Fifth Third Bancorp Sells 120,529 Shares of AT&T Inc. $T

Fifth Third Bancorp lowered its holdings in AT&T Inc. (NYSE:T) by 4.3% during the second quarter, Holdings Channel.com reports. The firm owned 2,666,910 shares of the technology company’s stock after selling 120,529 shares during the period. Fifth Third Bancorp’s holdings in AT&T were worth $55,205,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in T. Vanguard Group Inc. raised its holdings in shares of AT&T by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 664,055,700 shares of the technology company’s stock valued at $16,495,144,000 after buying an additional 3,585,661 shares during the last quarter. State Street Corp grew its holdings in 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 acquiring an additional 8,314,678 shares during the last quarter. Bank of America Corp DE grew its holdings in AT&T by 4.6% during the 1st quarter. Bank of America Corp DE now owns 125,191,700 shares of the technology company’s stock worth $3,629,307,000 after acquiring an additional 5,449,222 shares during the last quarter. Norges Bank acquired a new stake in AT&T in the 4th quarter valued at about $2,181,977,000. Finally, Bank of New York Mellon Corp increased its position in AT&T by 12.7% in the 1st quarter. Bank of New York Mellon Corp now owns 72,764,509 shares of the technology company’s stock valued at $2,109,443,000 after acquiring an additional 8,197,935 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of a number of research analyst reports. Morgan Stanley boosted their target price on shares of AT&T from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Barclays lowered their price target on shares of AT&T from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. Wall Street Zen upgraded shares of AT&T from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. The Goldman Sachs Group set a $30.00 price objective on AT&T in a report on Wednesday, July 22nd. Finally, Scotiabank decreased their price objective on 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 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 issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.19.

AT&T Price Performance

Shares of T stock opened at $25.17 on Thursday. The firm has a market cap of $172.45 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 1.01 and a beta of 0.23. AT&T Inc. has a 12 month low of $19.89 and a 12 month high of $29.79. 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 stock has a 50-day moving average price of $22.75 and a 200 day moving average price of $25.28.

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

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, July 10th. AT&T’s payout ratio is 36.75%.

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.