Korea Investment CORP acquired a new position in AT&T Inc. (NYSE:T – Free Report) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 4,057,495 shares of the technology company’s stock, valued at approximately $83,990,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of AT&T in the 4th quarter valued at about $2,181,977,000. Amundi raised its stake in shares of AT&T by 67.5% during the third quarter. Amundi now owns 42,295,492 shares of the technology company’s stock worth $1,094,184,000 after buying an additional 17,040,328 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in AT&T by 620.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 11,891,778 shares of the technology company’s stock valued at $295,392,000 after buying an additional 10,241,949 shares during the period. State Street Corp lifted its holdings in AT&T by 2.6% in the fourth quarter. State Street Corp now owns 332,089,723 shares of the technology company’s stock valued at $8,249,109,000 after buying an additional 8,314,678 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in AT&T by 49.2% in the fourth 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 during the last quarter. 57.10% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have commented on T. Barclays dropped their target price on shares of AT&T from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Royal Bank Of Canada reduced their price target on AT&T from $31.00 to $27.00 and set an “outperform” rating on the stock in a research report on Monday, July 20th. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 price objective for the company in a report on Thursday, July 23rd. Sanford C. Bernstein reissued an “outperform” rating and issued a $25.00 target price on shares of AT&T in a research note on Monday, July 13th. Finally, TD Cowen raised their target price on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.19.
AT&T Trading Up 1.6%
NYSE T opened at $25.70 on Tuesday. The firm has a market cap of $176.13 billion, a P/E ratio of 8.51, a P/E/G ratio of 1.03 and a beta of 0.23. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.97 and a quick ratio of 0.93. The stock’s 50-day moving average is $22.88 and its 200-day moving average is $25.26. AT&T Inc. has a one year low of $19.89 and a one year high of $29.79.
AT&T (NYSE:T – Get Free Report) last issued its quarterly earnings data 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. AT&T had a return on equity of 12.86% and a net margin of 16.94%.The business had revenue of $31.56 billion during the quarter, compared to analyst estimates of $31.80 billion. During the same period in the previous year, the firm earned $0.54 EPS. AT&T’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. Sell-side analysts anticipate that AT&T Inc. will post 2.34 earnings per share for the current fiscal year.
AT&T Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were given 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 4.3%. AT&T’s dividend payout ratio is currently 36.75%.
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.
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