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

Jennison Associates LLC lessened its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 36.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,331,584 shares of the technology company's stock after selling 1,315,906 shares during the period. Jennison Associates LLC's holdings in AT&T were worth $48,264,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in T. Ranch Capital Advisors Inc. boosted its holdings in AT&T by 8.3% in the second quarter. Ranch Capital Advisors Inc. now owns 193,846 shares of the technology company's stock valued at $4,013,000 after purchasing an additional 14,849 shares in the last quarter. Belpointe Asset Management LLC increased its stake in AT&T by 2.7% in the second quarter. Belpointe Asset Management LLC now owns 138,183 shares of the technology company's stock valued at $2,860,000 after purchasing an additional 3,570 shares during the last quarter. Fortis Capital Advisors LLC raised its holdings in AT&T by 30.9% during the second quarter. Fortis Capital Advisors LLC now owns 18,992 shares of the technology company's stock worth $393,000 after purchasing an additional 4,478 shares in the last quarter. Daymark Wealth Partners LLC raised its holdings in AT&T by 12.5% during the second quarter. Daymark Wealth Partners LLC now owns 48,920 shares of the technology company's stock worth $1,013,000 after purchasing an additional 5,448 shares in the last quarter. Finally, Miller Howard Investments Inc. NY lifted its position in shares of AT&T by 0.7% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 286,386 shares of the technology company's stock worth $5,928,000 after buying an additional 1,964 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on T shares. The Goldman Sachs Group set a $30.00 target price on shares of AT&T in a report on Wednesday, July 22nd. Wolfe Research upgraded shares of AT&T from a "peer perform" rating to an "outperform" rating and set a $29.00 price target on the stock in a research note on Thursday, July 23rd. Barclays reduced their price target on shares of AT&T from $26.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 8th. TD Cowen upped their price objective on shares of AT&T from $32.00 to $33.00 and gave the company a "hold" rating in a research note on Thursday, July 23rd. Finally, Morgan Stanley raised their price objective on AT&T from $25.00 to $27.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $29.19.

AT&T Stock Down 0.6%

T stock opened at $24.75 on Tuesday. The stock has a market capitalization of $169.60 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 1.01 and a beta of 0.23. The company has a fifty day moving average of $22.66 and a 200-day moving average of $25.27. 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 $29.79.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.06. The business had revenue of $31.56 billion for the quarter, compared to analyst estimates of $31.80 billion. AT&T had a net margin of 16.94% and a return on equity of 12.86%. The business's revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 earnings per share. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. As a group, analysts expect that AT&T Inc. will post 2.34 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Friday, July 10th. AT&T's payout ratio is currently 36.75%.

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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