Beese Fulmer Investment Management Inc. Boosts Stake in AT&T Inc. $T

Key Points

• Beese Fulmer Investment Management increased its AT&T stake by 91.1% in the fourth quarter, bringing its holdings to 153,217 shares worth about $3.8 million.
• AT&T recently reported better-than-expected quarterly results, with earnings of $0.57 per share on revenue of $31.51 billion, and it maintained FY 2026 guidance of 2.25 to 2.35 EPS.
• The stock remains relatively inexpensive with a 4.6% dividend yield, but shares are trading below recent moving averages, and analysts currently have a Moderate Buy consensus with an average price target of $30.55.

Beese Fulmer Investment Management Inc. raised its position in AT&T Inc. (NYSE:T - Free Report) by 91.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,217 shares of the technology company's stock after buying an additional 73,029 shares during the period. Beese Fulmer Investment Management Inc.'s holdings in AT&T were worth $3,806,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in AT&T by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 664,055,700 shares of the technology company's stock valued at $16,495,144,000 after buying an additional 3,585,661 shares during the last quarter. State Street Corp boosted its position in AT&T by 0.8% in the 3rd quarter. State Street Corp now owns 323,775,045 shares of the technology company's stock valued at $9,143,407,000 after buying an additional 2,704,536 shares during the last quarter. Capital Research Global Investors raised its stake in shares of AT&T by 0.6% in the 3rd quarter. Capital Research Global Investors now owns 65,607,835 shares of the technology company's stock valued at $1,852,765,000 after purchasing an additional 370,455 shares in the last quarter. Invesco Ltd. raised its stake in shares of AT&T by 8.6% in the 3rd quarter. Invesco Ltd. now owns 57,823,362 shares of the technology company's stock valued at $1,632,932,000 after purchasing an additional 4,584,316 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of AT&T by 1.4% in the 3rd quarter. Legal & General Group Plc now owns 48,559,566 shares of the technology company's stock valued at $1,371,322,000 after purchasing an additional 691,221 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Scotiabank cut their target price on shares of AT&T from $31.50 to $31.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 23rd. TD Cowen restated a "hold" rating on shares of AT&T in a research note on Thursday, January 29th. Royal Bank Of Canada restated an "outperform" rating and issued a $31.00 target price on shares of AT&T in a research note on Thursday, February 12th. Wells Fargo & Company cut their target price on shares of AT&T from $29.00 to $27.00 and set an "overweight" rating on the stock in a research note on Monday, January 26th. Finally, Williams Trading set a $32.00 target price on shares of AT&T in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and an average price target of $30.55.

AT&T News Roundup

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

• Positive Sentiment: AT&T joined Verizon and T-Mobile in a proposed joint venture to expand coverage in rural and hard-to-reach areas, which could improve service quality and strengthen the carriers’ competitive positioning over time. US wireless carriers to launch joint venture to address rural 'dead zones'
• Positive Sentiment: Investors are also digesting AT&T’s shareholder/analyst meeting results, including the re-election of all 10 board nominees, which signals governance stability. AT&T Announces Preliminary Results of 2026 Annual Meeting
• Neutral Sentiment: Several articles compared AT&T with Verizon, T-Mobile, and even AST SpaceMobile, reflecting ongoing investor debate about which connectivity strategy will win as the industry shifts toward fiber and satellite-enabled service. AT&T vs AST SpaceMobile: Which Connectivity Stock Should You Bet On?
• Neutral Sentiment: AT&T’s recent shareholder/analyst call transcript has drawn attention, but no major new surprise from the transcript appears to be driving the move on its own. AT&T Inc. (T) Shareholder/Analyst Call Transcript
• Negative Sentiment: Despite the strategic headlines, AT&T remains well below its recent moving averages, suggesting investors are still cautious about growth, leverage, and execution risk.

AT&T Stock Performance

Shares of AT&T stock opened at $24.05 on Friday. The firm has a market cap of $167.07 billion, a PE ratio of 8.07, a price-to-earnings-growth ratio of 0.88 and a beta of 0.23. AT&T Inc. has a 1 year low of $22.95 and a 1 year high of $29.79. The firm's 50-day simple moving average is $26.95 and its 200-day simple moving average is $26.00. 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 released its quarterly earnings data on Wednesday, April 22nd. The technology company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.02. The firm had revenue of $31.51 billion for the quarter, compared to analyst estimates of $31.29 billion. AT&T had a net margin of 16.94% and a return on equity of 12.49%. AT&T's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. Equities analysts forecast that AT&T Inc. will post 2.31 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Friday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.6%. AT&T's dividend payout ratio is 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.

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.