Jennison Associates LLC Reduces Stake in AT&T Inc. $T

Key Points

• Jennison Associates LLC trimmed its AT&T stake by 1.3% in Q4, selling 49,028 shares and leaving it with 3,670,242 shares valued at about $91.17 million.
• AT&T topped quarterly estimates with $0.57 EPS (vs. $0.55 expected) and $31.51B revenue (up 2.9% YoY), set FY2026 guidance of $2.250–2.350 EPS, and declared a quarterly dividend of $0.2775 (annual $1.11, ~4.2% yield).
• Analysts are mildly positive—consensus is a Moderate Buy with a $30.55 target and several firms raising forecasts (e.g., KeyCorp to $36); the company is also expanding into cybersecurity and public‑safety services to support future growth.

Jennison Associates LLC reduced its position in AT&T Inc. (NYSE:T - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,670,242 shares of the technology company's stock after selling 49,028 shares during the period. Jennison Associates LLC owned approximately 0.05% of AT&T worth $91,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mountain Hill Investment Partners Corp. boosted its stake in shares of AT&T by 363.7% in the 3rd quarter. Mountain Hill Investment Partners Corp. now owns 895 shares of the technology company's stock worth $25,000 after buying an additional 702 shares during the last quarter. GGM Financials LLC purchased a new position in shares of AT&T in the 3rd quarter worth $25,000. Rachor Investment Advisory Services LLC purchased a new position in shares of AT&T in the 4th quarter worth $25,000. OFI Invest Asset Management boosted its stake in shares of AT&T by 84.2% in the 4th quarter. OFI Invest Asset Management now owns 1,087,055 shares of the technology company's stock worth $27,000 after buying an additional 496,804 shares during the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in shares of AT&T in the 4th quarter worth $29,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of AT&T stock opened at $26.18 on Friday. AT&T Inc. has a one year low of $22.95 and a one year high of $29.79. The stock's fifty day moving average is $27.52 and its 200 day moving average is $26.05. The stock has a market cap of $181.87 billion, a P/E ratio of 8.78, a P/E/G ratio of 0.95 and a beta of 0.34. 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 (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The technology company reported $0.57 EPS for the quarter, topping 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 company had revenue of $31.51 billion for the quarter, compared to analysts' expectations of $31.29 billion. During the same period last year, the firm earned $0.51 EPS. AT&T's revenue for the quarter was up 2.9% compared to the same quarter last year. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. Sell-side analysts anticipate that AT&T Inc. will post 2.31 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.2%. AT&T's dividend payout ratio (DPR) is currently 37.25%.

AT&T News Summary

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

• Positive Sentiment: Product/service expansion — AT&T launched Dynamic Defense cybersecurity for SMBs on AT&T Business Fiber and added RapidSOS HARMONY AI support on AT&T ESInet, positioning the company to sell higher‑margin, network-based security and public‑safety services beyond connectivity. This helps the growth outlook and cross‑sell potential to business customers. Article Link
• Positive Sentiment: Analyst upgrades — Erste Group nudged up its EPS forecasts (FY2026 to ~$2.31 and FY2027 to ~$2.56), showing modest analyst confidence in AT&T’s near‑term earnings power. Upward estimate revisions tend to support the stock and reduce haircut risk on valuation. Analyst Note
• Neutral Sentiment: Brand/SMB marketing push — AT&T opened submissions for its 2026 Small Business Contest (one $50k prize) to deepen small‑business relationships; useful for marketing and customer acquisition but unlikely to move near‑term revenue materially. Article Link
• Neutral Sentiment: Income stock narratives persist — Recent pieces comparing AT&T’s dividend yield to Verizon and historical dividend performance keep income investors focused on yield vs. growth tradeoffs; these stories can attract buyers but also reinforce valuation sensitivity. Fool Article Barchart Article
• Neutral Sentiment: Prepaid/network coverage pieces — Coverage of AT&T’s prepaid plans and mobile services is informational and may support subscriber sentiment but is unlikely to drive a material re‑rating on its own. Article Link
• Negative Sentiment: Valuation/performance caution — Coverage notes that AT&T shares “lag targets” despite new offerings, reflecting lingering investor concern about growth trajectory and how quickly new services will translate into meaningful EBITDA or margin expansion; that skepticism can cap upside until revenues and margins visibly improve. Article Link

Analysts Set New Price Targets

A number of research firms have recently issued reports on T. KeyCorp raised their price target on AT&T from $30.00 to $36.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 25th. Oppenheimer raised their target price on AT&T from $29.00 to $32.00 and gave the stock an "outperform" rating in a report on Wednesday, March 11th. UBS Group reaffirmed a "buy" rating on shares of AT&T in a report on Thursday, January 29th. Citigroup raised their target price on AT&T from $29.00 to $31.50 and gave the stock a "buy" rating in a report on Monday, March 23rd. Finally, Williams Trading set a $32.00 target price on AT&T in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.55.

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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