NewEdge Wealth LLC Sells 66,447 Shares of AT&T Inc. $T

Key Points

• NewEdge Wealth LLC reduced its AT&T stake by 41.6% in the first quarter, selling 66,447 shares and leaving it with 93,399 shares valued at about $2.71 million.
• AT&T posted better-than-expected Q2 earnings of $0.65 per share, boosted by strong wireless subscriber growth, while revenue rose 2.3% year over year to $31.56 billion.
• Several analysts turned more positive after the results, with Wolfe Research upgrading the stock and AT&T maintaining a consensus rating of Moderate Buy with a target price of $29.19.

NewEdge Wealth LLC cut its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 41.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,399 shares of the technology company's stock after selling 66,447 shares during the period. NewEdge Wealth LLC's holdings in AT&T were worth $2,708,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in T. Fairway Wealth LLC purchased a new position in AT&T during the 1st quarter valued at $29,000. Safe Harbor Fiduciary LLC bought a new position in AT&T in the 4th quarter worth $25,000. Rachor Investment Advisory Services LLC purchased a new stake in shares of AT&T in the 4th quarter worth about $25,000. Cresta Advisors Ltd. purchased a new stake in shares of AT&T in the 4th quarter worth about $26,000. Finally, Blueline Advisors LLC bought a new stake in shares of AT&T during the 4th quarter valued at about $26,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

More AT&T News

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

• Positive Sentiment: AT&T reported better-than-expected Q2 adjusted earnings of $0.65 per share, helped by strong wireless subscriber growth, reinforcing confidence in its core business. Stock Market Today, July 22: AT&T Beats Earnings on Strong Wireless Subscriber Growth
• Positive Sentiment: Wolfe Research upgraded AT&T after the earnings release, saying the stock looks attractive following the quarter and that fears around SpaceX competition may be overstated. Wolfe Research Just Upgraded AT&T Stock. Here's Why.
• Positive Sentiment: Analysts highlighted AT&T’s fiber-led growth path, with fiber, wireless convergence, and copper shutdowns supporting margin gains, buybacks, and an intact 2026 outlook. T Q2 Earnings Call Points to Fiber-Led Growth Path
• Neutral Sentiment: AT&T saw unusually heavy call-option buying, which suggests traders are positioning for further upside after the earnings-driven rally. Wolfe Research Just Upgraded AT&T Stock. Here's Why.
• Negative Sentiment: One headline about an AT&T internet outage could weigh on sentiment by reminding investors of service reliability risks, though it appears to be a limited operational issue. ATT internet outage for some. AT and T outage Thursday

Analysts Set New Price Targets

A number of research firms recently issued reports on T. Sanford C. Bernstein reissued an "outperform" rating and issued a $25.00 price target on shares of AT&T in a research note on Monday, July 13th. Argus cut their price objective on AT&T from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday. Barclays reduced their target price on AT&T from $26.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 8th. Wall Street Zen raised AT&T from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. Finally, Morgan Stanley raised their target price on AT&T from $25.00 to $27.00 and gave the company an "overweight" rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, AT&T currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.19.

AT&T Stock Performance

Shares of T stock opened at $24.05 on Friday. The company's fifty day moving average price is $22.79 and its 200-day moving average price is $25.23. The stock has a market cap of $164.83 billion, a PE ratio of 7.97, a price-to-earnings-growth ratio of 0.94 and a beta of 0.24. The company has a current ratio of 0.97, a quick ratio of 0.87 and a debt-to-equity ratio of 1.06. 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 issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $31.80 billion. During the same period last year, the business earned $0.54 EPS. AT&T's quarterly revenue was up 2.3% compared to the same quarter last year. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. On average, equities analysts expect that AT&T Inc. will post 2.34 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, July 10th. AT&T's dividend payout ratio is 36.75%.

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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