Cullen Capital Management LLC Takes $118.45 Million Position in AT&T Inc. $T

Cullen Capital Management LLC bought a new position in AT&T Inc. (NYSE:T) during the second quarter, Holdings Channel reports. The fund bought 5,722,075 shares of the technology company’s stock, valued at approximately $118,447,000.

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

AT&T Price Performance

Shares of T stock opened at $25.77 on Wednesday. The firm’s 50 day moving average is $22.93 and its 200-day moving average is $25.25. 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 $176.55 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 1.05 and a beta of 0.23. AT&T Inc. has a 1 year low of $19.89 and a 1 year high of $29.79.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.06. The company had revenue of $31.56 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 earnings per share. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. Sell-side analysts forecast that AT&T Inc. will post 2.34 EPS for the current fiscal year.

AT&T Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Morgan Stanley lifted 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. Scotiabank cut their price objective on shares of 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. The Goldman Sachs Group set a $30.00 price target on shares of AT&T in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of AT&T from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. Finally, TD Cowen boosted their price target on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.19.

AT&T 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.