Eastern Bank Cuts Stock Position in Verizon Communications Inc. $VZ

Eastern Bank cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 68.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 70,246 shares of the cell phone carrier’s stock after selling 151,090 shares during the quarter. Eastern Bank’s holdings in Verizon Communications were worth $2,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. USS Investment Management Ltd raised its stake in Verizon Communications by 4.6% in the 1st quarter. USS Investment Management Ltd now owns 713,156 shares of the cell phone carrier’s stock valued at $35,790,000 after acquiring an additional 31,354 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Verizon Communications by 41.0% in the fourth quarter. Teacher Retirement System of Texas now owns 2,197,366 shares of the cell phone carrier’s stock worth $89,499,000 after purchasing an additional 639,380 shares in the last quarter. Clarity Financial LLC raised its position in shares of Verizon Communications by 697.0% in the fourth quarter. Clarity Financial LLC now owns 471,127 shares of the cell phone carrier’s stock valued at $19,189,000 after purchasing an additional 412,018 shares during the period. Cibc World Market Inc. raised its position in shares of Verizon Communications by 15.3% in the fourth quarter. Cibc World Market Inc. now owns 2,382,975 shares of the cell phone carrier’s stock valued at $97,059,000 after purchasing an additional 316,854 shares during the period. Finally, Keudell Morrison Wealth Management purchased a new stake in shares of Verizon Communications during the 4th quarter valued at approximately $2,171,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Key Verizon Communications News

Here are the key news stories impacting Verizon Communications this week:

• Positive Sentiment: Verizon waived calling, texting and data charges through August 31 for consumer and small-business customers affected by Washington wildfires, including prepaid users. The company also deployed a Community Disaster Resilience Connectivity Van, supporting customer goodwill and demonstrating network resilience. Verizon Helps Families Stay Connected During Washington Wildfires
• Neutral Sentiment: An analysis of T-Mobile’s abandoned $300 billion transaction with Deutsche Telekom said keeping T-Mobile independent preserves its U.S. cash flow for 5G, broadband and satellite investments. The development is indirectly relevant to Verizon because it leaves a well-funded competitor focused on expanding its domestic network and customer base. Dodging Deutsche Telekom: T-Mobile’s Strategic Win
• Neutral Sentiment: Recent commentary remains bullish on Verizon’s longer-term prospects, citing adjusted EBITDA growth, margin expansion and a potential Google dark-fiber agreement that could strengthen its optical-network and AI-infrastructure businesses. These are strategic positives, but they are not a new catalyst for the current session. Verizon’s Structural Re-Rating Has Just Begun
• Negative Sentiment: Wireless stocks, including Verizon, turned lower after SpaceX announced plans to launch a mobile offering in 2027 using Starlink’s satellite broadband network. The prospect of nationwide satellite connectivity could take customers from traditional carriers, increase pricing pressure and raise concerns about Verizon’s long-term subscriber growth. Wireless Stocks Turn Lower on SpaceX Mobile Plans

Verizon Communications Stock Performance

NYSE:VZ opened at $46.85 on Wednesday. The stock has a market cap of $194.67 billion, a P/E ratio of 12.20, a PEG ratio of 1.32 and a beta of 0.25. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36. The business’s 50-day moving average price is $45.27 and its two-hundred day moving average price is $46.60. Verizon Communications Inc. has a twelve month low of $38.39 and a twelve month high of $51.68.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.03. The company had revenue of $34.25 billion for the quarter, compared to analysts’ expectations of $35.16 billion. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. Verizon Communications’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, equities analysts predict that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were paid a $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Friday, July 10th. Verizon Communications’s payout ratio is currently 73.70%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Scotiabank raised their price objective on shares of Verizon Communications from $51.50 to $52.50 and gave the stock a “sector outperform” rating in a report on Monday, July 27th. TD Cowen increased their target price on Verizon Communications from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Dbs Bank lowered Verizon Communications from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Freedom Capital raised Verizon Communications to a “hold” rating in a report on Friday, June 12th. Finally, Moffett Nathanson reduced their price target on Verizon Communications from $56.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, July 20th. Nine equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $50.84.

About Verizon Communications

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.