Canandaigua National Bank & Trust Co. Acquires New Stake in AT&T Inc. $T

Canandaigua National Bank & Trust Co. acquired a new stake in AT&T Inc. (NYSE:T) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 52,241 shares of the technology company’s stock, valued at approximately $1,081,000.

A number of other hedge funds have also modified their holdings of T. Vanguard Group Inc. increased its holdings in shares of AT&T by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 664,055,700 shares of the technology company’s stock worth $16,495,144,000 after buying an additional 3,585,661 shares during the last quarter. State Street Corp raised its position in AT&T by 2.6% in the fourth quarter. State Street Corp now owns 332,089,723 shares of the technology company’s stock valued at $8,249,109,000 after purchasing an additional 8,314,678 shares during the period. Bank of America Corp DE grew its stake in shares of AT&T by 4.6% in 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 in the last quarter. Norges Bank acquired a new position in AT&T during the 4th quarter worth about $2,181,977,000. Finally, Bank of New York Mellon Corp boosted its holdings in AT&T by 12.7% during the 1st quarter. Bank of New York Mellon Corp now owns 72,764,509 shares of the technology company’s stock valued at $2,109,443,000 after acquiring an additional 8,197,935 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T News Summary

Here are the key news stories impacting AT&T this week:

• Positive Sentiment: AT&T launched the amiGO Jr. Tab 2, an upgraded kid-focused tablet using AT&T’s 5G network. Priced at $4.99 per month for 36 months, the device could support customer engagement and reinforce AT&T’s family-oriented product lineup. AT&T amiGO Jr. Tab 2 announcement
• Neutral Sentiment: AT&T completed a sale of euro- and sterling-denominated global notes, increasing access to international debt markets and providing financing flexibility. However, the issuance also highlights the company’s ongoing leverage, with debt remaining an important consideration for investors. AT&T European debt issuance
• Negative Sentiment: SpaceX President Gwynne Shotwell said SpaceX plans to build ground-based infrastructure to complement Starlink’s satellite network. A fully integrated mobile service could eventually compete directly with AT&T for wireless customers, particularly in rural areas, dead zones and locations affected by network outages. SpaceX plans terrestrial mobile network
• Negative Sentiment: Telecom shares broadly moved lower after SpaceX outlined its mobile-network expansion. Investors are concerned that Starlink could pressure AT&T’s long-term customer retention, pricing power and wireless growth prospects. Telecom shares decline on SpaceX expansion
• Negative Sentiment: Analysts and investors are reassessing whether AT&T’s recent momentum can continue amid heightened SpaceX competition. The stock’s decline reflects near-term uncertainty despite its relatively inexpensive valuation and recent earnings performance. AT&T valuation and SpaceX competition analysis

Wall Street Analyst Weigh In

A number of analysts have recently 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. BNP Paribas Exane decreased their price objective on shares of AT&T from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Oppenheimer cut AT&T from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 3rd. Wells Fargo & Company boosted their price objective on shares of AT&T from $18.00 to $20.00 and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Finally, Argus dropped their price objective on AT&T from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.19.

AT&T Price Performance

AT&T stock opened at $23.07 on Thursday. The stock has a market capitalization of $158.06 billion, a P/E ratio of 7.64, a P/E/G ratio of 0.95 and a beta of 0.23. AT&T Inc. has a 12-month low of $19.89 and a 12-month high of $29.79. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.97 and a quick ratio of 0.93. The firm’s 50-day moving average is $22.58 and its two-hundred day moving average is $25.23.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 22nd. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.59 by $0.06. The firm had revenue of $31.56 billion during the quarter, compared to analyst estimates of $31.80 billion. AT&T had a return on equity of 12.86% and a net margin of 16.94%.The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 earnings per share. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. Equities analysts predict that AT&T Inc. will post 2.34 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $1.11 annualized dividend and a yield of 4.8%. AT&T’s dividend payout ratio is 36.75%.

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.