Spinnaker Trust Sells 53,623 Shares of AT&T Inc. $T

Key Points

• Spinnaker Trust cut its AT&T stake by 52.1% in the second quarter, selling 53,623 shares and retaining 49,234 shares valued at approximately $1.02 million. Other institutional investors largely increased their positions, and institutions collectively own 57.1% of AT&T.
• 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. The company maintains a quarterly dividend of $0.2775 per share, representing a 4.3% annualized yield.
• Analysts have a “Moderate Buy” consensus rating and an average price target of $29.19, compared with a recent share price near $26.03. Investors are also watching AT&T’s improving margins, fiber expansion and upcoming third-quarter 2026 results.

Spinnaker Trust lowered its stake in AT&T Inc. (NYSE:T - Free Report) by 52.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,234 shares of the technology company's stock after selling 53,623 shares during the period. Spinnaker Trust's holdings in AT&T were worth $1,019,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Delta Asset Management LLC TN raised its stake in shares of AT&T by 3.9% in the 2nd quarter. Delta Asset Management LLC TN now owns 133,029 shares of the technology company's stock valued at $2,754,000 after acquiring an additional 4,991 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in AT&T by 2.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,616,152 shares of the technology company's stock worth $1,151,254,000 after purchasing an additional 1,336,556 shares during the last quarter. Mufg Securities Americas Inc. boosted its position in AT&T by 8.1% during the second quarter. Mufg Securities Americas Inc. now owns 209,275 shares of the technology company's stock worth $4,332,000 after purchasing an additional 15,606 shares during the period. Van ECK Associates Corp boosted its position in AT&T by 10.7% during the second quarter. Van ECK Associates Corp now owns 554,945 shares of the technology company's stock worth $11,487,000 after purchasing an additional 53,796 shares during the period. Finally, Nissay Asset Management Corp Japan grew its holdings in AT&T by 1.9% during the second quarter. Nissay Asset Management Corp Japan now owns 943,340 shares of the technology company's stock valued at $19,527,000 after purchasing an additional 17,727 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

Key Stories Impacting AT&T

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

• Positive Sentiment: AT&T’s operating margin reportedly reached a multi-year high as the company winds down its copper network. Lower legacy-network costs and operating leverage could improve profitability and support cash generation. AT&T Stock's Margin Hit A Multi-Year Best As Its Copper Network Winds Down
• Positive Sentiment: Recent bullish investment analysis argues that AT&T’s turnaround has further upside, citing its discounted valuation, robust cash flows, fiber expansion, and growth in its Advanced Connectivity segment. Management’s target for 2026 EBITDA growth of 3%–4%, accelerating to more than 5% annually from 2028, strengthens the long-term case. AT&T Doesn't Need Heroic Results To Offer Heroic Upside
• Positive Sentiment: AT&T’s investment and partnership with Hark could position its network as an infrastructure provider for AI-native, always-connected consumer devices. The opportunity is early-stage but offers potential exposure to new connectivity demand beyond smartphones. Investors Reacting to AT&T Backing Hark’s AI-Native Device Ecosystem
• Neutral Sentiment: AT&T, T-Mobile, and Verizon are described as overcoming a shared competitive or regulatory challenge involving satellite-based connectivity. The development may ease concerns about satellite disruption, but the article provides limited detail on its direct financial impact. AT&T, T-Mobile, and Verizon Defeat a Common Foe
• Neutral Sentiment: AT&T will release third-quarter 2026 results before the market opens on October 21 and hold a conference call afterward. The announcement itself does not change fundamentals, but it gives investors a near-term catalyst to assess subscriber trends, fiber growth, margins, and guidance. AT&T to Release Third-Quarter 2026 Earnings on Oct. 21
• Neutral Sentiment: AT&T is promoting free Turbo Live access at select football season openers and selling season passes. The campaign could support brand engagement and customer acquisition, but its immediate financial contribution is likely limited. AT&T Kicks Off Football Season with Free Turbo Live

AT&T Stock Up 2.4%

NYSE T opened at $26.03 on Friday. The stock has a fifty day moving average of $23.15 and a 200-day moving average of $25.23. The stock has a market capitalization of $178.37 billion, a P/E ratio of 8.62, a price-to-earnings-growth ratio of 1.06 and a beta of 0.23. AT&T Inc. has a 52 week low of $19.89 and a 52 week high of $29.79. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.93 and a current ratio of 0.97.

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, beating the consensus estimate of $0.59 by $0.06. The business had revenue of $31.56 billion for the quarter, compared to analyst estimates 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 for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 earnings per share. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. On average, equities research analysts forecast that AT&T Inc. will post 2.34 EPS for the current year.

AT&T Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on T. TD Cowen lifted their price target on shares of AT&T from $32.00 to $33.00 and gave the company a "hold" rating in a research report on Thursday, July 23rd. Morgan Stanley upped their price objective on shares of AT&T from $25.00 to $27.00 and gave the stock an "overweight" rating in a report 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. Wall Street Zen upgraded shares of AT&T from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Finally, Argus cut their target price on shares of AT&T from $33.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and an average target price 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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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.

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