First Horizon Corp Grows Holdings in AT&T Inc. $T

Key Points

• First Horizon Corp boosted its stake in AT&T by 28.4% in the first quarter, adding 81,397 shares to reach 368,309 shares valued at about $10.7 million.
• AT&T’s latest results topped expectations, with Q1 EPS of $0.57 versus $0.55 estimated and revenue of $31.51 billion, up 2.9% year over year.
• The company also declared a quarterly dividend of $0.2775 per share, equal to an annualized yield of about 5.3%, while analysts currently rate the stock Moderate Buy with an average target price of $29.68.

First Horizon Corp grew its position in shares of AT&T Inc. (NYSE:T - Free Report) by 28.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 368,309 shares of the technology company's stock after purchasing an additional 81,397 shares during the period. First Horizon Corp's holdings in AT&T were worth $10,677,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Fairway Wealth LLC acquired a new stake in shares of AT&T during the first quarter worth $29,000. Safe Harbor Fiduciary LLC acquired a new position in shares of AT&T during the 4th quarter valued at about $25,000. Rachor Investment Advisory Services LLC purchased 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 in the fourth quarter worth approximately $26,000. Finally, Blueline Advisors LLC acquired a new position in AT&T during the fourth quarter worth approximately $26,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. KeyCorp upped their price objective on AT&T from $30.00 to $36.00 and gave the stock an "overweight" rating in a report on Wednesday, March 25th. Morgan Stanley reduced their target price on shares of AT&T from $30.00 to $25.00 and set an "overweight" rating on the stock in a report on Tuesday. Scotiabank lowered their price target on AT&T from $31.50 to $31.00 and set a "sector perform" rating for the company in a report on Thursday, April 23rd. Royal Bank Of Canada restated an "outperform" rating and set a $31.00 price objective on shares of AT&T in a research note on Wednesday, May 20th. Finally, BNP Paribas Exane lowered their target price on AT&T from $28.00 to $26.00 and set a "neutral" rating for the company in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $29.68.

More AT&T News

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

• Positive Sentiment: AT&T ranked #1 in customer satisfaction for small business internet service by JD Power, highlighting strong product quality and support for its business connectivity strategy.
• Positive Sentiment: Coverage suggesting AT&T is gaining an edge as a bankrupt carrier exits the market could support market-share expectations and sentiment.
• Neutral Sentiment: New comparisons versus Verizon keep AT&T in focus as investors assess fiber and wireless growth prospects versus valuation.
• Negative Sentiment: Wells Fargo initiated AT&T with an underweight rating and an $18 price target, signaling concern about near-term upside.
• Negative Sentiment: Barclays cut its price target on AT&T to $24 from $26, reflecting a more cautious valuation view.

AT&T Stock Down 0.5%

Shares of NYSE T opened at $21.02 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.87 and a current ratio of 0.92. AT&T Inc. has a 1 year low of $19.89 and a 1 year high of $29.79. The stock's 50-day simple moving average is $23.47 and its 200-day simple moving average is $25.43. The firm has a market cap of $146.04 billion, a price-to-earnings ratio of 7.05, a PEG ratio of 0.86 and a beta of 0.24.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The technology company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.02. AT&T had a return on equity of 12.49% and a net margin of 16.94%.The firm had revenue of $31.51 billion during the quarter, compared to the consensus estimate of $31.29 billion. During the same quarter in the prior year, the business posted $0.51 earnings per share. AT&T's revenue for the quarter was up 2.9% on a year-over-year basis. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. As a group, equities analysts anticipate that AT&T Inc. will post 2.31 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Friday, July 10th. AT&T's dividend payout ratio is 37.25%.

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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