Envestnet Asset Management Inc. Sells 2,392,767 Shares of AT&T Inc. $T

Key Points

• Envestnet Asset Management cut its AT&T stake by 14.5% in the second quarter, selling 2.39 million shares and retaining 14.1 million shares valued at approximately $292 million. Institutional investors collectively own 57.1% of AT&T.
• AT&T reported quarterly EPS of $0.65, exceeding expectations of $0.59, while revenue reached $31.56 billion, up 2.3% year over year but below analyst estimates of $31.80 billion.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $29.20, compared with the stock’s opening price of $25.35.

Envestnet Asset Management Inc. lessened its position in shares of AT&T Inc. (NYSE:T - Free Report) by 14.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,104,393 shares of the technology company's stock after selling 2,392,767 shares during the period. Envestnet Asset Management Inc. owned approximately 0.21% of AT&T worth $291,960,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of T. Blueline Advisors LLC acquired a new position in AT&T during the 4th quarter worth approximately $26,000. Winnow Wealth LLC boosted its position in AT&T by 362.8% in the fourth quarter. Winnow Wealth LLC now owns 1,046 shares of the technology company's stock valued at $26,000 after buying an additional 820 shares in the last quarter. Orion Capital Management LLC acquired a new stake in AT&T in the second quarter valued at approximately $26,000. Addison Advisors LLC bought a new stake in shares of AT&T during the second quarter worth $27,000. Finally, Fairway Wealth LLC bought a new stake in shares of AT&T during the first quarter worth $29,000. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Price Performance

Shares of NYSE T opened at $25.35 on Thursday. The company has a market capitalization of $173.72 billion, a PE ratio of 8.39, a P/E/G ratio of 1.25 and a beta of 0.25. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 1.06. AT&T Inc. has a twelve month low of $19.89 and a twelve month high of $29.43. The firm has a fifty day simple moving average of $24.71 and a 200 day simple moving average of $24.90.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.06. The firm had revenue of $31.56 billion for the quarter, compared to analyst estimates of $31.80 billion. AT&T had a return on equity of 12.86% and a net margin of 16.94%.The company's revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.54 earnings per share. 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 2.33 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on T. Wells Fargo & Company boosted their price objective on AT&T from $18.00 to $20.00 and gave the stock an "underweight" rating in a research report on Thursday, July 23rd. BNP Paribas Exane raised AT&T from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $26.00 to $30.00 in a research note on Monday. Morgan Stanley boosted their price target on AT&T from $25.00 to $27.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Weiss Ratings raised AT&T from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 3rd. Finally, Barclays dropped their price objective on shares of AT&T from $26.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, July 8th. Twelve research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, AT&T has a consensus rating of "Moderate Buy" and a consensus target price of $29.20.

AT&T Company Profile

AT&T Inc NYSE: T is a telecommunications company that provides wireless communications, broadband internet, voice, and related connectivity services. Its offerings include mobile phone and data plans, fiber-optic internet, fixed wireless access, traditional voice services, and networking solutions for businesses and government customers.

The company serves consumers, businesses, and public-sector organizations primarily across the United States. AT&T also provides wireless services in Mexico and operates extensive communications networks that support mobile connectivity, internet access, data transmission, and enterprise communications.

AT&T traces its history to the development of the Bell System and has evolved through a series of reorganizations and acquisitions.

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.