Perennial Investment Advisors LLC Purchases Shares of 34,511 AT&T Inc. $T

Perennial Investment Advisors LLC acquired a new position in AT&T Inc. (NYSE:T) in the second quarter, HoldingsChannel reports. The firm acquired 34,511 shares of the technology company’s stock, valued at approximately $714,000.

Several other institutional investors and hedge funds also recently made changes to their positions in T. Bank of America Corp DE purchased a new position in shares of AT&T in the second quarter worth about $2,310,898,000. Norges Bank purchased a new position in AT&T in the 4th quarter worth approximately $2,181,977,000. GQG Partners LLC purchased a new stake in shares of AT&T during the second quarter valued at approximately $1,223,364,000. Legal & General Group Plc purchased a new position in shares of AT&T in the second quarter worth $960,695,000. Finally, Amundi raised its holdings in AT&T by 67.5% during the 3rd quarter. Amundi now owns 42,295,492 shares of the technology company’s stock valued at $1,094,184,000 after buying an additional 17,040,328 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on AT&T from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Wells Fargo & Company raised their price target on AT&T from $18.00 to $20.00 and gave the company an “underweight” rating in a report on Thursday, July 23rd. 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 report 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, Sanford C. Bernstein reiterated an “outperform” rating and issued a $25.00 price objective on shares of AT&T in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.19.

AT&T Trading Up 0.4%

Shares of AT&T stock opened at $25.88 on Thursday. AT&T Inc. has a fifty-two week low of $19.89 and a fifty-two week high of $29.79. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.93 and a current ratio of 0.97. The company has a market capitalization 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 fifty day moving average of $23.00 and a 200 day moving average of $25.24.

AT&T (NYSE:T) last announced 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 for the quarter, compared to the consensus estimate of $31.80 billion. During the same period in the previous year, the firm posted $0.54 EPS. AT&T’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. On average, 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 announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Friday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. AT&T’s payout ratio is 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.