Pinnacle Associates Ltd. Sells 35,061 Shares of AT&T Inc. $T

Pinnacle Associates Ltd. trimmed its position in shares of AT&T Inc. (NYSE:T) by 7.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 446,905 shares of the technology company’s stock after selling 35,061 shares during the quarter. Pinnacle Associates Ltd.’s holdings in AT&T were worth $9,251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Tsfg LLC raised its holdings in shares of AT&T by 3.6% in the fourth quarter. Tsfg LLC now owns 10,656 shares of the technology company’s stock valued at $265,000 after buying an additional 366 shares during the last quarter. Lifestyle Asset Management Inc. grew its holdings in AT&T by 3.6% during the 4th quarter. Lifestyle Asset Management Inc. now owns 10,511 shares of the technology company’s stock worth $261,000 after acquiring an additional 368 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings in AT&T by 1.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 31,970 shares of the technology company’s stock worth $794,000 after acquiring an additional 370 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in AT&T by 1.7% in the 4th quarter. Bruce G. Allen Investments LLC now owns 22,398 shares of the technology company’s stock valued at $556,000 after acquiring an additional 374 shares in the last quarter. Finally, Rockline Wealth Management LLC increased its position in AT&T by 3.8% in the 4th quarter. Rockline Wealth Management LLC now owns 10,445 shares of the technology company’s stock valued at $259,000 after acquiring an additional 378 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 1.0%

Shares of NYSE T opened at $24.94 on Wednesday. AT&T Inc. has a 1 year low of $19.89 and a 1 year high of $29.79. The firm’s 50-day moving average is $22.71 and its 200-day moving average is $25.28. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $170.87 billion, a PE ratio of 8.26, a price-to-earnings-growth ratio of 1.01 and a beta of 0.23.

AT&T (NYSE:T) last posted its quarterly 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 net margin of 16.94% and a return on equity of 12.86%. The business had revenue of $31.56 billion during the quarter, compared to the consensus estimate of $31.80 billion. During the same period in the previous year, the firm posted $0.54 earnings per share. AT&T’s revenue for the quarter was up 2.3% compared to the same quarter last year. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. Equities analysts expect 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. The ex-dividend date was Friday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. AT&T’s payout ratio is presently 36.75%.

Analyst Upgrades and Downgrades

T has been the topic of a number of research reports. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 target price on the stock in a research report on Thursday, July 23rd. The Goldman Sachs Group set a $30.00 price target on shares of AT&T in a report on Wednesday, July 22nd. Oppenheimer cut shares of AT&T from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 3rd. Barclays reduced their price objective 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. Finally, Scotiabank lowered their target price on AT&T from $31.00 to $29.25 and set a “sector perform” rating for the company in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target 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.