Handelsbanken Fonder AB Reduces Stake in AT&T Inc. $T

Key Points

• Handelsbanken Fonder AB trimmed its AT&T stake by 1.5% in the fourth quarter, selling 42,551 shares and leaving it with 2,834,607 shares valued at about $70.4 million.
• AT&T’s latest quarterly results topped expectations, with EPS of $0.57 versus the $0.55 consensus and revenue of $31.51 billion, up 2.9% year over year.
• Wall Street remains cautiously positive on AT&T, with a consensus rating of “Moderate Buy” and an average price target of $30.55, while the stock was recently trading at $24.44 and yielding 4.5% annually.

Handelsbanken Fonder AB lowered its holdings in AT&T Inc. (NYSE:T - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,834,607 shares of the technology company's stock after selling 42,551 shares during the quarter. Handelsbanken Fonder AB's holdings in AT&T were worth $70,412,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on T shares. Williams Trading set a $32.00 target price on AT&T in a research note on Thursday, January 29th. 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. Scotiabank lowered their target price on AT&T from $31.50 to $31.00 and set a "sector perform" rating for the company in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $33.00 target price on shares of AT&T in a research note on Thursday, January 29th. Finally, Citigroup raised their target price on AT&T from $29.00 to $31.50 and gave the company a "buy" rating in a research note on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.55.

AT&T Stock Up 1.7%

Shares of NYSE:T opened at $24.44 on Tuesday. The stock has a fifty day simple moving average of $26.86 and a two-hundred day simple moving average of $26.00. The stock has a market capitalization of $169.79 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 0.88 and a beta of 0.23. AT&T Inc. has a 12-month low of $22.95 and a 12-month high of $29.79. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 1.05.

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

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Friday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.5%. AT&T's payout ratio is presently 37.25%.

AT&T Company Profile

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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