The Manufacturers Life Insurance Company Invests $102.42 Million in AT&T Inc. $T

Key Points

• The Manufacturers Life Insurance Company acquired 4.95 million AT&T shares worth approximately $102.4 million in the second quarter, giving it a 0.07% stake. Institutional investors collectively own 57.1% of AT&T.
• Analysts maintain a generally positive view, with AT&T receiving a consensus “Moderate Buy” rating and an average price target of $29.19, despite several recent target reductions.
• AT&T exceeded quarterly earnings expectations with EPS of $0.65 versus $0.59 expected, while revenue rose 2.3% year over year to $31.56 billion. The company also pays a quarterly dividend of $0.2775 per share, representing a 4.3% annualized yield.

The Manufacturers Life Insurance Company acquired a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,947,640 shares of the technology company's stock, valued at approximately $102,416,000. The Manufacturers Life Insurance Company owned about 0.07% of AT&T at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. IFM Investors Pty Ltd raised its holdings in AT&T by 5.3% in the first quarter. IFM Investors Pty Ltd now owns 1,488,172 shares of the technology company's stock valued at $43,142,000 after acquiring an additional 74,684 shares in the last quarter. Parr Mcknight Wealth Management Group LLC acquired a new position in AT&T during the 1st quarter worth approximately $2,901,000. World Investment Advisors increased its position in shares of AT&T by 85.0% in the 4th quarter. World Investment Advisors now owns 338,942 shares of the technology company's stock valued at $8,419,000 after purchasing an additional 155,728 shares during the last quarter. Cerity Partners LLC increased its position in shares of AT&T by 3.7% in the 4th quarter. Cerity Partners LLC now owns 1,668,862 shares of the technology company's stock valued at $41,449,000 after purchasing an additional 59,279 shares during the last quarter. Finally, ING Groep NV increased its position in shares of AT&T by 120.3% in the 4th quarter. ING Groep NV now owns 2,050,310 shares of the technology company's stock valued at $50,930,000 after purchasing an additional 1,119,731 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on T shares. Royal Bank Of Canada cut their price target on AT&T from $31.00 to $27.00 and set an "outperform" rating on the stock in a research note on Monday, July 20th. Morgan Stanley boosted their target price on AT&T from $25.00 to $27.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Scotiabank dropped their price target on shares of AT&T from $31.00 to $29.25 and set a "sector perform" rating on the stock in a research note on Wednesday, July 15th. Argus cut their price objective 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. Finally, Wall Street Zen upgraded shares of AT&T from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. 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 given a Sell rating to the company. Based on data from MarketBeat, AT&T presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.19.

AT&T Trading Up 0.4%

NYSE T opened at $25.88 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.93 and a current ratio of 0.97. The firm has a market cap of $177.34 billion, a PE ratio of 8.57, a P/E/G ratio of 1.05 and a beta of 0.23. AT&T Inc. has a one year low of $19.89 and a one year high of $29.79. The firm's fifty day moving average is $23.00 and its two-hundred day moving average is $25.24.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The technology company reported $0.65 earnings per share 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 business had revenue of $31.56 billion during the quarter, compared to the consensus estimate of $31.80 billion. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The business'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. Analysts expect that AT&T Inc. will post 2.34 earnings per share for the current 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 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 dividend payout ratio is currently 36.75%.

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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