AT&T Inc. $T Stock: Russell Investments Group Ltd. Trims Stake

Russell Investments Group Ltd. reduced its stake in shares of AT&T Inc. (NYSE:T) by 7.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,699,956 shares of the technology company’s stock after selling 752,150 shares during the period. Russell Investments Group Ltd. owned about 0.14% of AT&T worth $236,747,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in T. State Street Corp grew its stake in AT&T by 5.8% in the second quarter. State Street Corp now owns 334,273,613 shares of the technology company’s stock worth $6,919,464,000 after purchasing an additional 18,468,679 shares in the last quarter. Bank of America Corp DE raised its stake 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 valued at $3,629,307,000 after buying an additional 5,449,222 shares in the last quarter. Bank of New York Mellon Corp raised its stake in AT&T by 3.5% during 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 buying an additional 2,559,065 shares in the last quarter. GQG Partners LLC bought a new position in AT&T during the 2nd quarter worth approximately $1,223,364,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in AT&T by 2.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,616,152 shares of the technology company’s stock worth $1,151,254,000 after buying an additional 1,336,556 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting AT&T

Investors following T have been watching these stories:

• Positive Sentiment: AT&T broke ground on a 54-acre global headquarters campus in Plano, a long-term investment that will use the company’s fiber and 5G infrastructure and consolidate employees from across the Dallas–Fort Worth area. AT&T Breaks Ground on New Global Headquarters
• Positive Sentiment: Reports that AT&T and Verizon could offer satellite coverage before 2027 point to a potential new way to extend service reach, though details and commercial impact remain uncertain. AT&T and Verizon satellite coverage could arrive before 2027
• Negative Sentiment: AT&T’s roughly 5.2% dividend yield faces competition from a 10-year Treasury yield around 5%, while General Mills’ yield is reported to be higher. That may limit the stock’s appeal to income-focused investors. Better High-Yield Dividend Stock: AT&T vs. General Mills

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Arete Research lowered their price target on AT&T from $28.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, October 1st. BNP Paribas Exane upgraded AT&T from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $26.00 to $30.00 in a research note on Monday, September 21st. Royal Bank Of Canada decreased their price objective on shares of AT&T from $31.00 to $27.00 and set an “outperform” rating for the company in a report on Monday, July 20th. KeyCorp decreased their price objective on shares of AT&T from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, October 22nd. Finally, Argus reiterated a “buy” rating and set a $30.00 target price on shares of AT&T in a research note on Thursday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating, nine 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

AT&T Stock Performance

Shares of NYSE T opened at $22.16 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 1.22. The firm’s 50-day moving average price is $23.65 and its two-hundred day moving average price is $24.88. AT&T Inc. has a 52-week low of $19.89 and a 52-week high of $29.43. The stock has a market capitalization of $149.31 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.10 and a beta of 0.30.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 21st. The technology company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. The company had revenue of $32.32 billion during the quarter, compared to the consensus estimate of $31.69 billion. AT&T had a return on equity of 13.41% and a net margin of 10.19%. AT&T’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 earnings per share. As a group, sell-side analysts forecast that AT&T Inc. will post 2.40 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Monday, October 12th were given a dividend of $0.2775 per share. The ex-dividend date was Friday, October 9th. This represents a $1.11 dividend on an annualized basis and a yield of 5.0%. AT&T’s payout ratio is currently 60.00%.

AT&T Company Profile

AT&T Inc. (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions. The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.