Maloon Powers Pitre Higgins & Dennehy LLC Takes $2 Million Position in AT&T Inc. $T

Key Points

• Maloon Powers Pitre Higgins & Dennehy LLC purchased 96,427 AT&T shares in the second quarter, worth approximately $2.0 million. Institutional investors own 57.1% of the company, with several other funds also establishing new positions.
• AT&T reported quarterly EPS of $0.65, beating estimates of $0.59, while revenue rose 2.3% year over year to $31.56 billion but fell short of expectations.
• AT&T pays a quarterly dividend of $0.2775 per share, equivalent to an annualized $1.11 dividend and a 4.3% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $29.19.

Maloon Powers Pitre Higgins & Dennehy LLC purchased a new position in AT&T Inc. (NYSE:T - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 96,427 shares of the technology company's stock, valued at approximately $1,996,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of T. Markowski Investments bought a new stake in shares of AT&T in the 2nd quarter valued at approximately $181,000. Old Mission Investment Co LLC acquired a new stake in shares of AT&T during the 2nd quarter valued at approximately $436,000. Highland Investment Advisors LLC bought a new position in AT&T during the second quarter worth $55,000. Timbuktu Capital Management LLC bought a new position in AT&T during the second quarter worth $122,000. Finally, Munich Reinsurance Co Stock Corp in Munich acquired a new position in AT&T in the second quarter worth $12,231,000. 57.10% of the stock is owned by institutional investors.

AT&T Trading Down 1.9%

AT&T stock opened at $25.70 on Friday. AT&T Inc. has a 52-week low of $19.89 and a 52-week high of $29.79. 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 capitalization of $176.11 billion, a price-to-earnings ratio of 8.51, a PEG ratio of 1.30 and a beta of 0.25. The firm has a 50-day moving average price of $23.49 and a two-hundred day moving average price of $25.16.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.59 by $0.06. The company 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%. AT&T's revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business 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 year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend 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 Analysts Forecast Growth

Several research analysts have recently commented on the stock. The Goldman Sachs Group set a $30.00 price target on shares of AT&T in a report on Wednesday, July 22nd. Argus cut their target price on shares of AT&T from $33.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, July 23rd. Wolfe Research upgraded AT&T from a "peer perform" rating to an "outperform" rating and set a $29.00 target price for the company in a research note on Thursday, July 23rd. TD Cowen upped their target price on AT&T from $32.00 to $33.00 and gave the company a "hold" rating in a report on Thursday, July 23rd. Finally, Barclays dropped their price target 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 research 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $29.19.

AT&T 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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