First Citizens Bank & Trust Co. Acquires 67,678 Shares of AT&T Inc. $T

Key Points

• First Citizens Bank increased its AT&T stake by 67% in the third quarter, acquiring 67,678 additional shares and bringing its holdings to 168,683 shares worth approximately $4.1 million. Institutional investors collectively own 57.1% of AT&T.
• Analyst sentiment is generally positive, with AT&T carrying a consensus “Moderate Buy” rating and an average price target of $29.05, despite some target reductions and competitive concerns.
• AT&T reported quarterly earnings of $0.65 per share, beating estimates, and declared a quarterly dividend of $0.2775 per share—an annualized $1.11 and a yield of about 4.8%.

First Citizens Bank & Trust Co. grew its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 67.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 168,683 shares of the technology company's stock after acquiring an additional 67,678 shares during the period. First Citizens Bank & Trust Co.'s holdings in AT&T were worth $4,116,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. IFM Investors Pty Ltd raised its stake in AT&T by 5.3% during the 1st quarter. IFM Investors Pty Ltd now owns 1,488,172 shares of the technology company's stock worth $43,142,000 after acquiring an additional 74,684 shares during the period. Parr Mcknight Wealth Management Group LLC bought a new stake in shares of AT&T in the 1st quarter worth about $2,901,000. Sound Income Strategies LLC grew its position in AT&T by 19.8% in the 3rd quarter. Sound Income Strategies LLC now owns 754,818 shares of the technology company's stock valued at $18,772,000 after acquiring an additional 124,997 shares during the last quarter. Orographic Financial Advisors LLC purchased a new stake in AT&T in the 1st quarter valued at about $3,449,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in shares of AT&T by 34.5% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,075,110 shares of the technology company's stock valued at $22,255,000 after purchasing an additional 275,985 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Scotiabank dropped their target price on AT&T from $27.50 to $26.50 and set a "sector perform" rating on the stock in a research report on Friday, October 9th. TD Cowen increased their target price on shares of AT&T from $32.00 to $33.00 and gave the stock a "hold" rating in a research note on Thursday, July 23rd. BNP Paribas Exane raised shares of 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, September 21st. Wall Street Zen raised AT&T from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Finally, The Goldman Sachs Group set a $30.00 price target on shares of AT&T in a research note on Wednesday, July 22nd. Eleven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.05.

AT&T Stock Up 0.9%

T opened at $23.07 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.93 and a current ratio of 0.97. AT&T Inc. has a one year low of $19.89 and a one year high of $29.43. The business's 50-day simple moving average is $24.99 and its 200-day simple moving average is $24.49. The stock has a market capitalization of $158.06 billion, a P/E ratio of 10.02, a price-to-earnings-growth ratio of 1.14 and a beta of 0.25.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The technology company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.06. The business had revenue of $31.56 billion for 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 business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter 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. Analysts anticipate that AT&T Inc. will post 2.33 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.8%. AT&T's dividend payout ratio is currently 36.75%.

More AT&T News

Here are the key news stories impacting AT&T this week:

• Positive Sentiment: Mexico exit sharpens capital allocation: AT&T will sell AT&T Mexico to a 50/50 consortium of Grupo Televisa and Fintech Holdings for approximately $2 billion in cash, plus potential contractual and contingent payments. The deal, expected to close in the first quarter of 2027 pending regulatory approval, should provide cash and reduce exposure to a lower-priority international market. AT&T to Sell AT&T Mexico to Grupo Televisa and Fintech Holdings
• Positive Sentiment: Investors are emphasizing growth and network investment: AT&T’s messaging has increasingly shifted from debt reduction toward expanding U.S. fiber and 5G, potentially supporting long-term subscriber growth and cash flow. The stock also trades at a low earnings multiple relative to the broader market, which may attract value and income investors. Why You Should Think About AT&T Differently Now?
• Positive Sentiment: Potential earnings upside: Analysts and Zacks expect AT&T to have favorable conditions for an earnings beat in its upcoming report. The consensus forecast is about $2.33 in full-year 2026 EPS, with one analyst recently raising its estimate to $2.34. AT&T Earnings Expected to Grow
• Neutral Sentiment: Settlement approved: A court approved a $177 million settlement related to two 2024 data breaches. The payment resolves litigation uncertainty but represents a corporate cost. AT&T Settlement Payout
• Negative Sentiment: Competitive concerns remain: Bernstein downgraded AT&T and lowered telecom price targets, citing the potential impact of SpaceX’s expanding wireless ambitions on traditional carriers.

About AT&T

AT&T Inc NYSE: T is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.

The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.

AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.

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