Equitable Holdings Inc. Makes New Investment in AT&T Inc. $T

Key Points

• Equitable Holdings initiated a position in AT&T, purchasing 209,509 shares worth approximately $4.34 million during the second quarter. Institutional investors collectively own 57.1% of AT&T.
• Analysts maintain a generally positive outlook, with AT&T carrying a “Moderate Buy” consensus rating and an average price target of $29.19, despite several recent target-price adjustments.
• AT&T exceeded quarterly EPS expectations, reporting $0.65 versus the $0.59 consensus, while revenue rose 2.3% year over year to $31.56 billion. The company also pays a quarterly dividend of $0.2775 per share, representing a 4.4% annualized yield.

Equitable Holdings Inc. bought a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 209,509 shares of the technology company's stock, valued at approximately $4,337,000.

Several other hedge funds and other institutional investors have also bought and sold shares of T. Bank of America Corp DE bought a new stake in AT&T in the second quarter valued at approximately $2,310,898,000. Norges Bank bought a new position in shares of AT&T during the fourth quarter worth $2,181,977,000. GQG Partners LLC acquired a new position in shares of AT&T in the 2nd quarter valued at $1,223,364,000. Legal & General Group Plc bought a new stake in shares of AT&T in the 2nd quarter valued at $960,695,000. Finally, Amundi increased its position in shares of AT&T by 67.5% in the 3rd quarter. Amundi now owns 42,295,492 shares of the technology company's stock valued at $1,094,184,000 after buying an additional 17,040,328 shares in the last quarter. Institutional investors own 57.10% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on T. Royal Bank Of Canada reduced 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. Argus dropped their price target on AT&T from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Morgan Stanley lifted their price objective on AT&T from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. TD Cowen increased their target price on AT&T from $32.00 to $33.00 and gave the stock a "hold" rating in a research note on Thursday, July 23rd. Finally, The Goldman Sachs Group set a $30.00 target price on shares of AT&T in a report on Wednesday, July 22nd. One equities 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $29.19.

AT&T Price Performance

NYSE T opened at $25.42 on Friday. The firm's 50 day moving average is $23.06 and its 200-day moving average is $25.23. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $174.16 billion, a PE ratio of 8.42, a price-to-earnings-growth ratio of 1.05 and a beta of 0.23. AT&T Inc. has a 12-month low of $19.89 and a 12-month high of $29.79.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, July 22nd. The technology company reported $0.65 earnings per share for the quarter, beating 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 business had revenue of $31.56 billion during the quarter, compared to the consensus estimate of $31.80 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The firm's revenue for the quarter 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. Equities research analysts anticipate that AT&T Inc. will post 2.34 earnings per share for the current fiscal year.

AT&T Announces Dividend

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

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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