Wellington Management Group LLP Sells 1,790,203 Shares of AT&T Inc. $T

Wellington Management Group LLP decreased its position in AT&T Inc. (NYSE:T) by 34.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,436,832 shares of the technology company’s stock after selling 1,790,203 shares during the period. Wellington Management Group LLP owned about 0.05% of AT&T worth $71,142,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp increased its position in shares of AT&T by 2.6% during the 4th quarter. State Street Corp now owns 332,089,723 shares of the technology company’s stock worth $8,249,109,000 after purchasing an additional 8,314,678 shares during the last quarter. Bank of America Corp DE increased its holdings 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 worth $3,629,307,000 after buying an additional 5,449,222 shares during the last quarter. Norges Bank acquired a new position in AT&T during the fourth quarter worth $2,181,977,000. Bank of New York Mellon Corp lifted its stake in AT&T by 3.5% in 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 acquiring an additional 2,559,065 shares during the last quarter. Finally, GQG Partners LLC acquired a new stake in AT&T in the second quarter valued at $1,223,364,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on T. TD Cowen upped their price objective on AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada dropped their price target on AT&T from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Monday, July 20th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $25.00 price objective on shares of AT&T in a research report on Monday, July 13th. Wells Fargo & Company upped their price objective on shares of AT&T from $18.00 to $20.00 and gave the company an “underweight” rating in a report on Thursday, July 23rd. Finally, Scotiabank dropped their price objective on shares of AT&T from $31.00 to $29.25 and set a “sector perform” rating on the stock in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average price target of $29.19.

AT&T Stock Performance

Shares of NYSE T opened at $25.98 on Thursday. 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 firm has a market cap of $178.03 billion, a price-to-earnings ratio of 8.60, a P/E/G ratio of 1.29 and a beta of 0.25. The stock’s fifty day moving average price is $23.36 and its two-hundred day moving average price is $25.17. AT&T Inc. has a one year low of $19.89 and a one year high of $29.79.

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

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, July 10th. AT&T’s dividend payout ratio is presently 36.75%.

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.