802,036 AT&T Inc. $T Shares Sold by Aberdeen Group plc

Aberdeen Group plc reduced its position in AT&T Inc. (NYSE:T) by 15.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,538,067 shares of the technology company’s stock after selling 802,036 shares during the period. Aberdeen Group plc’s holdings in AT&T were worth $110,729,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of America Corp DE acquired a new stake in shares of AT&T in the second quarter valued at approximately $2,310,898,000. GQG Partners LLC purchased a new position in shares of AT&T during the second quarter worth approximately $1,223,364,000. Legal & General Group Plc purchased a new position in shares of AT&T during the second quarter worth approximately $960,695,000. State Street Corp grew its position in shares of AT&T by 5.8% during the second quarter. State Street Corp now owns 334,273,613 shares of the technology company’s stock worth $6,919,464,000 after acquiring an additional 18,468,679 shares during the last quarter. Finally, Nykredit A S acquired a new position in shares of AT&T in the 2nd quarter valued at $259,954,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Latest AT&T News

Here’s some of the latest news about T:

• Positive Sentiment: AT&T and AST SpaceMobile were highlighted for a historic satellite call, drawing attention to the potential of satellite-to-phone connectivity. The development could support AT&T’s effort to extend coverage, though the report provides no details on commercial timing or financial impact. Space Stocks Are Complex. York Sinks, AST and AT&T Make Historic Satellite Call.
• Neutral Sentiment: AT&T broke ground on a 54-acre global headquarters campus in Plano, Texas, including new fiber infrastructure. The project signals investment in its workforce and network capabilities, but also entails construction spending and is not an immediate earnings catalyst. AT&T Breaks Ground on New Global Headquarters
• Negative Sentiment: AT&T and Verizon plan to retire some copper landlines, prompting concerns among rural Texans who may rely on the service. The transition could bring customer, service-availability, and regulatory challenges. AT&T, Verizon Move to Retire Some Copper Landlines

AT&T Price Performance

Shares of T stock traded down $0.03 during midday trading on Friday, reaching $22.15. 50,495,549 shares of the company traded hands, compared to its average volume of 50,515,588. The firm’s 50 day simple moving average is $23.57 and its two-hundred day simple moving average is $24.88. The firm has a market cap of $149.23 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 1.10 and a beta of 0.30. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.87 and a quick ratio of 0.82. AT&T Inc. has a 1-year low of $19.89 and a 1-year high of $29.43.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 21st. The technology company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.60 by $0.05. AT&T had a net margin of 10.19% and a return on equity of 13.41%. The business had revenue of $32.32 billion for the quarter, compared to analyst estimates of $31.69 billion. During the same period in the previous year, the firm earned $0.54 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts expect that AT&T Inc. will post 2.40 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Monday, October 12th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Friday, October 9th. AT&T’s dividend payout ratio (DPR) is currently 60.00%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Daiwa Securities Group reduced their target price on shares of AT&T from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, July 23rd. Scotiabank lowered their price target on AT&T from $27.50 to $26.50 and set a “sector perform” rating on the stock in a report on Friday, October 9th. TD Cowen restated a “hold” rating and issued a $33.00 price target on shares of AT&T in a research report on Thursday, October 22nd. Royal Bank Of Canada reduced their price objective on AT&T from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Monday, July 20th. Finally, KeyCorp decreased their price objective on AT&T from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.56.

AT&T Company Profile

AT&T Inc. (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions. The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.