BlackRock Fund Advisors recently announced the acquisition of new stake in AT&T, Inc. (NYSE:T). The institutional investor has increased its shareholding in the Communication Services company by 0.04% to 354.95 million shares with purchase of 0.14 million shares. This fresh investment now brings its stake to 4.96% valued currently at $5.96 billion. In addition, Newport Trust Co. raised its holdings by 0.67 million to 200.0 million shares. And Geode Capital Management LLC has lifted its position by 2.87% or 3.96 million shares – to 142.13 million shares.
Currently, there are 7.15B common shares owned by the public and among those 7.14B shares have been available to trade.
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Insiders at the company have transacted a total of 117 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 96 of these insider trades were purchases, accounting for 1,342,054 shares. Insider sales of the common stock occurred on 21 occasions, with total insider shares sold totaling 1,222,042 shares.
The top 3 mutual fund holders in AT&T, Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and SPDR S&P 500 ETF Trust. Vanguard Total Stock Market ETF owns 224.73 million shares of the company’s stock, all valued at over $3.77 billion. The company bought an additional 0.54 million shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard 500 Index Fund bought 0.36 million shares to see its total holdings expand to 174.61 million shares valued at over $2.93 billion and representing 2.44% of the shares outstanding. SPDR S&P 500 ETF Trust sold -0.48 million shares to bring its total holdings to over 87.59 million shares at a value of $1.47 billion. SPDR S&P 500 ETF Trust now owns shares totaling to 1.23% of the shares outstanding.
However, the script later moved the day high at 17.38, up 0.64%. The company’s stock has a 5-day price change of 3.72% and 13.82% over the past three months. T shares are trading 3.04% year to date (YTD), with the 12-month market performance down to -15.33% lower. It has a 12-month low price of $13.43 and touched a high of $20.50 over the same period. T has an average intraday trading volume of 37.28 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.67%, 4.30%, and 9.34% respectively.
Institutional ownership of AT&T, Inc. (NYSE: T) shares accounts for 56.22% of the company’s 7.15B shares outstanding. Mutual fund holders own 27.77%, while other institutional holders and individual stakeholders account for 28.67% and 0.35% respectively.
It has a market capitalization of $123.62B and a beta (3y monthly) value of 0.56. The stock’s trailing 12-month PE ratio is 8.81, while the earnings-per-share (ttm) stands at $1.96. The company has a PEG of 6.66 and a Quick Ratio of 0.67 with the debt-to-equity ratio at 1.50. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.24% over the week and 1.86% over the month.
Analysts forecast that AT&T, Inc. (T) will achieve an EPS of $0.5 for the current quarter, $0.54 for the next quarter and $2.14 for 2025. The lowest estimate earnings-per-share for the quarter is $0.46 while analysts give the company a high EPS estimate of $0.6. Comparatively, EPS for the current quarter was $0.6 a year ago. Earnings per share for the fiscal year are expected to decrease by -6.20%, and 2.24% over the next financial year. EPS should grow at an annualized rate of 1.32% over the next five years, compared to -7.26% over the past 5-year period.
Looking at the support for the T, a number of firms have released research notes about the stock. Oppenheimer stated their Outperform rating for the stock in a research note on January 19, 2024, with the firm’s price target at $21.
