Corient Private Wealth LP Buys Shares of 2,706,349 AT&T Inc. $T

Key Points

• Corient Private Wealth purchased 2,706,349 AT&T shares during the second quarter, valued at approximately $46.7 million. Institutional investors collectively own 57.1% of the company.
• AT&T reported quarterly EPS of $0.65, beating estimates of $0.59, while revenue rose 2.3% year over year to $31.56 billion, slightly below expectations.
• The company maintains a quarterly dividend of $0.2775 per share, equivalent to an annualized $1.11 payout and a 4.4% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $29.19.

Corient Private Wealth LP purchased a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,706,349 shares of the technology company's stock, valued at approximately $46,653,000.

Several other institutional investors and hedge funds also recently modified their holdings of T. State Street Corp lifted its holdings in AT&T by 2.6% in 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 period. Bank of America Corp DE increased its stake in AT&T by 4.6% during 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 buying an additional 5,449,222 shares during the period. Norges Bank acquired a new position in AT&T during the 4th quarter valued at about $2,181,977,000. Bank of New York Mellon Corp raised its position in shares of AT&T by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 75,323,574 shares of the technology company's stock worth $1,559,198,000 after buying an additional 2,559,065 shares in the last quarter. Finally, GQG Partners LLC bought a new stake in shares of AT&T during the 2nd quarter worth about $1,223,364,000. Institutional investors own 57.10% of the company's stock.

AT&T Stock Down 1.8%

NYSE:T opened at $25.42 on Friday. The business's fifty day moving average price is $23.06 and its 200 day moving average price is $25.23. 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 firm has a market capitalization of $174.16 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 1.05 and a beta of 0.23. 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 posted its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.59 by $0.06. AT&T had a net margin of 16.94% and a return on equity of 12.86%. The business had revenue of $31.56 billion during the quarter, compared to analysts' expectations of $31.80 billion. During the same period last year, the company posted $0.54 earnings per share. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. On average, sell-side analysts forecast that AT&T Inc. will post 2.34 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.4%. AT&T's dividend payout ratio (DPR) is 36.75%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on T. Wolfe Research upgraded shares of AT&T from a "peer perform" rating to an "outperform" rating and set a $29.00 price objective for the company in a report on Thursday, July 23rd. Royal Bank Of Canada lowered their target price on AT&T from $31.00 to $27.00 and set an "outperform" rating on the stock in a report on Monday, July 20th. The Goldman Sachs Group set a $30.00 price objective on shares of AT&T in a research report on Wednesday, July 22nd. Scotiabank decreased their price target on shares of 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, Weiss Ratings raised AT&T from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, AT&T presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.19.

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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