Geode Capital Management LLC Sells 2,968,463 Shares of AT&T Inc. $T

Geode Capital Management LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,003,772 shares of the technology company’s stock after selling 2,968,463 shares during the period. Geode Capital Management LLC owned about 2.41% of AT&T worth $4,235,476,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. GGM Financials LLC bought a new stake in AT&T in the 3rd quarter valued at about $25,000. Rachor Investment Advisory Services LLC bought a new stake in AT&T in the 4th quarter valued at about $25,000. Cresta Advisors Ltd. bought a new stake in AT&T in the 4th quarter valued at about $26,000. OFI Invest Asset Management raised its stake in AT&T by 84.2% in the 4th quarter. OFI Invest Asset Management now owns 1,087,055 shares of the technology company’s stock valued at $27,000 after acquiring an additional 496,804 shares during the period. Finally, Eagle Bay Advisors LLC bought a new stake in AT&T in the 4th quarter valued at about $29,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Down 0.4%

Shares of NYSE T opened at $24.92 on Thursday. AT&T Inc. has a 12 month low of $22.95 and a 12 month high of $29.79. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $173.18 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 0.91 and a beta of 0.23. The business has a 50-day moving average of $26.50 and a 200-day moving average of $26.02.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 22nd. The technology company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.55 by $0.02. AT&T had a return on equity of 12.49% and a net margin of 16.94%.The company had revenue of $31.51 billion during the quarter, compared to analyst estimates of $31.29 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. AT&T’s revenue was up 2.9% on a year-over-year basis. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. Sell-side analysts expect that AT&T Inc. will post 2.31 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, April 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. AT&T’s payout ratio is presently 37.25%.

Wall Street Analysts Forecast Growth

T has been the topic of a number of research reports. KeyCorp boosted their price objective on AT&T from $30.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, March 25th. Morgan Stanley initiated coverage on AT&T in a research note on Thursday, April 16th. They issued an “overweight” rating and a $30.00 price objective on the stock. Scotiabank lowered their price objective on AT&T from $31.50 to $31.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $33.00 price objective on shares of AT&T in a research note on Thursday, January 29th. Finally, Arete Research upgraded AT&T from a “sell” rating to a “neutral” rating and set a $28.00 price objective on the stock in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.55.

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.