Legal & General Group Plc Buys Shares of 46,410,396 AT&T Inc. $T

Legal & General Group Plc bought a new stake in AT&T Inc. (NYSE:T) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 46,410,396 shares of the technology company’s stock, valued at approximately $960,695,000. Legal & General Group Plc owned about 0.68% of AT&T at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of T. Norges Bank purchased a new position in shares of AT&T during the 4th quarter worth approximately $2,181,977,000. GQG Partners LLC purchased a new stake in AT&T in the second quarter valued at approximately $1,223,364,000. Amundi lifted its stake in 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 in the last quarter. Alyeska Investment Group L.P. lifted its stake in AT&T by 620.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 11,891,778 shares of the technology company’s stock worth $295,392,000 after purchasing an additional 10,241,949 shares in the last quarter. Finally, State Street Corp boosted its position in shares of AT&T by 2.6% during the fourth quarter. State Street Corp now owns 332,089,723 shares of the technology company’s stock worth $8,249,109,000 after buying an additional 8,314,678 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of AT&T stock opened at $25.88 on Thursday. The firm’s fifty day simple moving average is $23.00 and its 200-day simple moving average is $25.24. AT&T Inc. has a 12 month low of $19.89 and a 12 month high of $29.79. The stock has a market capitalization of $177.34 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 1.05 and a beta of 0.23. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.97 and a quick ratio of 0.93.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.06. The company had revenue of $31.56 billion for 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%. AT&T’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. As a group, equities analysts forecast that AT&T Inc. will post 2.34 earnings per share for the current year.

AT&T Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on T shares. The Goldman Sachs Group set a $30.00 target price on AT&T in a research report on Wednesday, July 22nd. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a research report on Thursday, July 23rd. Royal Bank Of Canada lowered their price objective on shares of AT&T from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Monday, July 20th. Wall Street Zen upgraded shares of AT&T from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Finally, TD Cowen upped their target price on shares of AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, July 23rd. One equities research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $29.19.

About AT&T

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.