E. Ohman J or Asset Management AB cut its stake in shares of AT&T Inc. (NYSE:T – Free Report) by 81.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 311,315 shares of the technology company’s stock after selling 1,403,353 shares during the period. E. Ohman J or Asset Management AB’s holdings in AT&T were worth $6,444,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Rachor Investment Advisory Services LLC acquired a new position in AT&T in the fourth quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC purchased a new position in AT&T in the 4th quarter valued at $25,000. Cresta Advisors Ltd. acquired a new position in shares of AT&T during the fourth quarter worth about $26,000. Blueline Advisors LLC acquired a new stake in AT&T in the fourth quarter valued at about $26,000. Finally, Winnow Wealth LLC boosted its holdings in AT&T by 362.8% in the 4th quarter. Winnow Wealth LLC now owns 1,046 shares of the technology company’s stock valued at $26,000 after purchasing an additional 820 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have commented on T shares. Barclays decreased their target price on AT&T from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 8th. Wall Street Zen upgraded shares of AT&T from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. 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 research note on Monday, July 20th. TD Cowen lifted their price objective on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, July 23rd. Finally, Oppenheimer lowered AT&T from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.19.
AT&T Stock Performance
T stock opened at $24.07 on Tuesday. The stock’s 50 day simple moving average is $22.53 and its 200 day simple moving average is $25.23. AT&T Inc. has a 12-month low of $19.89 and a 12-month high of $29.79. The firm has a market cap of $164.94 billion, a P/E ratio of 7.97, a P/E/G ratio of 0.97 and a beta of 0.23. 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 (NYSE:T – Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $31.56 billion during the quarter, compared to the consensus estimate of $31.80 billion. AT&T had a net margin of 16.94% and a return on equity of 12.86%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. As a group, equities research analysts predict that AT&T Inc. will post 2.34 EPS for the current year.
AT&T Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, July 10th. AT&T’s dividend payout ratio (DPR) is 36.75%.
About AT&T
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.
Read More
- Five stocks we like better than AT&T
- SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat
- 3 Dividend Champion Utilities for a Market That Can’t Sit Still
- These 3 Most-Upgraded Stocks Have Almost Nothing to Do With AI
- First Solar’s Profit Engine Faces a New Policy Test in Washington
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).
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.
