46,410,396 Shares in AT&T Inc. $T Purchased by Legal & General Group Plc

Legal & General Group Plc bought a new stake in AT&T Inc. (NYSE:T) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 46,410,396 shares of the technology company’s stock, valued at approximately $960,695,000.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on T shares. The Goldman Sachs Group set a $30.00 target price on AT&T in a research report on Wednesday, July 22nd. Argus dropped their target price on AT&T from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 price target for the company in a report on Thursday, July 23rd. Wells Fargo & Company increased their price objective on shares of AT&T from $18.00 to $20.00 and gave the company an “underweight” rating in a research report on Thursday, July 23rd. Finally, Barclays dropped their price objective on shares of AT&T from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.19.

AT&T Stock Performance

Shares of T opened at $25.88 on Thursday. The business’s fifty day moving average price is $23.00 and its 200 day moving average price is $25.24. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.97 and a quick ratio of 0.93. AT&T Inc. has a 12-month low of $19.89 and a 12-month high of $29.79. The stock has a market capitalization of $177.34 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 1.05 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 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $31.80 billion. During the same period in the previous year, the business posted $0.54 EPS. The company’s quarterly 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. Equities research analysts forecast that AT&T Inc. will post 2.34 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. AT&T’s payout ratio is 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.