Summit Financial Strategies 13F: Exits VZ Stake

Summit Financial Strategies completely exited its investment in Verizon Communications Inc. (NYSE: VZ), according to a Form 13F filing submitted to the SEC on October 14, 2026. Because 13F filings look backward at portfolio choices made during the prior quarter, this report reflects holdings as of that period and may not represent the firm's current stance.

Inside Summit Financial Strategies's Verizon Trade

The fund sold out of the telecommunications provider entirely during the period, unloading all 4,932 shares it held before. The complete liquidation brought its ending share count to zero, wiping out the prior position. Institutional reports like this show portfolio shifts after the quarter ends, so the actual sale timing took place weeks prior to the public filing date.

Other Institutional Activity in Verizon

Other large institutional players made substantial adjustments to their own Verizon holdings during the same reporting window. Blackrock Inc. grew its holdings by 30,179,042 shares, ending with 398,216,158 shares worth about $17,836,102,081 following an 8.2% increase. Vanguard Capital Management LLC trimmed its stake by 1,196,888 shares, or 0.5%, leaving it with 258,996,106 shares valued around $11,600,435,824. State Street Corporation reduced its position by 5,177,988 shares, a 2.4% drop that left it holding 209,676,274 shares worth approximately $9,391,400,504. Charles Schwab Investment Management, Inc. expanded its portfolio by adding 14,839,678 shares, marking a 13.1% increase to finish with 127,774,822 shares valued at roughly $5,723,034,394. Geode Capital Management, LLC raised its stake by 615,983 shares, a 0.6% increase to a total of 106,820,018 shares worth about $4,784,468,704.

Verizon Communications Inc. Stock Up 0.7%

Verizon shares recently traded around $44.74 as of October 16, 2026. The stock sits below its 50-day moving average of $47.88 and under its 200-day moving average of $46.60. Over the past year, the shares have moved between a 52-week low of $38.39 and a 52-week high of $51.68.

Recent Earnings

For its trailing twelve months, Verizon generated revenue of $138.89 billion with earnings of $3.84 per share. The company posted a net profit margin of 11.6% and a return on equity of 15.8%, alongside a year-over-year revenue decline of 0.7%. The company's next earnings report is scheduled for October 26, 2026.

Dividend

Verizon offers a dividend yield of 6.37% with a payout ratio of 72.8%.

Insider Buying and Selling at Verizon Communications Inc.

Inside activity featured transactions from corporate executives earlier in the year. On June 17, 2026, EVP Joseph Russo bought 84 shares at an average price of $13.08 for a total value of $1,098.72. On the same day, EVP Villanueva Rodriguez Alfonso acquired 80 shares at $13.08 per share totaling $1,046.40, and EVP Vandana Venkatesh picked up 98 shares at $13.08 per share for $1,281.84. Later, on October 13, 2026, EVP Kyle Malady sold 1,100 shares at an average price of $42.93 for a total value of $47,223.00 under a planned trading arrangement.

Analysts Set New Price Targets

Wall Street analysts have updated their outlooks on the telecommunications giant over recent months. On July 27, 2026, TD Cowen maintained its Buy rating while raising its price target to $56.00 from $54.00. Morgan Stanley maintained an Equal-Weight rating on the same day with a price target lifted to $52.00 from $50.00. RBC Capital kept a Sector Perform rating on July 27, 2026, moving its target to $47.00 from $46.00. Scotiabank maintained a Sector Outperform rating on October 2, 2026, while adjusting its target to $51.50 from $52.50, and followed up on October 9, 2026, by setting the target at $50.00. Overall, the stock holds a consensus Buy rating and a mean price target of $51.24 across 22 analyst opinions.

About Verizon Communications

Headquartered in New York, Verizon provides communications, technology, information, and streaming services to consumers, businesses, and government clients worldwide through its Consumer and Business segments. Institutional adjustments in major telecom providers often highlight how asset managers rotate capital amid shifting sector valuations.

Bottom Line

Investors tracking Summit Financial Strategies will need to check future filings to see if the firm returns to the telecom sector. Verizon's upcoming earnings release on October 26, 2026, will provide fresh visibility into financial performance and subscriber metrics. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.