Elevation Point Wealth Partners LLC Invests $6.16 Million in AT&T Inc. $T

Elevation Point Wealth Partners LLC purchased a new position in AT&T Inc. (NYSE:T) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 297,682 shares of the technology company’s stock, valued at approximately $6,162,000.

Several other hedge funds also recently added to or reduced their stakes in T. Norges Bank acquired a new stake in AT&T during the fourth quarter valued at approximately $2,181,977,000. GQG Partners LLC bought a new stake in shares of AT&T in the 2nd quarter valued at approximately $1,223,364,000. Amundi raised its position in shares of AT&T by 67.5% during the 3rd quarter. Amundi now owns 42,295,492 shares of the technology company’s stock valued at $1,094,184,000 after acquiring an additional 17,040,328 shares in the last quarter. Alyeska Investment Group L.P. raised its position in shares of AT&T by 620.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 11,891,778 shares of the technology company’s stock valued at $295,392,000 after acquiring an additional 10,241,949 shares in the last quarter. Finally, State Street Corp lifted its stake in 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 purchasing an additional 8,314,678 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Up 0.3%

Shares of NYSE T opened at $25.77 on Wednesday. AT&T Inc. has a 12-month low of $19.89 and a 12-month high of $29.79. The company has a market cap of $176.55 billion, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of 1.05 and a beta of 0.23. 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 stock’s 50 day simple moving average is $22.93 and its 200 day simple moving average is $25.25.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.06. The firm 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 firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 EPS. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. Equities research analysts expect that AT&T Inc. will post 2.34 EPS for the current 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 dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, July 10th. AT&T’s dividend payout ratio (DPR) is 36.75%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings raised shares of AT&T from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. The Goldman Sachs Group set a $30.00 target price on shares of AT&T in a report on Wednesday, July 22nd. Scotiabank reduced their price target 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. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 price target for the company in a report on Thursday, July 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of AT&T from $18.00 to $20.00 and gave the company an “underweight” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.