AT&T Inc. $T Shares Sold by Illinois Municipal Retirement Fund

Key Points

• Illinois Municipal Retirement Fund cut its AT&T stake by 6.6% in the first quarter, selling 110,663 shares and leaving it with 1,556,149 shares worth about $45.1 million.
• Wall Street sentiment is mixed but generally constructive: AT&T has a Moderate Buy consensus rating with a $29.34 average price target, even as several firms trimmed or adjusted their targets recently.
• AT&T reported better-than-expected Q1 results with EPS of $0.57 on revenue of $31.51 billion, and it also reaffirmed FY2026 EPS guidance of 2.25 to 2.35 while maintaining a dividend yield of about 5.2%.

Illinois Municipal Retirement Fund reduced its position in shares of AT&T Inc. (NYSE:T - Free Report) by 6.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,556,149 shares of the technology company's stock after selling 110,663 shares during the period. AT&T accounts for about 0.6% of Illinois Municipal Retirement Fund's holdings, making the stock its 21st biggest holding. Illinois Municipal Retirement Fund's holdings in AT&T were worth $45,113,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in AT&T by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 664,055,700 shares of the technology company's stock worth $16,495,144,000 after acquiring an additional 3,585,661 shares during the period. State Street Corp grew its holdings in shares of AT&T by 2.6% during the 4th 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 during the period. Bank of America Corp DE increased its position in shares of AT&T by 3.5% during the 4th quarter. Bank of America Corp DE now owns 119,742,478 shares of the technology company's stock worth $2,974,403,000 after purchasing an additional 4,079,062 shares during the last quarter. Norges Bank purchased a new stake in AT&T in the 4th quarter valued at about $2,181,977,000. Finally, Charles Schwab Investment Management Inc. lifted its position in AT&T by 0.4% in the fourth 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. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on T shares. Scotiabank lowered their price objective on shares of AT&T from $31.00 to $29.25 and set a "sector perform" rating for the company in a research report on Wednesday. KeyCorp increased their price target on AT&T from $30.00 to $36.00 and gave the company an "overweight" rating in a research report on Wednesday, March 25th. Weiss Ratings downgraded shares of AT&T from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, May 29th. Barclays lowered their target price on shares of AT&T from $26.00 to $24.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 8th. Finally, Oppenheimer lowered AT&T from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $29.34.

AT&T News Roundup

Here are the key news stories impacting AT&T this week:

• Positive Sentiment: AT&T received a boost from reports highlighting improved network performance, including a new carrier report and Ookla data showing the company delivers the fastest converged home internet and wireless speeds, which supports the case that its fiber and wireless strategy is gaining traction. AT&T is the Fastest Connectivity Provider
• Positive Sentiment: Several analyst notes raised earnings expectations ahead of AT&T’s quarterly report, with KeyCorp increasing estimates across 2026 and 2027 and maintaining an Overweight rating, which signals confidence in the company’s profit outlook. KeyCorp estimate updates on AT&T
• Positive Sentiment: Coverage pieces arguing AT&T could beat upcoming earnings estimates may be helping sentiment, as investors often bid up shares when expectations rise ahead of results. AT&T Earnings Expected to Grow: Should You Buy?
• Positive Sentiment: AT&T is also being viewed as relatively undervalued by some market commentary, with articles noting the stock may look inexpensive versus its fundamentals and long-term performance. AT&T Stock Still Looks Like A Bargain Despite Satellite Threat Fears
• Neutral Sentiment: The company is moving ahead with technology initiatives such as 5G drone sensing and H2O AI deployment, which may support longer-term differentiation but are not likely to move the stock immediately.
• Negative Sentiment: AT&T customers are set to face higher monthly charges due to a fee increase, which could pressure customer sentiment and raise concerns about churn or affordability. AT&T customers to pay more as monthly fee jumps
• Negative Sentiment: Recent analyst caution tied to Starlink and a Scotiabank price-target cut may be weighing on sentiment, as investors reassess long-term competition and valuation in telecom. Starlink threat causes Bernstein to cut AT&T PTs

AT&T Trading Up 0.7%

Shares of AT&T stock opened at $21.43 on Thursday. AT&T Inc. has a 1 year low of $19.89 and a 1 year high of $29.79. The company has a market capitalization of $148.87 billion, a P/E ratio of 7.19, a PEG ratio of 0.86 and a beta of 0.24. The company's fifty day moving average is $23.11 and its two-hundred day moving average is $25.34. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.87 and a current ratio of 0.92.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The technology company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.02. AT&T had a return on equity of 12.49% and a net margin of 16.94%.The company had revenue of $31.51 billion for the quarter, compared to the consensus estimate of $31.29 billion. During the same period last year, the business posted $0.51 EPS. The company's revenue was up 2.9% on a year-over-year basis. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. Analysts forecast that AT&T Inc. will post 2.32 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a $0.2775 dividend. The ex-dividend date is Friday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.2%. AT&T's dividend payout ratio is presently 37.25%.

AT&T Company 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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