Wilmington Savings Fund Society, FSB 13F: Cuts VZ Stake by $1.4M

Wilmington Savings Fund Society reduced its holdings in Verizon Communications Inc. (NYSE: VZ) during the quarter, according to a Form 13F filing submitted to the SEC on October 23, 2026. The institution trimmed its position by 10.9%, selling 31,571 shares to finish the period with 256,497 shares. The remaining stake carried a reported value of $11,765,518 at the filing date. Shares of Verizon closed at $44.66 on October 23.

VZ Verizon Communications Inc.

$45.20 ▲ +18.98% year to date

1M 3M YTD

Daily close · Oct 22, 2026

Other Institutional Activity in Verizon Communications Inc.

Other major investors have also adjusted their positions in the telecom giant recently. Euro Pacific Asset Management picked up 5,200 shares, ending with 5,200 shares valued at about $261,638. Summit Financial Strategies completely exited its holding by unloading 4,932 shares to bring its balance to zero. Carnegie Investment Counsel trimmed its stake by 36,765 shares, leaving it with 782,621 shares worth roughly $33.9 million. Meanwhile, Y-Intercept established a brand-new position with 362,110 shares valued at approximately $16.6 million.

Verizon Communications Inc. Stock Up 2.4%

Verizon shares recently traded around $44.62 as of October 24, which puts the stock down about 0.1% since the filing date. The equity sits below its 50-day moving average of $47.62 and underneath its 200-day moving average of $46.70. Over the past year, the stock has traded between a low of $38.39 and a high of $51.68, placing its recent price 16.2% above its 52-week floor and 13.7% below its ceiling.

Recent Earnings

Verizon generated trailing-twelve-month revenue of $138.9 billion alongside a net profit margin of 11.6%. The company posted trailing earnings of $3.84 per share, translating to a return on equity of 15.8%. Revenue dipped 0.7% compared to the same period a year earlier. Investors are tracking the company's next earnings report scheduled for October 26, 2026.

Dividend

Verizon pays an annual dividend rate of $2.83 per share, which translates to a dividend yield of 6.26%. The company's dividend payout ratio sits at 72.8%, showing the portion of earnings dedicated to shareholder distributions.

Insider Buying and Selling at Verizon Communications Inc.

Company insiders have been active in the open market over recent months. Joseph Russo, EVP and President of Global Networks and Technology, bought 84 shares on June 17 at $13.08 per share for a total of $1,098.72. Villanueva Rodriguez Alfonso, EVP and Group CEO of Verizon Consumer and CTO, acquired 80 shares on the same day at $13.08 apiece, totaling $1,046.40. Kyle Malady, EVP and Group CEO of Verizon Business, sold 1,100 shares under a pre-arranged trading plan on October 13 at $42.93 per share for $47,223, followed by another sale of 1,100 shares on October 20 at $44.48 per share valued at $48,928.

Analysts Set New Price Targets

Wall Street firms continue to adjust their outlooks on the telecom provider. TD Cowen maintained its buy rating on July 27 while raising its target from $54.00 to $56.00. Morgan Stanley kept an equal-weight rating on July 27 with a target moved from $50.00 to $52.00. RBC Capital maintained a sector perform rating on July 27, adjusting its target from $46.00 to $47.00. Scotiabank maintained a sector outperform rating on October 2 while lowering its target from $52.50 to $51.50, and later kept the same rating on October 9 with a further reduction to $50.00. Overall, the stock carries a buy consensus from 22 analysts with a mean price target of $51.24.

About Verizon Communications Inc.

Verizon Communications Inc. provides communications, technology, information, and streaming services to consumers, businesses, and government clients. Operating through its consumer and business segments, the company delivers wireless connectivity, broadband internet, and enterprise solutions across vast digital networks.

Bottom Line

Wilmington Savings Fund Society reduced its exposure to Verizon as the telecom company approaches its latest financial results. Investors will look to the upcoming earnings release on October 26 for fresh details on subscriber growth, cash flow generation, and debt management.