1,110,650 Shares in AT&T Inc. $T Purchased by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 1.11 million AT&T shares during the second quarter, valued at approximately $23 million. Institutional investors collectively own 57.1% of the company.
• Analysts maintain a generally positive view, with AT&T receiving a consensus rating of “Moderate Buy” and an average price target of $29.19, despite several target-price reductions.
• AT&T reported quarterly EPS of $0.65, beating expectations of $0.59, while revenue rose 2.3% year over year to $31.56 billion. The company also paid a quarterly dividend of $0.2775, representing a 4.4% annualized yield.

Empowered Funds LLC acquired a new stake in AT&T Inc. (NYSE:T - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,110,650 shares of the technology company's stock, valued at approximately $22,990,000.

A number of other institutional investors also recently added to or reduced their stakes in T. Fairway Wealth LLC purchased a new position in shares of AT&T during the 1st quarter worth approximately $29,000. Robinswood Financial LLC acquired a new position in AT&T during the first quarter worth $29,000. Safe Harbor Fiduciary LLC acquired a new position in AT&T during the fourth quarter worth $25,000. Cresta Advisors Ltd. purchased a new position in AT&T in the fourth quarter worth $26,000. Finally, Blueline Advisors LLC purchased a new position in AT&T in the fourth quarter worth $26,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Argus decreased their target price on shares of AT&T from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Weiss Ratings upgraded shares of AT&T from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 3rd. Royal Bank Of Canada decreased their price objective on shares of AT&T from $31.00 to $27.00 and set an "outperform" rating on the stock in a report on Monday, July 20th. Wells Fargo & Company increased their target price on shares of AT&T from $18.00 to $20.00 and gave the company an "underweight" rating in a report on Thursday, July 23rd. Finally, TD Cowen lifted their price target on shares of AT&T from $32.00 to $33.00 and gave the company a "hold" rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $29.19.

AT&T Trading Down 1.8%

NYSE:T opened at $25.42 on Friday. The company has a market capitalization of $174.16 billion, a PE ratio of 8.42, a price-to-earnings-growth ratio of 1.05 and a beta of 0.23. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 52-week low of $19.89 and a 52-week high of $29.79. The stock has a fifty day simple moving average of $23.06 and a 200-day simple moving average of $25.23.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.06. The firm had revenue of $31.56 billion for the quarter, compared to analysts' expectations of $31.80 billion. AT&T had a net margin of 16.94% and a return on equity of 12.86%. The firm's revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 EPS. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. On average, equities research analysts expect that AT&T Inc. will post 2.34 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.4%. AT&T's dividend payout ratio is presently 36.75%.

AT&T Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T's product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source