Grove Capital Has Boosted Its Position; Verizon Communications (VZ) Valuation Declined While Pinnacle Advisory Group Has Lowered Holding

January 3, 2018 - By wolcottdaily

Laurel Grove Capital Llc increased its stake in Bank Of America Corp (BAC) by 94.05% based on its latest 2017Q3 regulatory filing with the SEC. Laurel Grove Capital Llc bought 19,750 shares as the company’s stock declined 6.00% while stock markets rallied. The institutional investor held 40,750 shares of the major banks company at the end of 2017Q3, valued at $1.03 million, up from 21,000 at the end of the previous reported quarter. Laurel Grove Capital Llc who had been investing in Bank Of America Corp for a number of months, seems to be bullish on the $310.57B market cap company. The stock decreased 0.42% or $0.125 during the last trading session, reaching $29.775. About 39.35 million shares traded. Bank of America Corporation (NYSE:BAC) has risen 58.64% since January 3, 2017 and is uptrending. It has outperformed by 41.94% the S&P500.

Pinnacle Advisory Group Inc decreased its stake in Verizon Communications Inc (VZ) by 27.77% based on its latest 2017Q3 regulatory filing with the SEC. Pinnacle Advisory Group Inc sold 6,828 shares as the company’s stock declined 7.66% while stock markets rallied. The institutional investor held 17,762 shares of the telecommunications equipment company at the end of 2017Q3, valued at $879,000, down from 24,590 at the end of the previous reported quarter. Pinnacle Advisory Group Inc who had been investing in Verizon Communications Inc for a number of months, seems to be less bullish one the $212.98B market cap company. The stock decreased 2.47% or $1.32 during the last trading session, reaching $52.21. About 10.82 million shares traded. Verizon Communications Inc. (NYSE:VZ) has declined 8.48% since January 3, 2017 and is downtrending. It has underperformed by 25.18% the S&P500.

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. Howe And Rusling stated it has 9,300 shares. Sequent Asset Limited Company stated it has 0.4% of its portfolio in Verizon Communications Inc. (NYSE:VZ). Missouri-based Argent Mngmt Ltd has invested 0.36% in Verizon Communications Inc. (NYSE:VZ). Burns J W & New York accumulated 87,274 shares or 1.15% of the stock. California-based Lourd Cap Ltd has invested 0.05% in Verizon Communications Inc. (NYSE:VZ). Wells Fargo And Co Mn accumulated 29.81 million shares. The Illinois-based Calamos Wealth Mgmt Ltd Liability Com has invested 0.19% in Verizon Communications Inc. (NYSE:VZ). The California-based Gamble Jones Inv Counsel has invested 0.85% in Verizon Communications Inc. (NYSE:VZ). Vision Cap invested in 95,940 shares. Moreover, Guardian Life Insurance Company Of America has 0.07% invested in Verizon Communications Inc. (NYSE:VZ). Stewart West Indies Trading accumulated 1.25% or 289,000 shares. Salem Capital Mgmt has 85,350 shares. 90,946 were reported by Adell Harriman Carpenter Incorporated. Franklin Street Nc stated it has 1.37% in Verizon Communications Inc. (NYSE:VZ). Hamilton Point Invest Advisors Ltd stated it has 0.93% of its portfolio in Verizon Communications Inc. (NYSE:VZ).

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. RBC Capital Markets maintained it with “Hold” rating and $48 target in Monday, April 24 report. The stock of Verizon Communications Inc. (NYSE:VZ) has “Hold” rating given on Thursday, October 19 by Cowen & Co. The rating was upgraded by Citigroup on Tuesday, January 3 to “Buy”. The stock of Verizon Communications Inc. (NYSE:VZ) has “Sector Weight” rating given on Tuesday, January 2 by KeyBanc Capital Markets. The rating was upgraded by Wells Fargo on Monday, November 20 to “Outperform”. The stock of Verizon Communications Inc. (NYSE:VZ) earned “Hold” rating by Cowen & Co on Monday, September 18. FBR Capital maintained Verizon Communications Inc. (NYSE:VZ) rating on Wednesday, October 21. FBR Capital has “Outperform” rating and $54 target. As per Thursday, August 10, the company rating was maintained by Oppenheimer. The stock of Verizon Communications Inc. (NYSE:VZ) earned “Buy” rating by Argus Research on Wednesday, October 21. Robert W. Baird maintained Verizon Communications Inc. (NYSE:VZ) on Wednesday, October 4 with “Hold” rating.

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

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 14.83 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.

Pinnacle Advisory Group Inc, which manages about $1.22 billion and $1.62 billion US Long portfolio, upped its stake in Arch Cap Group Ltd (NASDAQ:ACGL) by 8,581 shares to 232,016 shares, valued at $22.85M in 2017Q3, according to the filing. It also increased its holding in Vanguard World Fds (VHT) by 3,162 shares in the quarter, for a total of 428,207 shares, and has risen its stake in Select Sector Spdr Tr (XLI).

Investors sentiment decreased to 1.04 in 2017 Q3. Its down 0.08, from 1.12 in 2017Q2. It is negative, as 68 investors sold BAC shares while 569 reduced holdings. 117 funds opened positions while 547 raised stakes. 6.91 billion shares or 9.01% more from 6.34 billion shares in 2017Q2 were reported. Artemis Investment Mgmt Ltd Liability Partnership invested 2.72% in Bank of America Corporation (NYSE:BAC). Amp Cap Limited owns 4.76M shares for 0.68% of their portfolio. Shamrock Asset Limited Co accumulated 0% or 218 shares. Wg Shaheen Assocs Dba Whitney has 0.24% invested in Bank of America Corporation (NYSE:BAC) for 28,983 shares. Private Na stated it has 88,493 shares. Bkd Wealth Advsr Lc reported 49,476 shares or 0.14% of all its holdings. Castleark Mgmt Lc has 0.39% invested in Bank of America Corporation (NYSE:BAC) for 485,800 shares. Jaffetilchin Investment Partners Llc owns 34,510 shares for 0.21% of their portfolio. 41,794 are owned by Signaturefd Ltd Limited Liability Company. Regal Invest Advsrs Ltd Liability Corp accumulated 60,946 shares or 0.36% of the stock. Primecap Mngmt Ca invested 0.18% of its portfolio in Bank of America Corporation (NYSE:BAC). Skba Capital Mngmt Limited Co reported 21,930 shares stake. Tarbox Family Office reported 5,103 shares. Merriman Wealth Mngmt stated it has 21,659 shares. Miller Invest Mngmt Lp has 37,675 shares for 0.31% of their portfolio.

Since August 10, 2017, it had 0 insider buys, and 1 sale for $2.10 million activity.

Laurel Grove Capital Llc, which manages about $236.05 million and $192.21M US Long portfolio, decreased its stake in Priceline.Com (NASDAQ:PCLN) by 167 shares to 3,350 shares, valued at $6.13 million in 2017Q3, according to the filing. It also reduced its holding in Accenture Plc (NYSE:ACN) by 5,625 shares in the quarter, leaving it with 13,250 shares, and cut its stake in Lockheed Martin Corp (NYSE:LMT).