Man Group plc Invests $83.51 Million in AT&T Inc. $T

Man Group plc bought a new position in shares of AT&T Inc. (NYSE:T – Free Report) in the second quarter, Holdings Channel reports. The firm bought 4,034,397 shares of the technology company’s stock, valued at approximately $83,512,000.

Several other hedge funds have also recently bought and sold shares of the business. State Street Corp grew its stake in AT&T by 2.6% during the fourth quarter. State Street Corp now owns 332,089,723 shares of the technology company’s stock worth $8,249,109,000 after buying an additional 8,314,678 shares during the period. Bank of America Corp DE lifted its holdings in shares of AT&T by 4.6% during the 1st quarter. Bank of America Corp DE now owns 125,191,700 shares of the technology company’s stock valued at $3,629,307,000 after acquiring an additional 5,449,222 shares in the last quarter. Norges Bank purchased a new stake in AT&T during the 4th quarter worth $2,181,977,000. Bank of New York Mellon Corp increased its holdings in AT&T by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 75,323,574 shares of the technology company’s stock valued at $1,559,198,000 after purchasing an additional 2,559,065 shares in the last quarter. Finally, GQG Partners LLC purchased a new position in AT&T in the second quarter valued at about $1,223,364,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

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AT&T Stock Performance

T stock opened at $25.88 on Thursday. The stock’s 50 day simple moving average is $23.00 and its 200 day simple moving average is $25.24. 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 $177.34 billion, a P/E ratio of 8.57, a P/E/G ratio of 1.05 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 released its earnings results on Wednesday, July 22nd. The technology company reported $0.65 earnings per share for the quarter, beating 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 firm had revenue of $31.56 billion during the quarter, compared to analyst estimates of $31.80 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The firm’s revenue for the quarter 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. 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. Shareholders of record on Friday, July 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. AT&T’s dividend payout ratio (DPR) is currently 36.75%.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent research reports. Wall Street Zen upgraded AT&T from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Barclays lowered their price objective 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. Argus reduced their target price 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. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $25.00 price target on shares of AT&T in a report on Monday, July 13th. Finally, Wells Fargo & Company boosted their price objective on shares of AT&T from $18.00 to $20.00 and gave the stock an “underweight” rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $29.19.

View Our Latest Report on T

AT&T Company Profile

(Free Report)

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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