Bank of America Corp DE Acquires New Position in AT&T Inc. $T

Bank of America Corp DE bought a new position in AT&T Inc. (NYSE:T - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 111,637,584 shares of the technology company's stock, valued at approximately $2,310,898,000. Bank of America Corp DE owned 1.63% of AT&T as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in T. State Street Corp increased its position 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 during the last quarter. Norges Bank acquired a new stake in AT&T during the 4th quarter worth approximately $2,181,977,000. Bank of New York Mellon Corp raised its holdings in AT&T by 12.7% in the first quarter. Bank of New York Mellon Corp now owns 72,764,509 shares of the technology company's stock valued at $2,109,443,000 after buying an additional 8,197,935 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AT&T by 1.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,375,637 shares of the technology company's stock valued at $1,251,331,000 after buying an additional 482,321 shares during the period. Finally, GQG Partners LLC acquired a new position in AT&T during the second quarter valued at approximately $1,223,364,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Up 1.7%

Shares of NYSE:T opened at $26.51 on Tuesday. AT&T Inc. has a 1-year low of $19.89 and a 1-year high of $29.79. The company's fifty day moving average is $24.09 and its two-hundred day moving average is $25.03. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.93 and a current ratio of 0.97. The stock has a market capitalization of $181.63 billion, a price-to-earnings ratio of 8.78, a price-to-earnings-growth ratio of 1.29 and a beta of 0.25.

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

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, July 10th. AT&T's dividend payout ratio (DPR) is 36.75%.

Analyst Ratings Changes

A number of equities analysts have recently commented on T shares. Weiss Ratings raised shares of AT&T from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 3rd. Morgan Stanley increased their price target on AT&T from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Royal Bank Of Canada lowered their price target on AT&T from $31.00 to $27.00 and set an "outperform" rating for the company in a report on Monday, July 20th. Scotiabank cut their price objective on AT&T from $31.00 to $29.25 and set a "sector perform" rating on the stock in a research report on Wednesday, July 15th. Finally, Wolfe Research upgraded AT&T from a "peer perform" rating to an "outperform" rating and set a $29.00 price objective on the stock in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, AT&T presently has an average rating of "Moderate Buy" and an average target price of $29.19.

AT&T Company Profile

AT&T Inc NYSE: T is a telecommunications company that provides wireless communications, broadband internet, voice, and related connectivity services. Its offerings include mobile phone and data plans, fiber-optic internet, fixed wireless access, traditional voice services, and networking solutions for businesses and government customers.

The company serves consumers, businesses, and public-sector organizations primarily across the United States. AT&T also provides wireless services in Mexico and operates extensive communications networks that support mobile connectivity, internet access, data transmission, and enterprise communications.

AT&T traces its history to the development of the Bell System and has evolved through a series of reorganizations and acquisitions.

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