Peapack Gladstone Financial Corp Sells 61,975 Shares of Verizon Communications Inc. $VZ

Peapack Gladstone Financial Corp lowered its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 12.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 453,300 shares of the cell phone carrier’s stock after selling 61,975 shares during the period. Peapack Gladstone Financial Corp’s holdings in Verizon Communications were worth $18,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of VZ. Norges Bank bought a new stake in shares of Verizon Communications during the fourth quarter valued at approximately $2,357,158,000. State Street Corp raised its position in shares of Verizon Communications by 3.5% during the third quarter. State Street Corp now owns 215,490,064 shares of the cell phone carrier’s stock valued at $9,470,788,000 after buying an additional 7,276,809 shares during the last quarter. Vanguard Group Inc. increased its position in Verizon Communications by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier’s stock worth $15,453,058,000 after purchasing an additional 5,497,598 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Verizon Communications in the fourth quarter worth $217,125,000. Finally, Capital World Investors increased its position in Verizon Communications by 51.1% in the third quarter. Capital World Investors now owns 14,512,228 shares of the cell phone carrier’s stock worth $637,812,000 after purchasing an additional 4,905,101 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on VZ shares. Citigroup boosted their price target on shares of Verizon Communications from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Barclays boosted their price target on shares of Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 31st. Williams Trading set a $54.00 price target on shares of Verizon Communications in a research report on Monday, February 2nd. Erste Group Bank restated a “hold” rating on shares of Verizon Communications in a research report on Tuesday, May 5th. Finally, Weiss Ratings upgraded shares of Verizon Communications from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.59.

Verizon Communications Stock Up 0.1%

NYSE VZ opened at $47.84 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.38. The company has a fifty day moving average of $47.93 and a two-hundred day moving average of $45.11. The firm has a market capitalization of $199.78 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.14 and a beta of 0.24. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.68.

Verizon Communications (NYSE:VZ) last issued its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. The firm had revenue of $34.44 billion during the quarter, compared to analyst estimates of $34.82 billion. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, analysts predict that Verizon Communications Inc. will post 4.96 earnings per share for the current year.

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.