Mason Street Advisors LLC Acquires New Position in AT&T Inc. (T)
Mason Street Advisors LLC acquired a new stake in AT&T Inc. (NYSE:T) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 829,176 shares of the company’s stock, valued at approximately $35,829,000. AT&T makes up approximately 1.0% of Mason Street Advisors LLC’s holdings, making the stock its 8th largest position.
Other large investors have also made changes to their positions in the company. Edmond DE Rothschild Holding S.A. increased its stake in AT&T by 114.6% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 167,857 shares of the company’s stock worth $6,575,000 after buying an additional 89,628 shares during the period. Smith & Howard Wealth Management LLC increased its stake in AT&T by 0.8% in the first quarter. Smith & Howard Wealth Management LLC now owns 8,220 shares of the company’s stock worth $322,000 after buying an additional 66 shares during the period. Primecap Management Co. CA increased its stake in AT&T by 0.8% in the first quarter. Primecap Management Co. CA now owns 18,827,232 shares of the company’s stock worth $737,463,000 after buying an additional 144,275 shares during the period. Pacific Global Investment Management CO increased its stake in AT&T by 13.2% in the first quarter. Pacific Global Investment Management CO now owns 36,303 shares of the company’s stock worth $1,422,000 after buying an additional 4,243 shares during the period. Finally, Pictet Asset Management Ltd. increased its stake in AT&T by 1.4% in the first quarter. Pictet Asset Management Ltd. now owns 6,068,521 shares of the company’s stock worth $224,231,000 after buying an additional 83,692 shares during the period. 53.83% of the stock is owned by hedge funds and other institutional investors.
AT&T Inc. (NYSE:T) traded up 0.40% during midday trading on Friday, hitting $37.56. The stock had a trading volume of 16,982,232 shares. The company has a 50-day moving average of $38.45 and a 200-day moving average of $40.30. The stock has a market cap of $230.66 billion, a price-to-earnings ratio of 15.98 and a beta of 0.35. AT&T Inc. has a 1-year low of $32.22 and a 1-year high of $43.89.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend was Wednesday, October 5th. AT&T’s payout ratio is presently 81.70%.
A number of equities research analysts have recently weighed in on T shares. Zacks Investment Research downgraded AT&T from a “buy” rating to a “hold” rating in a research note on Monday, July 25th. Robert W. Baird reissued a “neutral” rating and set a $41.00 price objective on shares of AT&T in a report on Monday, July 25th. S&P Equity Research set a $46.00 price objective on AT&T and gave the company a “buy” rating in a report on Sunday, July 24th. Argus reissued a “buy” rating and set a $51.00 price objective (up previously from $45.00) on shares of AT&T in a report on Tuesday, July 26th. Finally, Jefferies Group reissued a “buy” rating on shares of AT&T in a report on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the stock. AT&T currently has an average rating of “Hold” and a consensus target price of $41.26.
In other AT&T news, Director Geoffrey Y. Yang bought 27,129 shares of the business’s stock in a transaction on Tuesday, October 25th. The stock was purchased at an average cost of $36.91 per share, for a total transaction of $1,001,331.39. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.07% of the company’s stock.
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.
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