Maloon Powers Pitre Higgins & Dennehy LLC Acquires New Stake in AT&T Inc. $T

Maloon Powers Pitre Higgins & Dennehy LLC bought a new position in shares of AT&T Inc. (NYSE:T) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 96,427 shares of the technology company’s stock, valued at approximately $1,996,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd boosted its holdings in shares of AT&T by 5.3% in the first quarter. IFM Investors Pty Ltd now owns 1,488,172 shares of the technology company’s stock worth $43,142,000 after buying an additional 74,684 shares during the period. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of AT&T during the first quarter valued at approximately $2,901,000. World Investment Advisors lifted its position in shares of AT&T by 85.0% in the 4th quarter. World Investment Advisors now owns 338,942 shares of the technology company’s stock valued at $8,419,000 after acquiring an additional 155,728 shares in the last quarter. Cerity Partners LLC lifted its position in shares of AT&T by 3.7% in the 4th quarter. Cerity Partners LLC now owns 1,668,862 shares of the technology company’s stock valued at $41,449,000 after acquiring an additional 59,279 shares in the last quarter. Finally, ING Groep NV boosted its stake in AT&T by 120.3% in the 4th quarter. ING Groep NV now owns 2,050,310 shares of the technology company’s stock worth $50,930,000 after purchasing an additional 1,119,731 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on T. Wells Fargo & Company boosted their target price on shares of AT&T from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Thursday, July 23rd. Morgan Stanley raised their target price on AT&T from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Barclays lowered their price target on AT&T from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Sanford C. Bernstein reissued an “outperform” rating and issued a $25.00 price objective on shares of AT&T in a research note on Monday, July 13th. Finally, The Goldman Sachs Group set a $30.00 price objective on AT&T in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $29.19.

AT&T Stock Down 1.9%

T opened at $25.70 on Friday. AT&T Inc. has a fifty-two week low of $19.89 and a fifty-two week high of $29.79. The business has a 50-day moving average of $23.49 and a 200-day moving average of $25.16. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.97 and a quick ratio of 0.93. The company has a market capitalization of $176.11 billion, a PE ratio of 8.51, a price-to-earnings-growth ratio of 1.30 and a beta of 0.25.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.59 by $0.06. The business had revenue of $31.56 billion during the quarter, compared to analysts’ expectations of $31.80 billion. AT&T had a return on equity of 12.86% and a net margin of 16.94%.The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 EPS. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. Equities research analysts forecast 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 $0.2775 dividend. The ex-dividend date was Friday, July 10th. This represents a $1.11 dividend on an annualized basis and a 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.