EP Wealth Advisors LLC Makes New Investment in AT&T Inc. $T

Key Points

• EP Wealth Advisors purchased 264,001 AT&T shares worth approximately $5.5 million during the second quarter. Institutional investors collectively own 57.1% of the company.
• Analysts maintain a generally positive outlook, with AT&T receiving a consensus “Moderate Buy” rating and an average price target of $29.19; the stock recently traded at $25.70.
• AT&T reported quarterly EPS of $0.65, exceeding estimates of $0.59, while revenue rose 2.3% year over year to $31.56 billion. The company also paid a quarterly dividend of $0.2775 per share, representing a 4.3% annualized yield.

EP Wealth Advisors LLC purchased a new stake in shares of AT&T Inc. (NYSE:T - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 264,001 shares of the technology company's stock, valued at approximately $5,465,000.

Several other large investors have also recently made changes to their positions in T. State Street Corp boosted its position in AT&T by 2.6% during the fourth quarter. State Street Corp now owns 332,089,723 shares of the technology company's stock valued at $8,249,109,000 after buying an additional 8,314,678 shares during the period. Bank of America Corp DE increased its holdings in shares of AT&T by 4.6% in the first quarter. Bank of America Corp DE now owns 125,191,700 shares of the technology company's stock worth $3,629,307,000 after buying an additional 5,449,222 shares during the period. Norges Bank purchased a new position in shares of AT&T in the fourth quarter worth about $2,181,977,000. Bank of New York Mellon Corp lifted its stake in shares of AT&T by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 75,323,574 shares of the technology company's stock valued at $1,559,198,000 after acquiring an additional 2,559,065 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of AT&T by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 51,600,464 shares of the technology company's stock valued at $1,281,756,000 after acquiring an additional 225,708 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on T shares. Weiss Ratings upgraded AT&T from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 3rd. The Goldman Sachs Group set a $30.00 price objective on AT&T in a research report on Wednesday, July 22nd. Oppenheimer lowered AT&T from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 3rd. Wall Street Zen upgraded shares of AT&T from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Finally, Morgan Stanley raised their target price on shares of AT&T from $25.00 to $27.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $29.19.

AT&T Stock Up 1.6%

NYSE T opened at $25.70 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 capitalization of $176.13 billion, a PE ratio of 8.51, a PEG ratio of 1.03 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. The business's 50-day moving average is $22.88 and its 200 day moving average is $25.26.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.06. The company had revenue of $31.56 billion for the quarter, compared to the consensus estimate of $31.80 billion. AT&T had a return on equity of 12.86% and a net margin of 16.94%.AT&T's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 EPS. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. Sell-side analysts forecast that AT&T Inc. will post 2.34 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced 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 4.3%. AT&T's payout ratio is presently 36.75%.

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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