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

General American Investors Co. Inc. raised its stake in AT&T Inc. (NYSE:T) by 38.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,074,639 shares of the technology company’s stock after acquiring 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 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Heritage Family Offices LLP purchased a new position in shares of AT&T during the third quarter valued at about $213,000. Allegiance Financial Group Advisory Services LLC bought a new position in AT&T during the third quarter valued at approximately $221,000. Calamos Wealth Management LLC increased its stake in AT&T by 2.5% in the 3rd quarter. Calamos Wealth Management LLC now owns 37,795 shares of the technology company’s stock worth $922,000 after acquiring an additional 923 shares during the last quarter. Alta Advisers Ltd raised its holdings in shares of AT&T by 80.0% during the 3rd quarter. Alta Advisers Ltd now owns 49,359 shares of the technology company’s stock worth $1,204,000 after acquiring an additional 21,932 shares in the last quarter. Finally, Syverson Strege & Co raised its holdings in shares of AT&T by 3.4% during the 3rd quarter. Syverson Strege & Co now owns 37,240 shares of the technology company’s stock worth $909,000 after acquiring an additional 1,239 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on T shares. Barclays lowered their target price on AT&T from $24.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, October 22nd. JPMorgan Chase & Co. reduced their price target on shares of AT&T from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, October 22nd. Argus reaffirmed a “buy” rating and set a $30.00 price target on shares of AT&T in a research note on Thursday, October 22nd. Daiwa Securities Group lowered their price objective on shares of AT&T from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, July 23rd. Finally, Sanford C. Bernstein lowered shares of AT&T from an “outperform” rating to a “market perform” rating and set a $24.00 price objective for the company. in a research report on Tuesday, October 13th. Twelve research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

AT&T News Roundup

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 Trading Down 0.9%

NYSE T traded down $0.21 during trading hours on Friday, hitting $21.61. 40,034,569 shares of the company were exchanged, compared to its average volume of 57,463,700. AT&T Inc. has a 52 week low of $19.89 and a 52 week high of $29.43. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 1.22. The stock has a 50-day moving average price of $23.96 and a 200 day moving average price of $24.91. The stock has a market cap of $145.60 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.06 and a beta of 0.30.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Monday, October 12th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.1%. The ex-dividend date was Friday, October 9th. AT&T’s dividend payout ratio is presently 60.00%.

About AT&T

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.