Shah Wealth Advisors LLC Makes New Investment in AT&T Inc. $T

Key Points

• Shah Wealth Advisors acquired 52,091 AT&T shares during the second quarter, valued at approximately $1.08 million. Institutional investors collectively own 57.1% of the company.
• AT&T reported quarterly earnings of $0.65 per share, beating estimates of $0.59, while revenue rose 2.3% year over year to $31.56 billion, slightly below forecasts.
• The company pays a quarterly dividend of $0.2775 per share, equal to a 4.3% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $29.19.

Shah Wealth Advisors LLC acquired a new stake in shares of AT&T Inc. (NYSE:T - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 52,091 shares of the technology company's stock, valued at approximately $1,078,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE bought a new position in AT&T in the second quarter worth $2,310,898,000. Norges Bank purchased a new position in AT&T during the fourth quarter valued at $2,181,977,000. GQG Partners LLC bought a new stake in shares of AT&T during the 2nd quarter valued at $1,223,364,000. Legal & General Group Plc purchased a new stake in shares of AT&T in the 2nd quarter worth about $960,695,000. Finally, Amundi increased its stake in shares of AT&T by 67.5% in the 3rd quarter. Amundi now owns 42,295,492 shares of the technology company's stock worth $1,094,184,000 after acquiring an additional 17,040,328 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Performance

T stock opened at $25.70 on Friday. The stock's 50 day simple moving average is $23.49 and its 200 day simple moving average is $25.16. The company has a current ratio of 0.97, a quick ratio of 0.93 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. The stock has a market capitalization of $176.11 billion, a PE ratio of 8.51, a price-to-earnings-growth ratio of 1.30 and a beta of 0.25.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The technology company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.06. AT&T had a return on equity of 12.86% and a net margin of 16.94%.The business had revenue of $31.56 billion during the quarter, compared to analyst estimates of $31.80 billion. During the same quarter last year, the company earned $0.54 EPS. The company'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. As a group, research analysts forecast that AT&T Inc. will post 2.34 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business 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 was Friday, July 10th. This represents a $1.11 annualized dividend and a yield of 4.3%. AT&T's dividend payout ratio is currently 36.75%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on T shares. 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 report on Thursday, July 23rd. The Goldman Sachs Group set a $30.00 target price on shares of AT&T in a report on Wednesday, July 22nd. TD Cowen upped their price target on AT&T from $32.00 to $33.00 and gave the stock a "hold" rating in a research note on Thursday, July 23rd. Scotiabank reduced their price objective on AT&T from $31.00 to $29.25 and set a "sector perform" rating for the company in a research report on Wednesday, July 15th. Finally, Wolfe Research upgraded AT&T from a "peer perform" rating to an "outperform" rating and set a $29.00 price objective for the company in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source