AT&T Inc. $T Stock Position Lowered by Nisa Investment Advisors LLC

Key Points

• Nisa Investment Advisors reduced its AT&T stake by 9.7% in the third quarter, selling 158,380 shares and retaining 1.48 million shares valued at approximately $36.1 million. Institutional investors collectively own 57.1% of AT&T.
• Analysts maintain a generally positive outlook, with 11 Buy, six Hold, and one Sell rating. AT&T has a “Moderate Buy” consensus rating and an average price target of $29.05, above its recent $23.41 trading level.
• 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. The company also declared a quarterly dividend of $0.2775 per share, equivalent to a 4.7% annualized yield.

Nisa Investment Advisors LLC cut its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 9.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,477,736 shares of the technology company's stock after selling 158,380 shares during the quarter. Nisa Investment Advisors LLC's holdings in AT&T were worth $36,057,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of AT&T by 5.8% in the second quarter. State Street Corp now owns 334,273,613 shares of the technology company's stock valued at $6,919,464,000 after acquiring an additional 18,468,679 shares in the last quarter. Bank of America Corp DE boosted its holdings in 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 purchasing an additional 5,449,222 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in 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 purchasing an additional 2,559,065 shares in the last quarter. GQG Partners LLC purchased a new stake in AT&T in the 2nd quarter valued at approximately $1,223,364,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in AT&T by 2.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,616,152 shares of the technology company's stock worth $1,151,254,000 after purchasing an additional 1,336,556 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on T. Argus cut their target price on AT&T from $33.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, July 23rd. Morgan Stanley lifted their price target on AT&T from $27.00 to $28.00 and gave the company an "overweight" rating in a research note on Monday, September 28th. Sanford C. Bernstein cut AT&T from an "outperform" rating to a "market perform" rating and set a $24.00 price objective for the company. in a research report on Tuesday, October 13th. Wolfe Research raised AT&T from a "peer perform" rating to an "outperform" rating and set a $29.00 target price for the company in a report on Thursday, July 23rd. Finally, Wells Fargo & Company raised their target price on AT&T from $18.00 to $20.00 and gave the company an "underweight" rating in a report on Thursday, July 23rd. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, AT&T has an average rating of "Moderate Buy" and a consensus price target of $29.05.

Key Headlines Impacting AT&T

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

• Positive Sentiment: Wall Street analysts have an average price target of approximately $29.05, well above AT&T’s recent trading level, suggesting potential upside if the company delivers an in-line or stronger-than-expected quarter. AT&T Inc. Stock Has Average Target Price of $29.05 According to Brokerages
• Positive Sentiment: AT&T is expanding its customer guarantee, including faster technical support, in an effort to improve service quality and retention as it competes with rivals. Better customer experience could support churn trends and recurring revenue. AT&T expands promises to customers as it trails rivals
• Positive Sentiment: A multiyear extension with the NBA and WNBA and the launch of a fourth-generation High-Speed Arena Network reinforce AT&T’s role as a connectivity partner and showcase its enterprise-network capabilities. AT&T, NBA and WNBA Launch Next-Generation Network
• Positive Sentiment: AT&T continues to appeal to income-focused investors, with reports highlighting its roughly 4.6% yield and stated intention to maintain its dividend at $1, potentially supporting valuation if cash flow remains steady. Better Dividend Stock for Retirees: AT&T vs. Comcast

AT&T Price Performance

T stock opened at $23.41 on Wednesday. The firm has a 50 day moving average of $24.94 and a 200-day moving average of $24.33. AT&T Inc. has a 12-month low of $19.89 and a 12-month high of $29.43. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 1.06. The company has a market cap of $160.44 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 1.13 and a beta of 0.25.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.06. The business had revenue of $31.56 billion for the quarter, compared to analysts' expectations of $31.80 billion. AT&T had a return on equity of 12.86% and a net margin of 16.94%. The company's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. As a group, equities analysts expect that AT&T Inc. will post 2.33 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 12th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Friday, October 9th. AT&T's payout ratio is presently 36.75%.

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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