Korea Investment CORP Invests $83.99 Million in AT&T Inc. $T

Key Points

• Korea Investment CORP purchased 4.06 million AT&T shares worth approximately $83.99 million in the second quarter, giving it a 0.06% stake. Institutional investors collectively own 57.1% of AT&T.
• AT&T’s latest quarterly earnings exceeded expectations, with adjusted EPS of $0.65 versus the $0.59 consensus estimate. Revenue rose 2.3% year over year to $31.56 billion, though it fell slightly short of forecasts.
• AT&T declared a quarterly dividend of $0.2775, equivalent to $1.11 annually and a 4.3% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $29.19.

Korea Investment CORP bought a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,057,495 shares of the technology company's stock, valued at approximately $83,990,000. Korea Investment CORP owned 0.06% of AT&T at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of T. State Street Corp grew its holdings in shares of AT&T by 2.6% in the 4th quarter. State Street Corp now owns 332,089,723 shares of the technology company's stock worth $8,249,109,000 after purchasing an additional 8,314,678 shares during the last quarter. Bank of America Corp DE increased its position in shares of AT&T by 4.6% during the 1st quarter. Bank of America Corp DE now owns 125,191,700 shares of the technology company's stock worth $3,629,307,000 after purchasing an additional 5,449,222 shares in the last quarter. Norges Bank bought a new position in AT&T during the 4th quarter valued at about $2,181,977,000. Bank of New York Mellon Corp lifted its holdings in AT&T by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 75,323,574 shares of the technology company's stock valued at $1,559,198,000 after purchasing an additional 2,559,065 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in AT&T by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 51,600,464 shares of the technology company's stock valued at $1,281,756,000 after buying an additional 225,708 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Up 1.6%

Shares of NYSE:T opened at $25.70 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 1.06. The firm has a market cap of $176.13 billion, a P/E ratio of 8.51, a P/E/G ratio of 1.03 and a beta of 0.23. AT&T Inc. has a 12 month low of $19.89 and a 12 month high of $29.79. The company's 50-day moving average price is $22.88 and its two-hundred day moving average price is $25.26.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. AT&T's dividend payout ratio (DPR) is currently 36.75%.

Analyst Ratings Changes

Several brokerages have weighed in on T. Wells Fargo & Company upped their price objective on shares of AT&T from $18.00 to $20.00 and gave the stock an "underweight" rating in a research note on Thursday, July 23rd. Weiss Ratings upgraded shares of AT&T from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 3rd. TD Cowen boosted their target price on AT&T from $32.00 to $33.00 and gave the stock a "hold" rating in a report on Thursday, July 23rd. The Goldman Sachs Group set a $30.00 price target on AT&T in a research report on Wednesday, July 22nd. Finally, Oppenheimer cut AT&T from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.19.

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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