Cullen Capital Management LLC Lowers Stock Position in AT&T Inc. $T

Cullen Capital Management LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,714,515 shares of the technology company’s stock after selling 106,114 shares during the quarter. AT&T accounts for about 1.6% of Cullen Capital Management LLC’s holdings, making the stock its 28th biggest holding. Cullen Capital Management LLC’s holdings in AT&T were worth $141,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in AT&T by 0.5% during the fourth 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 period. State Street Corp boosted its stake in AT&T by 0.8% during the third quarter. State Street Corp now owns 323,775,045 shares of the technology company’s stock worth $9,143,407,000 after buying an additional 2,704,536 shares during the period. Norges Bank purchased a new position in AT&T during the fourth quarter worth about $2,181,977,000. Capital Research Global Investors boosted its stake in AT&T by 0.6% during the third quarter. Capital Research Global Investors now owns 65,607,835 shares of the technology company’s stock worth $1,852,765,000 after buying an additional 370,455 shares during the period. Finally, Invesco Ltd. boosted its stake in AT&T by 8.6% during the third quarter. Invesco Ltd. now owns 57,823,362 shares of the technology company’s stock worth $1,632,932,000 after buying an additional 4,584,316 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 2.3%

Shares of T stock opened at $23.54 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.87 and a current ratio of 0.92. The stock has a market capitalization of $163.56 billion, a P/E ratio of 7.90, a price-to-earnings-growth ratio of 0.96 and a beta of 0.21. The company has a 50 day moving average price of $25.32 and a 200 day moving average price of $25.86. AT&T Inc. has a fifty-two week low of $22.32 and a fifty-two week high of $29.79.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 22nd. The technology company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. The firm had revenue of $31.51 billion during the quarter, compared to analysts’ expectations of $31.29 billion. AT&T had a net margin of 16.94% and a return on equity of 12.49%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 earnings per share. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. Equities research analysts predict that AT&T Inc. will post 2.31 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Friday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.7%. AT&T’s payout ratio is currently 37.25%.

Analyst Ratings Changes

Several research analysts have weighed in on T shares. Wall Street Zen lowered shares of AT&T from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Morgan Stanley initiated coverage on shares of AT&T in a report on Thursday, April 16th. They issued an “overweight” rating and a $30.00 price objective for the company. Weiss Ratings cut shares of AT&T from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 29th. KeyCorp lifted their price objective on shares of AT&T from $30.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, March 25th. Finally, Oppenheimer cut shares of AT&T from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.55.

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.