WNY Asset Management LLC Takes Position in AT&T Inc. $T

Key Points

• WNY Asset Management purchased 162,625 AT&T shares during the second quarter, valued at approximately $3.37 million. Institutional investors collectively own 57.1% of the company.
• AT&T beat quarterly earnings expectations, reporting $0.65 in EPS versus the $0.59 consensus estimate, while revenue rose 2.3% year over year to $31.56 billion.
• The company pays a quarterly dividend of $0.2775 per share, equivalent to a 4.4% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $29.19.

WNY Asset Management LLC purchased a new position in AT&T Inc. (NYSE:T - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 162,625 shares of the technology company's stock, valued at approximately $3,366,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Safe Harbor Fiduciary LLC purchased a new stake in shares of AT&T in the 4th quarter valued at about $25,000. Cresta Advisors Ltd. purchased a new position in shares of AT&T during the fourth quarter worth about $26,000. Blueline Advisors LLC purchased a new position in shares of AT&T during the fourth quarter worth about $26,000. Winnow Wealth LLC increased its position in shares of AT&T by 362.8% in the fourth quarter. Winnow Wealth LLC now owns 1,046 shares of the technology company's stock worth $26,000 after purchasing an additional 820 shares during the last quarter. Finally, Addison Advisors LLC bought a new position in shares of AT&T in the second quarter worth approximately $27,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Performance

NYSE:T opened at $25.42 on Friday. The company has a market capitalization of $174.16 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 1.05 and a beta of 0.23. The business has a 50 day moving average of $23.06 and a 200 day moving average of $25.23. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.97 and a quick ratio of 0.93. AT&T Inc. has a 1-year low of $19.89 and a 1-year 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 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 analysts' expectations of $31.80 billion. AT&T had a net margin of 16.94% and a return on equity of 12.86%. The business's quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $0.54 earnings per share. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. On average, sell-side analysts predict that AT&T Inc. will post 2.34 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued 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 dividend yield of 4.4%. AT&T's dividend payout ratio (DPR) is currently 36.75%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Oppenheimer lowered shares of AT&T from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 3rd. Scotiabank decreased 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 report on Wednesday, July 15th. Argus lowered their price objective on shares of AT&T from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Royal Bank Of Canada dropped their price objective on shares of AT&T from $31.00 to $27.00 and set an "outperform" rating for the company in a report on Monday, July 20th. Finally, Weiss Ratings upgraded shares of AT&T from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 3rd. One investment 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 company's stock. According to MarketBeat, AT&T has a consensus rating of "Moderate Buy" and a consensus target price 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.

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