Fifth Third Bancorp Has $55.20 Million Stake in AT&T Inc. $T

Key Points

• Fifth Third Bancorp reduced its AT&T stake by 4.3% in the second quarter, selling 120,529 shares and retaining 2.67 million shares valued at approximately $55.2 million.
• Analyst sentiment remains positive overall, with AT&T holding a consensus “Moderate Buy” rating and an average price target of $29.19, despite several recent target-price cuts.
• AT&T reported quarterly EPS of $0.65, exceeding expectations of $0.59, while revenue rose 2.3% year over year to $31.56 billion. The company also maintains a quarterly dividend of $0.2775, equivalent to a 4.4% annualized yield.

Fifth Third Bancorp reduced its position in AT&T Inc. (NYSE:T - Free Report) by 4.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,666,910 shares of the technology company's stock after selling 120,529 shares during the quarter. Fifth Third Bancorp's holdings in AT&T were worth $55,205,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Rachor Investment Advisory Services LLC acquired a new position in shares of AT&T in the 4th quarter valued at $25,000. Safe Harbor Fiduciary LLC bought a new position in shares of AT&T during the 4th quarter worth about $25,000. Cresta Advisors Ltd. acquired a new stake in shares of AT&T during the 4th quarter valued at about $26,000. Blueline Advisors LLC acquired a new stake in shares of AT&T during the 4th quarter valued at about $26,000. Finally, Winnow Wealth LLC increased its stake 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 acquiring an additional 820 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

T has been the subject of several recent research reports. Scotiabank dropped their price target on shares of AT&T from $31.00 to $29.25 and set a "sector perform" rating for the company in a research report on Wednesday, July 15th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $25.00 price objective on shares of AT&T in a report on Monday, July 13th. Wall Street Zen upgraded AT&T from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. Morgan Stanley increased their target price on AT&T from $25.00 to $27.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Finally, Argus cut their target price on AT&T from $33.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.19.

AT&T Stock Up 1.1%

T opened at $25.17 on Thursday. The firm has a market cap of $172.45 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 1.01 and a beta of 0.23. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.93 and a current ratio of 0.97. The firm's 50-day simple moving average is $22.75 and its 200-day simple moving average is $25.28. AT&T Inc. has a twelve month low of $19.89 and a twelve month high of $29.79.

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 the consensus estimate of $0.59 by $0.06. The firm had revenue of $31.56 billion during the quarter, compared to the consensus estimate of $31.80 billion. AT&T had a net margin of 16.94% and a return on equity of 12.86%. The firm's quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.54 EPS. 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 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a $0.2775 dividend. The ex-dividend date was Friday, July 10th. This represents a $1.11 dividend on an annualized basis 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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