AT&T Inc. $T Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its AT&T stake by 2.3% in the third quarter, selling 416,668 shares and retaining 17.74 million shares valued at approximately $432.9 million. Institutional investors collectively own 57.1% of AT&T.
• AT&T reported quarterly EPS of $0.65, exceeding estimates by $0.05, while revenue rose 5.2% year over year to $32.32 billion. The stock was trading around $21.45, and analysts maintained a consensus “Moderate Buy” rating with a $28.55 target price.
• The company declared a quarterly dividend of $0.2775 per share, equivalent to a 5.2% annualized yield. However, reported dividend payments fell 46% as AT&T directed billions toward share repurchases, a potential concern for income-focused investors.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,742,913 shares of the technology company's stock after selling 416,668 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.26% of AT&T worth $432,927,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of AT&T in the third quarter valued at approximately $42,122,000. Aviance Capital Partners LLC boosted its position in AT&T by 3.3% during the 3rd quarter. Aviance Capital Partners LLC now owns 30,984 shares of the technology company's stock valued at $756,000 after acquiring an additional 989 shares in the last quarter. SFE Investment Counsel boosted its position in AT&T by 1.4% during the 3rd quarter. SFE Investment Counsel now owns 36,868 shares of the technology company's stock valued at $900,000 after acquiring an additional 519 shares in the last quarter. Grandfield & Dodd LLC purchased a new position in shares of AT&T in the 3rd quarter valued at $222,000. Finally, Investment Partners LTD. increased its holdings in shares of AT&T by 44.5% in the 3rd quarter. Investment Partners LTD. now owns 19,582 shares of the technology company's stock valued at $478,000 after acquiring an additional 6,035 shares during the period. Institutional investors own 57.10% of the company's stock.

Trending Headlines about AT&T

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

• Positive Sentiment: Fresh estimates indicate that building a nationwide wireless network would be expensive for SpaceX, reducing the near-term threat to established carriers such as AT&T. T-Mobile’s decision not to pursue an MVNO arrangement with SpaceX also suggests incumbents are not immediately embracing the proposed rival. T-Mobile, SpaceX and wireless competition article
• Positive Sentiment: Televisa expects AT&T’s planned purchase to strengthen its competitive position. A stronger strategic footprint could support AT&T’s long-term growth and operating leverage, although the transaction is expected to increase debt. Televisa expects AT&T purchase to strengthen position
• Neutral Sentiment: Wireless pioneer Ray Dolan suggested mobile internet could eventually become free if carriers monetize data collected from cell-tower sensing. The idea highlights a possible future revenue stream for AT&T, but it is speculative and unlikely to affect near-term earnings. Wireless carriers and free mobile internet article
• Negative Sentiment: AT&T’s dividend payments reportedly fell 46% while the company directed billions toward share repurchases. Buybacks can support per-share earnings and signal management confidence, but the reduced dividend is a drawback for income-focused investors and raises questions about whether capital returns are being shifted away from cash payouts. AT&T dividend payments and stock buybacks article

AT&T Trading Up 2.5%

NYSE:T opened at $21.45 on Friday. The stock has a market capitalization of $144.50 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.06 and a beta of 0.25. AT&T Inc. has a 52 week low of $19.89 and a 52 week high of $29.43. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 1.22. The firm has a 50 day moving average of $24.36 and a 200 day moving average of $24.96.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.05. AT&T had a net margin of 10.19% and a return on equity of 13.41%. The business had revenue of $32.32 billion for the quarter, compared to analyst estimates of $31.69 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The business's revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.39 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Friday, October 9th. AT&T's dividend payout ratio is currently 60.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on T shares. Royal Bank Of Canada reduced their price target on AT&T from $31.00 to $27.00 and set an "outperform" rating for the company in a research report on Monday, July 20th. The Goldman Sachs Group set a $27.00 price objective on AT&T in a research note on Wednesday, October 21st. JPMorgan Chase & Co. dropped their price objective on AT&T from $33.00 to $31.00 and set an "overweight" rating on the stock in a research report on Thursday, October 22nd. Wells Fargo & Company lifted their target price on AT&T from $18.00 to $20.00 and gave the company an "underweight" rating in a research note on Thursday, July 23rd. Finally, Barclays cut their target price on AT&T from $24.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 22nd. Twelve equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and a consensus target price of $28.55.

AT&T Profile

AT&T Inc NYSE: T is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.

The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.

AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.

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