E. Ohman J or Asset Management AB Sells 1,403,353 Shares of AT&T Inc. $T

Key Points

• E. Ohman J or Asset Management AB cut its AT&T stake by 81.8%, selling 1,403,353 shares in the second quarter and retaining 311,315 shares valued at approximately $6.44 million.
• 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.
• AT&T maintains a quarterly dividend of $0.2775 per share, equivalent to an annualized $1.11 payout and a 4.6% yield. Analysts have a “Moderate Buy” consensus rating with an average price target of $29.19.

E. Ohman J or Asset Management AB decreased its stake in AT&T Inc. (NYSE:T - Free Report) by 81.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 311,315 shares of the technology company's stock after selling 1,403,353 shares during the quarter. E. Ohman J or Asset Management AB's holdings in AT&T were worth $6,444,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in T. Vanguard Group Inc. boosted its position in shares of AT&T by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 664,055,700 shares of the technology company's stock worth $16,495,144,000 after purchasing an additional 3,585,661 shares during the period. State Street Corp raised its position in shares of AT&T by 2.6% during the 4th quarter. State Street Corp now owns 332,089,723 shares of the technology company's stock valued at $8,249,109,000 after purchasing an additional 8,314,678 shares during the period. Bank of America Corp DE lifted its stake in shares of 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 in the last quarter. Norges Bank purchased a new position in shares of AT&T during the 4th quarter valued at $2,181,977,000. Finally, Bank of New York Mellon Corp boosted its holdings in AT&T by 12.7% in the 1st quarter. Bank of New York Mellon Corp now owns 72,764,509 shares of the technology company's stock worth $2,109,443,000 after buying an additional 8,197,935 shares during the period. Institutional investors own 57.10% of the company's stock.

AT&T Stock Up 1.2%

Shares of AT&T stock opened at $24.07 on Tuesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.97 and a quick ratio of 0.93. The stock has a market cap of $164.94 billion, a price-to-earnings ratio of 7.97, a PEG ratio of 0.97 and a beta of 0.23. The firm's 50-day moving average is $22.53 and its two-hundred day moving average is $25.23. 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 issued its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.06. AT&T had a net margin of 16.94% and a return on equity of 12.86%. The firm had revenue of $31.56 billion for the quarter, compared to the consensus estimate of $31.80 billion. During the same quarter in the previous year, the firm earned $0.54 EPS. The company'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. As a group, research analysts expect that AT&T Inc. will post 2.34 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed 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 4.6%. AT&T's dividend payout ratio (DPR) is presently 36.75%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on T shares. Oppenheimer lowered shares of AT&T from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 3rd. The Goldman Sachs Group set a $30.00 target price on shares of AT&T in a report on Wednesday, July 22nd. Barclays dropped their target price on shares of AT&T from $26.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 8th. Wells Fargo & Company lifted their price target on shares of AT&T from $18.00 to $20.00 and gave the company an "underweight" rating in a report on Thursday, July 23rd. Finally, BNP Paribas Exane decreased their price target on shares of AT&T from $28.00 to $26.00 and set a "neutral" rating on the stock in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $29.19.

About AT&T

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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