General American Investors Co. Inc. Purchases 300,000 Shares of AT&T Inc. $T

General American Investors Co. Inc. increased its position in shares of AT&T Inc. (NYSE:T) by 38.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,074,639 shares of the technology company’s stock after purchasing an additional 300,000 shares during the period. AT&T makes up 1.5% of General American Investors Co. Inc.’s portfolio, making the stock its 23rd largest holding. General American Investors Co. Inc.’s holdings in AT&T were worth $26,221,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in AT&T in the second quarter worth about $26,000. Addison Advisors LLC bought a new position in shares of AT&T during the second quarter valued at approximately $27,000. Robinswood Financial LLC bought a new position in shares of AT&T during the first quarter valued at approximately $29,000. Matrix Trust Co grew its stake in shares of AT&T by 331.8% during the second quarter. Matrix Trust Co now owns 1,494 shares of the technology company’s stock valued at $31,000 after buying an additional 1,148 shares during the last quarter. Finally, North Point Portfolio Managers Corp OH purchased a new stake in shares of AT&T in the third quarter worth approximately $34,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 0.9%

T traded down $0.21 during trading on Friday, hitting $21.61. 40,034,569 shares of the stock were exchanged, compared to its average volume of 57,463,700. The firm has a 50 day simple moving average of $23.96 and a 200 day simple moving average of $24.91. The firm has a market cap of $145.60 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.06 and a beta of 0.30. AT&T Inc. has a 1 year low of $19.89 and a 1 year high of $29.43. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.82 and a current ratio of 0.87.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 21st. The technology company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. AT&T had a return on equity of 13.41% and a net margin of 10.19%. The business had revenue of $32.32 billion during the quarter, compared to analyst estimates of $31.69 billion. During the same period in the previous year, the company posted $0.54 EPS. AT&T’s revenue was up 5.2% on a year-over-year basis. As a group, equities analysts expect that AT&T Inc. will post 2.39 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Monday, October 12th were paid a dividend of $0.2775 per share. The ex-dividend date was Friday, October 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.1%. AT&T’s dividend payout ratio (DPR) is currently 60.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on AT&T from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, October 22nd. BNP Paribas Exane raised AT&T from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $26.00 to $30.00 in a research report on Monday, September 21st. Raymond James Financial cut their price objective on AT&T from $33.00 to $29.00 in a research report on Thursday, October 22nd. Moffett Nathanson decreased their target price on AT&T from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, September 22nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of AT&T in a research report on Friday, October 30th. Twelve research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

Key Stories Impacting AT&T

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

• Positive Sentiment: AT&T and AST SpaceMobile completed what AT&T describes as the first successful handoff between a terrestrial cellular network and a direct-to-device satellite connection using standard smartphones. The technology could eventually help extend coverage beyond traditional network reach, though the reports do not indicate near-term revenue impact. Article: Is AT&T Undervalued As Its Satellite Handoff Opens A New Coverage Question?
• Neutral Sentiment: AT&T plans to move all consumer-facing customer support to U.S.-based operations by 2027 and use AI to assist agents and automate routine inquiries. The change may improve service or align with policy trends, but its cost and financial effects are not specified. Article: AT&T Sets 2027 Deadline For All U.S. Based Consumer Support
• Negative Sentiment: A Zacks analysis says AT&T shares have fallen 11.8% over the past year, lagging the wireless industry and broader market benchmarks despite fiber and wireless growth. It cites rising debt and competitive pressures as concerns that could offset the stock’s valuation appeal. Article: AT&T Stock Falls 11.8% in a Year: Should You Buy the Dip?
• Negative Sentiment: A dividend-stock comparison puts Verizon’s yield at 6.1% and AT&T’s below that, which may make AT&T less appealing to investors focused mainly on income. Separately, an article on dividend safety notes that debt refinancing at higher rates can compete with cash available for dividends; the supplied summary does not specify AT&T’s individual risk assessment. Article: Better Dividend Stock: Verizon vs. AT&T

AT&T Profile

AT&T Inc (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.

The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.

AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.