California Public Employees Retirement System Has $471.79 Million Stock Holdings in AT&T Inc. $T

Key Points

• CalPERS cut its AT&T stake by 22.5% in the first quarter, selling 4.7 million shares but still holding 16.27 million shares worth about $471.8 million at quarter-end.
• Wall Street sentiment remains mostly constructive, with several analysts boosting earnings estimates or maintaining bullish price targets, while the consensus rating is Moderate Buy with an average target of about $29.34.
• AT&T recently reported better-than-expected quarterly results and kept its FY2026 EPS guidance at $2.25 to $2.35; it also announced a quarterly dividend of $0.2775 per share, implying a 5.1% yield.

California Public Employees Retirement System reduced its position in shares of AT&T Inc. (NYSE:T - Free Report) by 22.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,274,183 shares of the technology company's stock after selling 4,713,219 shares during the period. California Public Employees Retirement System owned approximately 0.23% of AT&T worth $471,789,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Tsfg LLC raised its holdings in shares of AT&T by 3.6% during the 4th quarter. Tsfg LLC now owns 10,656 shares of the technology company's stock worth $265,000 after buying an additional 366 shares in the last quarter. Lifestyle Asset Management Inc. grew its position in AT&T by 3.6% in the fourth quarter. Lifestyle Asset Management Inc. now owns 10,511 shares of the technology company's stock valued at $261,000 after acquiring an additional 368 shares during the last quarter. Hillsdale Investment Management Inc. grew its position in AT&T by 1.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 31,970 shares of the technology company's stock valued at $794,000 after acquiring an additional 370 shares during the last quarter. Bruce G. Allen Investments LLC boosted its stake in shares of AT&T by 1.7% in the 4th quarter. Bruce G. Allen Investments LLC now owns 22,398 shares of the technology company's stock valued at $556,000 after purchasing an additional 374 shares in the last quarter. Finally, Rockline Wealth Management LLC grew its holdings in shares of AT&T by 3.8% during the 4th quarter. Rockline Wealth Management LLC now owns 10,445 shares of the technology company's stock valued at $259,000 after purchasing an additional 378 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Key Stories Impacting AT&T

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

• Positive Sentiment: Analysts have recently raised earnings estimates for AT&T, and several firms maintain price targets well above the current share price, including a new $29.25 target from Scotiabank and a median target around $25.50. This suggests Wall Street still sees upside if execution stays on track. Analysts Set AT&T Inc. NYSE: T Target Price at $29.68
• Positive Sentiment: Erste Group Bank lifted its FY2026 and FY2027 EPS estimates for AT&T, reinforcing expectations that earnings remain stable and could support valuation ahead of the report.
• Positive Sentiment: AT&T said its AI-based network outage prevention system cut customer downtime by more than 12 million hours, highlighting improving network reliability and a potential operational advantage. AT&T built an AI system to prevent network outages. It reduced customer downtime by more than 12 million hours
• Positive Sentiment: Recent commentary ahead of earnings points to continued expansion in fiber, enterprise connectivity, and connected-car offerings, which could help offset slower growth in wireless.
• Neutral Sentiment: Investor and hedge-fund activity appears mixed: some large funds have added to AT&T, while others reduced exposure, suggesting the name remains widely watched but not universally favored.
• Neutral Sentiment: AT&T also disclosed modest lobbying activity tied to telecom regulation, broadband support, and spectrum issues. That is important for the business, but it is not a near-term earnings catalyst.
• Negative Sentiment: Competition in telecom remains intense, and several recent articles emphasize that AT&T still has questions to answer on growth and execution heading into earnings. That uncertainty is likely weighing on shares.
• Negative Sentiment: Some analyst targets remain below the current trading range, including recent calls from Wells Fargo and Scotiabank in the high teens to low $20s, showing that not all analysts believe the rally is fully justified.

Analyst Ratings Changes

T has been the topic of a number of research reports. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $25.00 target price on shares of AT&T in a research note on Monday. Royal Bank Of Canada reiterated an "outperform" rating and set a $31.00 target price on shares of AT&T in a research report on Wednesday, May 20th. Oppenheimer cut shares of AT&T from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 3rd. 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. Finally, KeyCorp lifted their price target on shares of AT&T from $30.00 to $36.00 and gave the stock an "overweight" rating in a report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $29.34.

AT&T Price Performance

Shares of T opened at $21.79 on Friday. The business has a 50-day moving average of $22.98 and a 200-day moving average of $25.30. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.92 and a quick ratio of 0.87. The company has a market capitalization of $151.38 billion, a price-to-earnings ratio of 7.31, a price-to-earnings-growth ratio of 0.87 and a beta of 0.24. AT&T Inc. has a 1 year low of $19.89 and a 1 year high of $29.79.

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

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, July 10th. AT&T's dividend payout ratio is currently 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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