Varma Mutual Pension Insurance Co Purchases New Holdings in AT&T Inc. $T

Key Points

• Varma Mutual Pension Insurance Co. acquired 1.23 million AT&T shares worth approximately $25.5 million during the second quarter. Institutional investors and hedge funds own 57.1% of AT&T’s outstanding stock.
• Analysts maintain a generally positive view, with AT&T holding a “Moderate Buy” consensus rating and an average price target of $29.19, despite some recent rating downgrades and target-price reductions.
• 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 also pays a quarterly dividend of $0.2775 per share, representing a 4.3% annualized yield.

Varma Mutual Pension Insurance Co acquired a new position in shares of AT&T Inc. (NYSE:T - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,230,860 shares of the technology company's stock, valued at approximately $25,479,000.

Several other large investors also recently added to or reduced their stakes in T. Norges Bank purchased a new position in shares of AT&T during the fourth quarter valued at $2,181,977,000. Amundi lifted its stake in 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. Alyeska Investment Group L.P. boosted its position in AT&T by 620.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 11,891,778 shares of the technology company's stock worth $295,392,000 after acquiring an additional 10,241,949 shares during the period. State Street Corp grew its stake in AT&T by 2.6% during the 4th quarter. State Street Corp now owns 332,089,723 shares of the technology company's stock valued at $8,249,109,000 after acquiring an additional 8,314,678 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in AT&T by 49.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 25,155,597 shares of the technology company's stock valued at $624,865,000 after acquiring an additional 8,297,201 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on T. Wall Street Zen upgraded shares of AT&T from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Wells Fargo & Company upped their price objective on shares of AT&T from $18.00 to $20.00 and gave the company an "underweight" rating in a research note on Thursday, July 23rd. The Goldman Sachs Group set a $30.00 target price on shares of AT&T in a research report on Wednesday, July 22nd. Argus decreased 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 note on Thursday, July 23rd. Finally, Oppenheimer cut shares of AT&T from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 3rd. 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 given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $29.19.

AT&T Stock Up 1.6%

T stock opened at $25.70 on Tuesday. 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 1 year low of $19.89 and a 1 year high of $29.79. The company has a fifty day simple moving average of $22.88 and a 200 day simple moving average of $25.26. The firm has a market cap of $176.13 billion, a PE ratio of 8.51, a PEG ratio of 1.03 and a beta of 0.23.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.65 EPS for the quarter, beating analysts' consensus estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 EPS. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. Sell-side analysts anticipate that AT&T Inc. will post 2.34 EPS for the current fiscal year.

AT&T Announces Dividend

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

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T - Free Report).

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