---
title: "Eastern Bank Has $2.97 Million Position in Verizon Communications Inc. $VZ"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/294928449.md"
description: "Eastern Bank reduced its Verizon Communications (VZ) holdings by 68.3% in Q2, selling 151,090 shares to retain 70,246 shares valued at $2.97 million. This move is part of broader institutional activity involving other funds adjusting their stakes in the telecom giant."
datetime: "2026-08-05T07:52:51.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/294928449.md)
  - [en](https://longbridge.com/en/news/294928449.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/294928449.md)
---

# Eastern Bank Has $2.97 Million Position in Verizon Communications Inc. $VZ

Eastern Bank cut its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 68.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,246 shares of the cell phone carrier's stock after selling 151,090 shares during the period. Eastern Bank's holdings in Verizon Communications were worth $2,974,000 as of its most recent filing with the Securities and Exchange Commission.

Get **Verizon Communications** alerts:

-   Dodging Deutsche Telekom: T-Mobile's Strategic Win

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strengthening Families & Communities LLC lifted its stake in Verizon Communications by 490.0% in the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier's stock valued at $26,000 after buying an additional 539 shares during the period. Robinswood Financial LLC bought a new position in shares of Verizon Communications during the 1st quarter worth approximately $27,000. Lam Group Inc. acquired a new stake in shares of Verizon Communications during the 1st quarter worth approximately $28,000. EQ Wealth Advisors LLC acquired a new stake in shares of Verizon Communications during the 4th quarter worth approximately $29,000. Finally, Sarver Vrooman Wealth Advisors increased its stake in shares of Verizon Communications by 173.0% in the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier's stock valued at $29,000 after acquiring an additional 448 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

## Verizon Communications Stock Down 1.1%

Shares of NYSE VZ opened at $46.85 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.60 and a quick ratio of 0.57. The company has a 50-day moving average price of $45.27 and a 200-day moving average price of $46.60. The stock has a market capitalization of $194.67 billion, a P/E ratio of 12.20, a P/E/G ratio of 1.32 and a beta of 0.25. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68.

-   Verizon May Be an AI Infrastructure Stock Hiding in Plain Sight

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.03. The firm had revenue of $34.25 billion during the quarter, compared to analyst estimates of $35.16 billion. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The company's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, equities research analysts forecast that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.

## Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were issued a dividend of $0.7075 per share. 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%.

## Verizon Communications News Summary

-   Telecom Earnings Reveal a Sector That Finally Looks Healthier

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

## Wall Street Analyst Weigh In

A number of research analysts recently issued reports on VZ shares. Barclays boosted their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the company an "equal weight" rating in a research report on Monday, July 27th. Wells Fargo & Company lifted their price target on shares of Verizon Communications from $43.00 to $47.00 and gave the company an "equal weight" rating in a research note on Monday, July 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of Verizon Communications in a report on Friday, May 29th. Freedom Capital raised shares of Verizon Communications to a "hold" rating in a research report on Friday, June 12th. Finally, BNP Paribas Exane reduced their target price on Verizon Communications from $46.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday, July 14th. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, Verizon Communications has an average rating of "Hold" and an average target price of $50.84.

**Get Our Latest Stock Analysis on VZ**

## Verizon Communications Company Profile

(Free Report)

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.

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_This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com._

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