Van ECK Associates Corp Buys 53,796 Shares of AT&T Inc. $T

Van ECK Associates Corp boosted its stake in shares of AT&T Inc. (NYSE:T) by 10.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 554,945 shares of the technology company’s stock after purchasing an additional 53,796 shares during the period. Van ECK Associates Corp’s holdings in AT&T were worth $11,487,000 as of its most recent filing with the SEC.

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

AT&T Stock Performance

NYSE:T opened at $25.92 on Tuesday. The stock has a market cap of $177.61 billion, a P/E ratio of 8.58, a PEG ratio of 1.06 and a beta of 0.23. The stock has a 50 day simple moving average of $23.22 and a 200 day simple moving average of $25.21. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 1-year low of $19.89 and a 1-year high of $29.79.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.06. The firm 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 revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. Research analysts anticipate that AT&T Inc. will post 2.34 earnings per share for the current year.

AT&T Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on T. Wells Fargo & Company increased their price target 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. The Goldman Sachs Group set a $30.00 price target on AT&T in a report on Wednesday, July 22nd. Royal Bank Of Canada lowered their price target on AT&T from $31.00 to $27.00 and set an “outperform” rating on the stock in a research report on Monday, July 20th. 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. Finally, Morgan Stanley raised their price objective on AT&T from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $29.19.

AT&T Company 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.