Carnegie Investment Counsel 13F: Cuts VZ Stake by $1.6M

Carnegie Investment Counsel trimmed its stake in Verizon Communications Inc. (NYSE:VZ) during the quarter, according to a Form 13F filing with the U.S. Securities and Exchange Commission on October 20, 2026. The firm sold 36,765 shares, reducing its total holdings by 4.5% to 782,621 shares. The remaining position carried an estimated value of $33.9 million as of the filing date.

VZ Verizon Communications Inc.

$44.54 ▲ +17.24% year to date

1M 3M YTD

Daily close · Oct 20, 2026

What Changed in Carnegie Investment Counsel's Verizon Position

The fund held 819,386 shares of the telecom provider prior to the adjustment. Following the reduction of 36,765 shares, Carnegie Investment Counsel's stake dropped to 782,621 shares valued at $33,949,026. Verizon closed at $44.54 on the October 20 filing date.

Other Institutional Activity in Verizon

Other institutional investors also shifted their holdings in Verizon. Y-Intercept added to its portfolio with 362,110 shares valued at about $16.6 million. Euro Pacific Asset Management picked up 5,200 shares worth roughly $261,638. Summit Financial Strategies closed out its position entirely by selling 4,932 shares.

Verizon Communications Inc. Stock Up 0.3%

Verizon shares recently traded around $44.67, up about 0.3% from their $44.54 close on the filing date. The stock sits below its 50-day moving average of $47.65 and its 200-day moving average of $46.68. Over the past 52 weeks, the shares have traded between a low of $38.39 and a high of $51.68.

Recent Earnings

Verizon generated trailing-twelve-month revenue of $138.9 billion with a net profit margin of 11.6%. The company posted trailing earnings of $3.84 per share and a return on equity of 15.8%. Management scheduled the next earnings report for October 26, 2026.

Dividend

The telecom company pays an annual dividend of $2.83 per share, yielding 6.5% with a payout ratio of 72.8%.

Insider Buying and Selling at Verizon Communications Inc.

Insiders executed multiple sales of company stock ahead of the filing. Officer Kyle Malady sold 1,100 shares on September 29, 2026, at $46.40 for a total of $51,040. Malady sold another 1,100 shares on October 6, 2026, at $45.75 totaling $50,325. Later, on October 13, 2026, Malady sold 1,100 shares under a planned trading rule at $42.93 for $47,223. On October 20, 2026, Malady completed a planned sale of 1,100 shares at $44.48 worth $48,928.

Analysts Set New Price Targets

Wall Street firms updated their views on the stock across recent months. TD Cowen maintained a buy rating on July 27, 2026, raising its price target to $56.00 from $54.00. Morgan Stanley kept an equal-weight rating on July 27, 2026, lifting its target to $52.00 from $50.00. RBC Capital maintained a sector perform rating on July 27, 2026, moving its target to $47.00 from $46.00. Scotiabank kept a sector outperform rating while lowering its target from $52.50 to $51.50 on October 2, 2026, and later adjusted the target to $50.00 on October 9, 2026. The stock carries an overall consensus buy rating and a mean price target of $51.24 across 22 analyst opinions.

About Verizon

Verizon Communications Inc. provides communications, technology, information, and streaming services to consumers, businesses, and government clients worldwide. Operating through consumer and business segments, the company delivers wireless, broadband, and enterprise solutions across global markets.

Bottom Line

Carnegie Investment Counsel's recent reduction sits alongside active institutional rebalancing and upcoming financial disclosures. Investors will look to the upcoming earnings announcement on October 26, 2026, for further clarity on operational margins and cash flow.