T
AT&T Inc.Evidence as of 2026-09-10The desk's Snapshot
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Overview · AT&T Inc.
AT&T Inc. provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.…
Management team
- Ms. Lori M. Lee · Global Marketing Officer and Senior EVP of International & Human ResourcesFind on LinkedIn
- Mr. David R. McAtee II · Senior EVP & General CounselFind on LinkedIn
- Mr. Jeffery Scott McElfresh · Chief Operating OfficerFind on LinkedIn
- Mr. Pascal Desroches CPA · Senior EVP & CFOFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
+0.0 on a −2 to +2 scale (was −0.0 before the debate changed the read).
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
The evidence balance is mixed with high confidence and no net tilt. Reported revenues were roughly stable across the quarters shown at about 30,626,000,000 and 30,847,000,000 for the two three‑month periods reported, while consolidated operating revenues for FY 2025 totaled 125,648,000,000 versus 122,336,000,000 in FY 2024 (a 2.7% increase) and AT&T operating income rose to 24,162,000,000 in FY 2025 from 19,049,000,000 in FY 2024 (a 26.8% increase).
Operating income in the sample rose from 5,754,000,000 in the earlier three‑month point to 7,038,000,000 in the later three‑month point, and net income showed variability with a high of 9,314,000,000 for the period ending 2025-09-30 versus 4,627,000,000 for the period ending 2026-06-30. Share counts have declined across filings to 6,852,385,650 as of 2026-07-16, cash and cash equivalents have fluctuated between 6,885,000,000 and 20,272,000,000 at reported points, and trailing valuation metrics show P/E = 8.09, price-to-FFCF = 14.86, and a modeled implied FCF growth rate of 0.0196. The trailing twelve‑month dividend yield is 5.74% and ranks in the 96th percentile of the 548‑stock research universe.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Reported revenues were roughly stable in the quarters shown: 30,626,000,000 for the period 2025-01-01 to 2025-03-31 (3mo).
XBRL companyfacts · 0000732717-26-000206Reported revenues were 30,847,000,000 for the period 2025-04-01 to 2025-06-30 (3mo).
XBRL companyfacts · 0000732717-26-000297Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
The 10-K filed 9 February 2026 added a risk saying "Recent spending by hyperscalers and others to support AI is beginning to pressure supply chains for goods such as semiconductors and other network components" and that "Inflationary and supply pressures may continue into the future and could have an adverse impact on our ability to source materials."
Item 1A risk-factor diff · 0000732717-26-000120 vs 0000732717-25-000013The 10-K filed 9 February 2026 added a risk noting that attempts to offset cost and supply pressures "such as through increases in the selling prices of some of our products and services, may not be successful" and that higher prices "may result in reductions in sales volume or increases in subscriber churn."
Item 1A risk-factor diff · 0000732717-26-000120 vs 0000732717-25-000013Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
The trailing twelve-month dividend yield is +5.74% and ranks in the 96th percentile of the 548-stock research universe, indicating a very high yield versus peers.
Moneyta signal set · 2026-09-09Three-year dividend growth is +9.2%, showing multi-year dividend increases in the recent three-year window.
Moneyta signal set · 2026-09-09Reads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
Institutional 13F-reported holdings in the company totaled $133.54B as of the quarter ended 2026-03-31 (13F filings carry a 45-day reporting lag).
13F holdings · 2954 filers · as of 2026-03-31Top reported institutional holders in the 2026-03-31 13F include BlackRock, Inc. at $16.26B and VANGUARD CAPITAL MANAGEMENT LLC at $13.18B, with a reported holder count of 2,954 and a reported quarter-over-quarter aggregate value change of 16.5%.
13F holdings · 2954 filers · as of 2026-03-31Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
At a Goldman Sachs conference, AT&T Chairman and CEO John Stankey described the company strategy as focused on expanding fiber infrastructure, strengthening its wireless network and combining the two services to drive customer growth and lower churn.
News · finance.yahoo.com · 2026-09-09AT&T elected Fazal F. Merchant to its board of directors, effective Sept. 8, and said he will serve on the Audit Committee and the Corporate Development and Finance Committee.
News · prnewswire.com · 2026-09-09Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
Jeffery S. McElfresh (Chief Operating Officer) reported open-market acquisitions totaling $377k for 13,018.28 shares on 2026-03-31 (code A).
Form 4 · McElfresh Jeffery S. (Chief Operating Officer) · $377k code A · 2026-03-31Jeffery S. McElfresh (Chief Operating Officer) reported additional open-market acquisitions of $58k for 2,236.35 shares on 2026-04-30 (code A) and $63k for 2,690.053 shares on 2026-07-31 (code A).
Form 4 · McElfresh Jeffery S. (Chief Operating Officer) · $58k code A · 2026-04-30Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The modelled implied free cash flow (FCF) growth rate that today's price would justify is 1.96% (0.0196).
Valuation inputs · SEC XBRL + stored EOD closePrice-to-FFCF (price_to_fcf) is 14.86 based on the trailing twelve-month FCF of $11,759,000,000 and the stated price.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
Several claims jointly support a favorable read: trailing valuation and cash-flow multiples (valuation-1, valuation-2, valuation-3) show comparatively low price multiples versus reported free cash flow, earnings and EBITDA (moderate–strong evidence), while operating income growth across the sample (fundamentals-2) and a steady reduction in shares outstanding (fundamentals-5) are company-level results that can mechanically improve per-share cash flow and reported profitability (moderate evidence). Strong dividend metrics and recent multi-year dividend growth (market-0, market-1) and large institutional ownership (ownership-0, ownership-1) provide additional context that market participants and income-focused funds may find attractive (strong evidence for income profile and institutional interest). The bear points — supply-chain, pricing and privacy risks (filings-0, filings-1, filings-2), elevated volatility and weak momentum (market-3, market-4), and high long-term debt vs cash (valuation-4) — are valid cautions but largely describe risk factors, market-wide dynamics, or balance-sheet leverage rather than direct negation of the company-level improvements in operating income, cash flow generation and shareholder-return signaling (these risk claims are credible but more cautionary in nature).
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.30
39 surviving claims rest on 21 distinct sources; the heaviest analyst carries 20% of them, and 97% of what the desk raised survived the debate.
The evidence base is moderately concentrated: 39 surviving claims draw on 21 distinct sources and one analyst produced about one-fifth of the claims, so individual contributors and key documents matter for the read. The high debate-survival rate (97%) means the desk largely agreed on these points, but source concentration and analyst weight reduce the independent robustness — treat the summary as informational and check primary filings for critical decisions.
Peer context · computed, not argued
12-1 momentum ranks 4th of 6 in Telecom Services (as of 2026-09-09).
90-day volatility ranks 5th of 6 in Telecom Services (as of 2026-09-09).
dividend yield ranks 2nd of 6 in Telecom Services (as of 2026-09-09).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
13 filings· 3 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer+0.3 to the score
12 documents· 2 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−0.2 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash+0.4 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.5 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
20 filings· 2 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state, with stated and inferred flags kept apart.
Read by Talbot+1.2 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
The full terminal on T Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
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Educational analysis of published data. Moneyta does not give investment advice or make recommendations.