Elevation Point Wealth Partners LLC bought 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 297,682 shares of the technology company's stock, valued at approximately $6,162,000.
Several other hedge funds have also recently bought and sold shares of T. Alta Advisers Ltd acquired a new position in AT&T during the second quarter valued at approximately $568,000. Daiichi Life Insurance Co. Ltd. purchased a new stake in AT&T during the second quarter worth approximately $18,101,000. Commerce Bank acquired a new stake in shares of AT&T in the second quarter worth $15,951,000. GQG Partners LLC acquired a new stake in shares of AT&T in the second quarter worth $1,223,364,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of AT&T in the 2nd quarter valued at $21,038,000. Hedge funds and other institutional investors own 57.10% of the company's stock.
AT&T Price Performance
T opened at $25.77 on Wednesday. The company has a fifty day simple moving average of $22.93 and a 200 day simple moving average of $25.25. The firm has a market cap of $176.55 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 1.05 and a beta of 0.23. AT&T Inc. has a twelve month low of $19.89 and a twelve month high of $29.79. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 1.06.
AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.65 earnings per share (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 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 posted $0.54 EPS. The firm's quarterly revenue was up 2.3% on a year-over-year basis. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. Equities research analysts expect that AT&T Inc. will post 2.34 EPS for the current fiscal year.
AT&T Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, July 10th. AT&T's payout ratio is presently 36.75%.
Analyst Ratings Changes
Several research firms recently weighed in on T. Sanford C. Bernstein restated an "outperform" rating and set a $25.00 target price on shares of AT&T in a report on Monday, July 13th. TD Cowen upped their target price on AT&T from $32.00 to $33.00 and gave the stock a "hold" rating in a research report on Thursday, July 23rd. The Goldman Sachs Group set a $30.00 target price on AT&T in a research report on Wednesday, July 22nd. Barclays dropped their target price on AT&T from $26.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 8th. Finally, Morgan Stanley boosted their price target on AT&T from $25.00 to $27.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $29.19.
View Our Latest Analysis on AT&T
About AT&T
(
Free Report)
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.
See Also
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