Fisher Funds Management LTD Trims Stock Holdings in AT&T Inc. $T

Key Points

• Fisher Funds Management cut its AT&T stake by 12.5% in Q1, selling 105,925 shares and leaving it with 741,432 shares valued at about $21.5 million.
• Analysts remain broadly positive on AT&T, with a consensus rating of Moderate Buy and an average price target of $30.55 after several firms raised or reiterated targets.
• AT&T recently beat quarterly earnings expectations and continued paying a 5.0% dividend yield, though regulatory pushback in California could complicate its copper-network shutdown plans.

Fisher Funds Management LTD decreased its position in AT&T Inc. (NYSE:T - Free Report) by 12.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 741,432 shares of the technology company's stock after selling 105,925 shares during the quarter. Fisher Funds Management LTD's holdings in AT&T were worth $21,476,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in T. Brighton Jones LLC increased its stake in shares of AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after acquiring an additional 10,188 shares in the last quarter. Osterweis Capital Management Inc. lifted its position in AT&T by 4,352.9% during the 2nd quarter. Osterweis Capital Management Inc. now owns 6,234 shares of the technology company's stock valued at $180,000 after acquiring an additional 6,094 shares during the period. Main Street Financial Solutions LLC lifted its position in AT&T by 4.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 26,796 shares of the technology company's stock valued at $775,000 after acquiring an additional 1,022 shares during the period. HUB Investment Partners LLC boosted its stake in AT&T by 19.6% during the second quarter. HUB Investment Partners LLC now owns 55,730 shares of the technology company's stock worth $1,613,000 after acquiring an additional 9,115 shares in the last quarter. Finally, Peapack Gladstone Financial Corp boosted its stake in AT&T by 1.8% during the second quarter. Peapack Gladstone Financial Corp now owns 207,063 shares of the technology company's stock worth $5,992,000 after acquiring an additional 3,677 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on T shares. Citigroup raised their target price on shares of AT&T from $29.00 to $31.50 and gave the company a "buy" rating in a research note on Monday, March 23rd. KeyCorp boosted their price target on AT&T from $30.00 to $36.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 25th. Royal Bank Of Canada restated an "outperform" rating and issued a $31.00 price target on shares of AT&T in a research note on Wednesday, May 20th. Arete Research raised AT&T from a "sell" rating to a "neutral" rating and set a $28.00 price objective for the company in a research report on Tuesday, March 10th. Finally, Scotiabank reduced their price objective on AT&T from $31.50 to $31.00 and set a "sector perform" rating for the company in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.55.

AT&T News Summary

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

• Positive Sentiment: AT&T Fiber received strong validation in a new Opensignal report, earning 107 wins across speed, reliability, video, and consistency categories and outperforming competitors in many metro markets. This supports the company’s broadband growth story and may help sentiment around the fiber business. Article
• Neutral Sentiment: AT&T is getting increased investor attention, according to Zacks, but the note does not point to a specific new catalyst; it mainly reflects elevated interest in the name. Article
• Negative Sentiment: California asked a court and the FCC to block AT&T’s request to stop offering traditional copper-wire phone service to new customers, highlighting regulatory resistance to AT&T’s network transition plans. That could delay the company’s cost-cutting and modernization efforts. Article
• Negative Sentiment: Related reports say AT&T wants to cancel wireline phone service for about 199,000 people, but California’s pushback suggests this plan could face hurdles, adding uncertainty around the copper-network exit. Article

AT&T Stock Up 0.0%

NYSE:T opened at $22.02 on Monday. The firm has a market cap of $152.97 billion, a P/E ratio of 7.39, a P/E/G ratio of 0.92 and a beta of 0.21. 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 fifty-two week low of $21.99 and a fifty-two week high of $29.79. The firm has a 50-day simple moving average of $24.77 and a two-hundred day simple moving average of $25.75.

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

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Friday, April 10th. AT&T's payout ratio is presently 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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