L2 Asset Management LLC Purchases New Shares in AT&T Inc. $T

Key Points

• L2 Asset Management purchased 40,441 AT&T shares during the second quarter, valued at approximately $837,000. Institutional investors collectively own 57.1% of the company.
• AT&T reported quarterly EPS of $0.65, exceeding analysts’ $0.59 estimate, while revenue rose 2.3% year over year to $31.56 billion, slightly below expectations.
• The company pays a quarterly dividend of $0.2775, equivalent to an annualized $1.11 payout and a 4.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $29.19.

L2 Asset Management LLC bought a new position in AT&T Inc. (NYSE:T - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 40,441 shares of the technology company's stock, valued at approximately $837,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after acquiring an additional 10,188 shares during the last quarter. Osterweis Capital Management Inc. lifted its position in shares of AT&T by 4,352.9% during the second quarter. Osterweis Capital Management Inc. now owns 6,234 shares of the technology company's stock worth $180,000 after acquiring an additional 6,094 shares in the last quarter. Main Street Financial Solutions LLC boosted its stake in 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 worth $775,000 after purchasing an additional 1,022 shares during the period. HUB Investment Partners LLC boosted its position in shares of AT&T by 19.6% in the second quarter. HUB Investment Partners LLC now owns 55,730 shares of the technology company's stock valued at $1,613,000 after acquiring an additional 9,115 shares during the period. Finally, Peapack Gladstone Financial Corp grew 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 valued at $5,992,000 after acquiring an additional 3,677 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 0.3%

Shares of NYSE T opened at $25.77 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 1.06. The business has a 50-day moving average of $22.93 and a 200-day moving average of $25.25. The firm has a market capitalization of $176.55 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 1.05 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.

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

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a $0.2775 dividend. The ex-dividend date was Friday, July 10th. This represents a $1.11 annualized dividend and a yield of 4.3%. AT&T's payout ratio is presently 36.75%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings raised shares of AT&T from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, August 3rd. TD Cowen raised their price target on shares of AT&T from $32.00 to $33.00 and gave the company a "hold" rating in a report on Thursday, July 23rd. Wells Fargo & Company boosted their price target on shares of AT&T from $18.00 to $20.00 and gave the company an "underweight" rating in a research report on Thursday, July 23rd. Royal Bank Of Canada decreased their price target on shares of AT&T from $31.00 to $27.00 and set an "outperform" rating on the stock in a report on Monday, July 20th. Finally, Barclays lowered their price objective on AT&T from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, AT&T currently has an average rating of "Moderate Buy" and an average price target of $29.19.

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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