Fri Sep 20 12:10:41 UTC 2024: ## Pacer Advisors Increases Stake in AT&T, Institutional Investors Follow Suit

**New York, NY** – Pacer Advisors Inc. boosted its stake in AT&T Inc. (NYSE: T) by 2.5% during the second quarter, according to HoldingsChannel.com. The fund now owns 28,113,880 shares of AT&T, making it the firm’s third-largest holding, accounting for 1.2% of its portfolio. This move follows a trend of several other institutional investors and hedge funds also increasing their holdings in AT&T.

Vantage Financial Partners LLC, Gilbert & Cook Inc., Aveo Capital Partners LLC, Gryphon Financial Partners LLC, and Brown Advisory Inc. all reported increasing their stakes in AT&T during the fourth quarter. Overall, institutional investors and hedge funds now own 57.10% of AT&T’s stock.

This surge in institutional interest comes amidst positive analyst sentiment. Barclays, Deutsche Bank, TD Cowen, and BNP Paribas have recently raised their price targets on AT&T, with Barclays even issuing an “overweight” rating. While Scotiabank lowered its rating to “hold,” the overall consensus among analysts remains “Hold” with a target price of $22.31.

AT&T’s stock opened at $21.35 on Friday. The company’s stock has seen a 52-week low of $14.12 and a 52-week high of $22.34.

The company reported earnings of $0.57 per share for the second quarter, meeting analysts’ expectations. However, revenue came in slightly below estimates. AT&T’s quarterly revenue was down .3% compared to the same quarter last year. Analysts predict the company will post earnings of $2.2 per share for the current fiscal year.

AT&T also recently announced a quarterly dividend of $0.2775 per share, representing an annualized dividend of $1.11 and a yield of 5.20%.

AT&T Inc. provides telecommunications and technology services worldwide, operating through two segments: Communications and Latin America. The company offers wireless voice and data communications services, as well as sells handsets and other wireless devices.

**For more information on AT&T and other hedge fund holdings, visit HoldingsChannel.com.**

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