Allworth Financial LP Invests $23.65 Million in AT&T Inc. $T

Key Points

• Allworth Financial LP acquired 1.14 million AT&T shares during the second quarter, worth approximately $23.65 million. Institutional investors collectively own 57.1% of the company.
• AT&T reported quarterly EPS of $0.65, exceeding estimates of $0.59, while revenue rose 2.3% year over year to $31.56 billion, slightly below expectations.
• The company pays an annualized dividend of $1.11 per share, yielding about 4.3%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $29.19, compared with a recent share price of $25.70.

Allworth Financial LP bought a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,142,510 shares of the technology company's stock, valued at approximately $23,650,000.

Other large investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in AT&T by 2.6% during the fourth quarter. State Street Corp now owns 332,089,723 shares of the technology company's stock worth $8,249,109,000 after purchasing an additional 8,314,678 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of AT&T by 4.6% in the 1st quarter. Bank of America Corp DE now owns 125,191,700 shares of the technology company's stock valued at $3,629,307,000 after buying an additional 5,449,222 shares in the last quarter. Norges Bank acquired a new position in shares of AT&T in the 4th quarter valued at $2,181,977,000. Bank of New York Mellon Corp boosted its holdings in shares of AT&T by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 75,323,574 shares of the technology company's stock valued at $1,559,198,000 after buying an additional 2,559,065 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of AT&T by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 51,600,464 shares of the technology company's stock valued at $1,281,756,000 after buying an additional 225,708 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Up 1.6%

Shares of NYSE:T opened at $25.70 on Tuesday. The stock has a market cap of $176.13 billion, a P/E ratio of 8.51, a P/E/G ratio of 1.03 and a beta of 0.23. The firm has a fifty day moving average price of $22.88 and a 200 day moving average price of $25.26. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.97 and a quick ratio of 0.93. AT&T Inc. has a 1-year low of $19.89 and a 1-year high of $29.79.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. AT&T's dividend payout ratio (DPR) is currently 36.75%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on T. Royal Bank Of Canada cut their price target on shares of AT&T from $31.00 to $27.00 and set an "outperform" rating on the stock in a research note on Monday, July 20th. Oppenheimer downgraded shares of AT&T from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 3rd. Barclays dropped their price objective on AT&T from $26.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 8th. The Goldman Sachs Group set a $30.00 target price on AT&T in a research report on Wednesday, July 22nd. Finally, Wall Street Zen raised AT&T from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $29.19.

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.

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