Sumitomo Life Insurance Co. Invests $969,000 in AT&T Inc. $T

Sumitomo Life Insurance Co. purchased a new position in shares of AT&T Inc. (NYSE:T) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 46,822 shares of the technology company’s stock, valued at approximately $969,000.

A number of other large investors also recently modified their holdings of the business. State Street Corp grew its stake 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 purchasing an additional 8,314,678 shares in the last quarter. Bank of America Corp DE boosted its position in AT&T by 4.6% during the first quarter. Bank of America Corp DE now owns 125,191,700 shares of the technology company’s stock worth $3,629,307,000 after purchasing an additional 5,449,222 shares during the period. Norges Bank acquired a new position in AT&T in the 4th quarter valued at about $2,181,977,000. Bank of New York Mellon Corp grew its position in shares of AT&T by 3.5% in the second 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in AT&T by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 51,600,464 shares of the technology company’s stock valued at $1,281,756,000 after buying an additional 225,708 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of T stock opened at $25.70 on Tuesday. AT&T Inc. has a 52 week low of $19.89 and a 52 week high of $29.79. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 1.06. The company has a market cap of $176.13 billion, a price-to-earnings ratio of 8.51, a price-to-earnings-growth ratio of 1.03 and a beta of 0.23. The firm has a 50 day moving average of $22.88 and a 200-day moving average of $25.26.

AT&T (NYSE:T) last released 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 firm had revenue of $31.56 billion during the quarter, compared to the consensus estimate of $31.80 billion. AT&T had a return on equity of 12.86% and a net margin of 16.94%.The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 earnings per share. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. On average, equities analysts forecast that AT&T Inc. will post 2.34 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 36.75%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Argus decreased 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. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 price objective on the stock in a research note on Thursday, July 23rd. TD Cowen boosted their target price on shares of AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, July 23rd. The Goldman Sachs Group set a $30.00 price target on AT&T in a report on Wednesday, July 22nd. Finally, Barclays reduced their price objective on shares of AT&T from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $29.19.

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.