AT&T (T)

• Market cap: $161B
• 1 day: 0.90%
• 5 days: 4.51%
• 1 month: -1.53%
• 3 months: 3.83%
• 6 months: 21.24%
• Year to date: -1.49%
• 1 year: 33.87%
• 5 years: -41.61%
• 10 years: -33.85%
• Sector: Communication Services
• Industry: Telephone Communications, Except Radiotelephone

About: The wireless business contributes about two thirds of AT&T's revenue. The firm is the third-largest US wireless carrier, connecting 72 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 16% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential fixed-line services, about 11% of revenue, primarily consist of broadband internet access, serving 14 million customers. AT&T also has a sizable presence in Mexico, with 22 million customers, but this business only accounts for 3% of revenue. The firm still holds a 70% equity stake in satellite television provider DirecTV but does not consolidate this business in its financial statements.

Employees: 160,700

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

57% more first-time investments, than exits

New positions opened: 203 | Existing positions closed: 129

54% more call options, than puts

Call options by funds: $1.34B | Put options by funds: $871M

14% more capital invested

Capital invested by funds: $84.2B [Q2] → $95.6B (+$11.4B) [Q3]

2% more funds holding in top 10

Funds holding in top 10: 49 [Q2] → 50 (+1) [Q3]

2% more funds holding

Funds holding: 2,357 [Q2] → 2,397 (+40) [Q3]

0.82% less ownership

Funds ownership: 61.21% [Q2] → 60.38% (-0.82%) [Q3]

16% less repeat investments, than reductions

Existing positions increased: 905 | Existing positions reduced: 1,075

Research analyst outlook

10 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $21 7% downside
• Avg. target: $27 18% upside
• High target: $30 33% upside

10 analyst ratings

• positive: 9 90%
• neutral: 1 10%
• negative: 0 0%

Argus Research Joseph Bonner 84% 1-year accuracy 16 / 19 met price target	20% upside $27	Buy Upgraded	16 Jan 2025
RBC Capital Jonathan Atkin 53% 1-year accuracy 10 / 19 met price target	16% upside $26	Outperform Upgraded	6 Jan 2025
UBS John Hodulik 67% 1-year accuracy 10 / 15 met price target	33% upside $30	Buy Maintained	19 Dec 2024
Goldman Sachs James Schneider 58% 1-year accuracy 21 / 36 met price target	25% upside $28	Buy Maintained	5 Dec 2024
Citigroup Michael Rollins 52% 1-year accuracy 12 / 23 met price target	25% upside $28	Buy Maintained	4 Dec 2024