Tuttle Tactical Management Has Cut Its Stake in 3M Company (MMM) as Shares Rose; Pinnacle Financial Partners Maintains Holding in Verizon Communications (VZ)

February 15, 2018 - By Stephen Andrade

Pinnacle Financial Partners Inc increased its stake in Verizon Communications Inc (VZ) by 11.75% based on its latest 2017Q3 regulatory filing with the SEC. Pinnacle Financial Partners Inc bought 15,011 shares as the company’s stock declined 7.66% while stock markets rallied. The institutional investor held 142,729 shares of the telecommunications equipment company at the end of 2017Q3, valued at $7.06 million, up from 127,718 at the end of the previous reported quarter. Pinnacle Financial Partners Inc who had been investing in Verizon Communications Inc for a number of months, seems to be bullish on the $200.92B market cap company. The stock decreased 0.51% or $0.252 during the last trading session, reaching $49.258. About 9.68 million shares traded. Verizon Communications Inc. (NYSE:VZ) has declined 8.48% since February 15, 2017 and is downtrending. It has underperformed by 25.18% the S&P500.

Tuttle Tactical Management Llc decreased its stake in 3M Company (MMM) by 56.33% based on its latest 2017Q3 regulatory filing with the SEC. Tuttle Tactical Management Llc sold 3,342 shares as the company’s stock rose 7.02% with the market. The institutional investor held 2,591 shares of the medical and dental instruments company at the end of 2017Q3, valued at $544,000, down from 5,933 at the end of the previous reported quarter. Tuttle Tactical Management Llc who had been investing in 3M Company for a number of months, seems to be less bullish one the $138.56 billion market cap company. The stock increased 0.88% or $2.03 during the last trading session, reaching $232.67. About 1.11 million shares traded. 3M Company (NYSE:MMM) has risen 18.59% since February 15, 2017 and is uptrending. It has outperformed by 1.89% the S&P500.

Pinnacle Financial Partners Inc, which manages about $779.38 million US Long portfolio, decreased its stake in Vanguard Intl Equity Index F (VWO) by 8,904 shares to 119,788 shares, valued at $5.22M in 2017Q3, according to the filing. It also reduced its holding in Alphabet Inc by 674 shares in the quarter, leaving it with 2,041 shares, and cut its stake in Amazon Com Inc (NASDAQ:AMZN).

Among 28 analysts covering Verizon Communications Inc. (NYSE:VZ), 7 have Buy rating, 0 Sell and 21 Hold. Therefore 25% are positive. Verizon Communications Inc. had 74 analyst reports since July 22, 2015 according to SRatingsIntel. The firm earned “Neutral” rating on Tuesday, August 11 by MoffettNathanson. The company was maintained on Wednesday, January 24 by Robert W. Baird. As per Wednesday, October 4, the company rating was maintained by Robert W. Baird. On Friday, April 21 the stock rating was downgraded by Argus Research to “Hold”. The rating was maintained by RBC Capital Markets with “Hold” on Friday, July 7. The company was maintained on Wednesday, January 24 by RBC Capital Markets. Jefferies maintained it with “Hold” rating and $58.0 target in Wednesday, January 24 report. DA Davidson initiated the shares of VZ in report on Thursday, February 4 with “Neutral” rating. On Wednesday, July 27 the stock rating was downgraded by Hilliard Lyons to “Neutral”. As per Thursday, April 13, the company rating was maintained by Barclays Capital.

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

Investors sentiment is 0.88 in Q3 2017. Its the same as in 2017Q2. It is without change, 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, Ironwood Ltd Limited Liability Company has 0.01% invested in Verizon Communications Inc. (NYSE:VZ) for 254 shares. Wespac Advsr Ltd Com holds 6,704 shares or 0.22% of its portfolio. Grassi Mgmt has 113,837 shares for 0.95% of their portfolio. Bradley Foster And Sargent Inc Ct accumulated 140,020 shares. The New York-based Griffin Asset Incorporated has invested 1.05% in Verizon Communications Inc. (NYSE:VZ). Edge Wealth has 261,374 shares for 3.91% of their portfolio. Cypress Management Ltd Com has 256,150 shares for 2.69% of their portfolio. Sit Investment Inc owns 1.25M shares. Cornerstone Capital Management Ltd Llc reported 0.42% of its portfolio in Verizon Communications Inc. (NYSE:VZ). Cullinan holds 0.58% or 153,055 shares. Essex Ser owns 0.74% invested in Verizon Communications Inc. (NYSE:VZ) for 60,577 shares. Moreover, Huntington Commercial Bank has 0.6% invested in Verizon Communications Inc. (NYSE:VZ). Leavell Investment Mngmt Inc stated it has 0.45% in Verizon Communications Inc. (NYSE:VZ). Stewart & Patten Ltd Liability Com accumulated 7,479 shares. Hartline Invest has invested 0.15% in Verizon Communications Inc. (NYSE:VZ).

Since August 17, 2017, it had 0 insider buys, and 20 sales for $33.77 million activity. Another trade for 13,480 shares valued at $3.33M was made by Keel Paul A on Thursday, February 1. 2,719 3M Company (NYSE:MMM) shares with value of $560,200 were sold by Little Frank R Jr.. 4,004 3M Company (NYSE:MMM) shares with value of $936,291 were sold by Gangestad Nicholas C. 2,348 shares were sold by Fong Ivan K, worth $547,377. Lindekugel Jon T sold $92,023 worth of 3M Company (NYSE:MMM) on Tuesday, October 31. Vrohidis Ippocratis sold $56,178 worth of stock or 225 shares.

Investors sentiment decreased to 0.77 in 2017 Q3. Its down 0.14, from 0.91 in 2017Q2. It dived, as 59 investors sold MMM shares while 612 reduced holdings. 101 funds opened positions while 417 raised stakes. 387.06 million shares or 0.01% more from 387.02 million shares in 2017Q2 were reported. Braun Stacey Assocs holds 0.18% in 3M Company (NYSE:MMM) or 12,600 shares. 971,735 were accumulated by Bahl And Gaynor Inc. Richard Bernstein Ltd Liability Corporation reported 0.63% of its portfolio in 3M Company (NYSE:MMM). Poplar Forest Lc reported 0.25% stake. Aspiriant Ltd Liability Corp accumulated 14,805 shares or 0.26% of the stock. Fundsmith Ltd Liability Partnership owns 2.62 million shares. Sentinel Asset Mngmt accumulated 0.56% or 111,725 shares. First Bankshares Of Omaha owns 107,591 shares or 1.38% of their US portfolio. Puzo Michael J accumulated 4.1% or 37,563 shares. Cls Limited Liability accumulated 0.01% or 1,688 shares. Telos Mgmt owns 2,329 shares for 0.19% of their portfolio. Wetherby Asset Mngmt reported 14,401 shares or 0.45% of all its holdings. Whittier Trust Co Of Nevada reported 1.42% in 3M Company (NYSE:MMM). Moreover, Ironwood Inv Counsel Limited Liability Company has 1.31% invested in 3M Company (NYSE:MMM). Lombard Odier Asset Management (Switzerland) Sa reported 2,911 shares.

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