Pingora Partners LLC Buys New Position in AT&T Inc. $T

Pingora Partners LLC purchased a new position in AT&T Inc. (NYSE:T) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 130,225 shares of the technology company’s stock, valued at approximately $2,696,000. AT&T accounts for about 1.6% of Pingora Partners LLC’s portfolio, making the stock its 11th biggest position.

A number of other hedge funds have also added to or reduced their stakes in T. State Street Corp lifted its position in shares of AT&T by 2.6% in the 4th quarter. State Street Corp now owns 332,089,723 shares of the technology company’s stock worth $8,249,109,000 after purchasing an additional 8,314,678 shares during the period. Bank of America Corp DE increased its position in shares of AT&T by 4.6% during the first quarter. Bank of America Corp DE now owns 125,191,700 shares of the technology company’s stock valued at $3,629,307,000 after buying an additional 5,449,222 shares during the period. Norges Bank purchased a new position in shares of AT&T during the fourth quarter valued at about $2,181,977,000. Bank of New York Mellon Corp raised its stake in AT&T by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 75,323,574 shares of the technology company’s stock worth $1,559,198,000 after buying an additional 2,559,065 shares in the last quarter. Finally, GQG Partners LLC bought a new position in AT&T in the second quarter worth about $1,223,364,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of T stock opened at $25.88 on Thursday. The company has a market capitalization of $177.34 billion, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 1.05 and a beta of 0.23. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.93 and a current ratio of 0.97. AT&T Inc. has a one year low of $19.89 and a one year high of $29.79. The company’s 50-day moving average is $23.00 and its 200 day moving average is $25.24.

AT&T (NYSE:T) last issued its 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 business had revenue of $31.56 billion during the quarter, compared to analysts’ expectations of $31.80 billion. AT&T had a net margin of 16.94% and a return on equity of 12.86%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous 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 expect that AT&T Inc. will post 2.34 EPS for the current fiscal year.

AT&T Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on T shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $25.00 price objective on shares of AT&T in a research report on Monday, July 13th. Scotiabank decreased their target price on AT&T from $31.00 to $29.25 and set a “sector perform” rating for the company in a research report on Wednesday, July 15th. Oppenheimer cut AT&T from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 3rd. Barclays dropped their price target on AT&T from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 8th. Finally, TD Cowen upped their price target on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, July 23rd. One research 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’s stock. According to data from MarketBeat, the stock presently 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.