NEW YORK, July 24, 2026, 06:08 EDT – AT&T NYSE:T is seeing improved figures on its share repurchase activity now that the stock is trading under the average price paid in the first half of the year.
- AT&T’s buybacks in the first half suggest an average purchase price of around $25.49.
- Shares ended 9.9% down on Thursday, raising the number of shares that can be purchased per dollar.
AT&T Inc. NYSE:T has additional capacity for stock repurchases under its accelerated buyback plan. After accounting for purchases made in the first half of the year, $5.57 billion remains of its $10 billion total target, not counting transactions in July.
Based on Thursday’s closing price of $22.96, roughly 242 million shares could be acquired with that amount. This represents 3.5% of the outstanding shares as of July 16. The figure is an initial estimate and is based on the current price remaining steady.
AT&T purchased approximately 174 million shares for a total of $4.435 billion in the first half, suggesting an average cost of about $25.49 per share. The company has set a goal of roughly $10 billion in buybacks for this year.
The reduced price increases the number of shares acquired for each dollar.
| Price reference | Share price | Shares bought per $1 billion |
|---|---|---|
| First-half implied mean | $25.49 | 39.2 million |
| Second-quarter mean | $25.01 | 40.0 million |
| Close on July 23 | $22.96 | 43.6 million |
Initial estimate based on approximate company data.
With the price at $22.96, every $1 billion can now purchase 11% more shares than in the first half. The remaining notional sum could buy back around 24 million more shares.
AT&T’s annual dividend of $1.11 offers a yield of 4.8% at this price. Early estimates suggest that total buybacks and dividends for the year could reach about 11.2% of the company’s current equity value.
This figure represents the gross yield. It does not account for execution prices, employee issuance, or any modifications to the plan.
Second-quarter operating results bolstered the buyback calculations. AT&T reported a net addition of 432,000 postpaid phone subscribers and recorded a churn rate of 0.86%. Free cash flow totaled $4.7 billion.
Adjusted earnings reached 65 cents per share, surpassing the 59-cent estimate from LSEG. Revenue stood at $31.6 billion, slightly missing the $31.8 billion forecast. Free cash flow exceeded the Visible Alpha prediction of $4.43 billion.
Chief Executive John Stankey stated, “We are accelerating the pace of our planned share repurchases this year to approximately $10 billion.” AT&T Newsroom
Shares climbed 3.5% following Wednesday’s results. On Thursday, they slipped 0.35%, while the S&P 500 dropped 1.21%. AT&T finished 5.3% higher than last Friday’s closing price.
T-Mobile US Inc. NASDAQ:TMUS shares ended Thursday down 10.75%. The company lifted its free-cash-flow outlook but projected roughly 250,000 postpaid account additions for the third quarter, below the analyst consensus of 304,000.
The mixed response is significant. AT&T missed on revenue, yet reported low churn and announced a substantial cash-return initiative. T-Mobile’s guidance sparked new concerns over account growth in the near term.
Wolfe Research’s Peter Supino raised his rating on AT&T to Outperform, setting a target price of $29. “Starlink may bully its way into mobility, but it would take years to acquire and clear the right spectrum,” he said. Barron’s
U.S. premarket trade began at 06:08 EDT, ahead of the standard opening at 09:30 EDT. Verizon Communications Inc. NYSE:VZ is set to release its second-quarter results at 07:00 EDT, offering an updated measure for churn and cash flow.
AT&T has not announced any investor events through next week. The company’s next planned event is its dividend distribution on August 3.
Risks persist. Net debt was reported at $126.4 billion, with yearly capital investment targeted at $23 billion to $24 billion. Declines in share price may also signal concerns over competition, performance, or upcoming cash flow.
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