3,091,050 Shares in AT&T Inc. $T Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of AT&T Inc. (NYSE:T) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,091,050 shares of the technology company’s stock, valued at approximately $63,985,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in T. California State Teachers Retirement System increased its stake in AT&T by 1,920.3% during the 2nd quarter. California State Teachers Retirement System now owns 221,126,798 shares of the technology company’s stock worth $4,577,325,000 after buying an additional 210,181,579 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of AT&T in the second quarter worth approximately $2,310,898,000. Norges Bank acquired a new stake in shares of AT&T in the fourth quarter worth approximately $2,181,977,000. GQG Partners LLC purchased a new stake in shares of AT&T during the second quarter worth approximately $1,223,364,000. Finally, Legal & General Group Plc acquired a new position in AT&T in the 2nd quarter valued at $960,695,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 0.1%

Shares of NYSE:T opened at $25.70 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 1.06. The business has a fifty day moving average of $23.49 and a two-hundred day moving average of $25.13. The stock has a market cap of $176.11 billion, a P/E ratio of 8.51, a PEG ratio of 1.27 and a beta of 0.25. AT&T Inc. has a 52-week low of $19.89 and a 52-week high of $29.79.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.59 by $0.06. The business had revenue of $31.56 billion for the quarter, compared to analyst estimates of $31.80 billion. AT&T had a return on equity of 12.86% and a net margin of 16.94%.The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 EPS. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. On average, research analysts expect that AT&T Inc. will post 2.34 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend 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%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on T shares. The Goldman Sachs Group set a $30.00 target price on shares of AT&T in a research note on Wednesday, July 22nd. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a research note on Thursday, July 23rd. Scotiabank decreased their price target on shares of AT&T from $31.00 to $29.25 and set a “sector perform” rating on the stock in a research note on Wednesday, July 15th. Sanford C. Bernstein restated an “outperform” rating and set a $25.00 price target on shares of AT&T in a research report on Monday, July 13th. Finally, Weiss Ratings raised shares of AT&T from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $29.19.

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.