Pinnacle Associates Ltd. Has $9.25 Million Stake in AT&T Inc. $T

Pinnacle Associates Ltd. lowered its stake in shares of AT&T Inc. (NYSE:T) by 7.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 446,905 shares of the technology company’s stock after selling 35,061 shares during the period. Pinnacle Associates Ltd.’s holdings in AT&T were worth $9,251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of T. Rachor Investment Advisory Services LLC acquired a new stake in shares of AT&T in the 4th quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC bought a new position in AT&T during the 4th quarter worth approximately $25,000. Cresta Advisors Ltd. bought a new position in AT&T during the 4th quarter worth approximately $26,000. Blueline Advisors LLC acquired a new position in AT&T during the fourth quarter valued at approximately $26,000. Finally, Winnow Wealth LLC grew its holdings in AT&T by 362.8% during the fourth 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 during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of AT&T from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Oppenheimer lowered shares of AT&T from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 3rd. Sanford C. Bernstein restated an “outperform” rating and issued a $25.00 price objective on shares of AT&T in a research report on Monday, July 13th. Argus dropped their price objective on AT&T from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Finally, TD Cowen lifted 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 equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average price target of $29.19.

AT&T Stock Up 1.0%

AT&T stock opened at $24.94 on Wednesday. The company has a 50 day moving average of $22.71 and a 200-day moving average of $25.28. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 1.06. AT&T Inc. has a twelve month low of $19.89 and a twelve month high of $29.79. The stock has a market capitalization of $170.87 billion, a PE ratio of 8.26, a price-to-earnings-growth ratio of 1.01 and a beta of 0.23.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate 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 firm’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 EPS. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. On average, equities research analysts anticipate that AT&T Inc. will post 2.34 EPS for the current fiscal year.

AT&T Dividend Announcement

The company 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. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, July 10th. AT&T’s dividend 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.