L2 Asset Management LLC Purchases Shares of 40,441 AT&T Inc. $T

L2 Asset Management LLC purchased a new position in AT&T Inc. (NYSE:T) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 40,441 shares of the technology company’s stock, valued at approximately $837,000.

A number of other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after purchasing an additional 10,188 shares during the period. Osterweis Capital Management Inc. increased its holdings in AT&T by 4,352.9% during the 2nd quarter. Osterweis Capital Management Inc. now owns 6,234 shares of the technology company’s stock valued at $180,000 after purchasing an additional 6,094 shares during the period. Main Street Financial Solutions LLC increased its holdings in AT&T by 4.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 26,796 shares of the technology company’s stock valued at $775,000 after purchasing an additional 1,022 shares during the period. HUB Investment Partners LLC raised its position in AT&T by 19.6% during the 2nd quarter. HUB Investment Partners LLC now owns 55,730 shares of the technology company’s stock valued at $1,613,000 after purchasing an additional 9,115 shares during the last quarter. Finally, Peapack Gladstone Financial Corp raised its position in AT&T by 1.8% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 207,063 shares of the technology company’s stock valued at $5,992,000 after purchasing an additional 3,677 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.3%

NYSE:T opened at $25.77 on Wednesday. The firm’s 50-day moving average price is $22.93 and its 200-day moving average price is $25.25. The company has a market capitalization of $176.55 billion, a PE ratio of 8.53, a P/E/G ratio of 1.05 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. AT&T Inc. has a 1-year low of $19.89 and a 1-year high of $29.79.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.06. AT&T had a net margin of 16.94% and a return on equity of 12.86%. The company had revenue of $31.56 billion during the quarter, compared to analysts’ expectations of $31.80 billion. During the same period last year, the company posted $0.54 EPS. AT&T’s revenue was up 2.3% on a year-over-year basis. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. On average, equities analysts predict that AT&T Inc. will post 2.34 EPS for the current fiscal year.

AT&T Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on T shares. Scotiabank dropped their price objective on AT&T from $31.00 to $29.25 and set a “sector perform” rating for the company in a report on Wednesday, July 15th. Oppenheimer cut AT&T from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 3rd. Sanford C. Bernstein restated an “outperform” rating and set a $25.00 target price on shares of AT&T in a report on Monday, July 13th. Wells Fargo & Company raised their price target on AT&T from $18.00 to $20.00 and gave the stock an “underweight” rating in a research note on Thursday, July 23rd. Finally, Royal Bank Of Canada cut their price target on shares of AT&T from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Monday, July 20th. One equities research 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 data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.19.

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.