AT&T Inc. $T Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in shares of AT&T Inc. (NYSE:T) by 38.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 209,655 shares of the technology company’s stock after selling 130,234 shares during the quarter. Assenagon Asset Management S.A.’s holdings in AT&T were worth $6,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of AT&T by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 664,055,700 shares of the technology company’s stock valued at $16,495,144,000 after buying an additional 3,585,661 shares during the period. State Street Corp grew its stake in AT&T by 2.6% in the 4th quarter. State Street Corp now owns 332,089,723 shares of the technology company’s stock valued at $8,249,109,000 after acquiring an additional 8,314,678 shares during the period. Bank of America Corp DE grew its position in shares of AT&T by 3.5% in the fourth quarter. Bank of America Corp DE now owns 119,742,478 shares of the technology company’s stock valued at $2,974,403,000 after purchasing an additional 4,079,062 shares during the period. Norges Bank acquired a new stake in AT&T in the 4th quarter worth about $2,181,977,000. Finally, Capital Research Global Investors boosted its stake in shares of AT&T by 0.6% in the third quarter. Capital Research Global Investors now owns 65,607,835 shares of the technology company’s stock worth $1,852,765,000 after acquiring an additional 370,455 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Down 0.1%

Shares of NYSE T opened at $22.70 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 1.05. The business’s 50 day moving average is $24.42 and its two-hundred day moving average is $25.65. AT&T Inc. has a 52-week low of $21.99 and a 52-week high of $29.79. The firm has a market cap of $157.71 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 0.92 and a beta of 0.21.

AT&T (NYSE:T) last released its quarterly earnings results 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 business had revenue of $31.51 billion during the quarter, compared to analyst estimates of $31.29 billion. During the same period last year, the business posted $0.51 earnings per share. The company’s quarterly 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. Research analysts predict that AT&T Inc. will post 2.31 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Friday, July 10th. AT&T’s dividend payout ratio (DPR) is 37.25%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on T. Wall Street Zen raised shares of AT&T from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. KeyCorp lifted their target price on AT&T from $30.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, March 25th. Weiss Ratings downgraded AT&T from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 29th. Arete Research upgraded shares of AT&T from a “sell” rating to a “neutral” rating and set a $28.00 price objective on the stock in a report on Tuesday, March 10th. Finally, Scotiabank decreased their target price on shares of AT&T from $31.50 to $31.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, AT&T presently has an average 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.