Public Employees Retirement System of Ohio Makes New $56.73 Million Investment in AT&T Inc. $T

Public Employees Retirement System of Ohio purchased a new position in AT&T Inc. (NYSE:T) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 2,740,790 shares of the technology company’s stock, valued at approximately $56,734,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE bought a new stake in shares of AT&T during the second quarter valued at approximately $2,310,898,000. Norges Bank acquired a new position in shares of AT&T during the fourth quarter worth $2,181,977,000. GQG Partners LLC acquired a new stake in AT&T in the second quarter worth about $1,223,364,000. Legal & General Group Plc purchased a new position in shares of AT&T in the second quarter worth $960,695,000. Finally, Amundi lifted its holdings in shares of AT&T by 67.5% during the third quarter. Amundi now owns 42,295,492 shares of the technology company’s stock worth $1,094,184,000 after purchasing an additional 17,040,328 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

T opened at $25.42 on Friday. The company has a market cap of $174.16 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 1.05 and a beta of 0.23. AT&T Inc. has a 52-week low of $19.89 and a 52-week high of $29.79. The firm’s fifty day simple moving average is $23.06 and its two-hundred day simple moving average is $25.23. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.65 earnings per share for the quarter, topping 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 net margin of 16.94% and a return on equity of 12.86%. AT&T’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 earnings per share. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. Equities analysts anticipate that AT&T Inc. will post 2.34 earnings per share for the current fiscal year.

AT&T Announces Dividend

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

Wall Street Analyst Weigh In

T has been the topic of several recent research reports. Argus dropped their price objective on shares of AT&T from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Barclays decreased their target price on shares of AT&T from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $25.00 price target on shares of AT&T in a research report on Monday, July 13th. Scotiabank reduced their price objective on AT&T from $31.00 to $29.25 and set a “sector perform” rating for the company in a research note on Wednesday, July 15th. Finally, Oppenheimer cut AT&T from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from 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.