Vanguard Group Inc Raises Holdings in AT&T Inc. (T)
Vanguard Group Inc raised its stake in AT&T Inc. (NYSE:T) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 531,005,481 shares of the technology company’s stock after purchasing an additional 3,379,045 shares during the period. AT&T makes up approximately 0.7% of Vanguard Group Inc’s holdings, making the stock its 16th biggest position. Vanguard Group Inc owned 0.09% of AT&T worth $17,831,164,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of T. Bank of New York Mellon Corp boosted its holdings in AT&T by 21.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 72,724,434 shares of the technology company’s stock valued at $2,335,182,000 after purchasing an additional 12,709,982 shares during the period. Dimensional Fund Advisors LP boosted its holdings in AT&T by 17.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 82,556,205 shares of the technology company’s stock valued at $2,650,940,000 after purchasing an additional 11,990,755 shares during the period. Northern Trust Corp boosted its holdings in AT&T by 13.7% in the 2nd quarter. Northern Trust Corp now owns 83,934,430 shares of the technology company’s stock valued at $2,695,135,000 after purchasing an additional 10,082,798 shares during the period. Charles Schwab Investment Advisory Inc. bought a new stake in AT&T in the 2nd quarter valued at $321,448,000. Finally, Swiss National Bank boosted its holdings in AT&T by 22.4% in the 2nd quarter. Swiss National Bank now owns 26,545,263 shares of the technology company’s stock valued at $852,368,000 after purchasing an additional 4,853,805 shares during the period. 63.35% of the stock is owned by hedge funds and other institutional investors.
Shares of AT&T stock opened at $30.86 on Tuesday. The stock has a market cap of $189.08 billion, a P/E ratio of 8.78, a PEG ratio of 1.29 and a beta of 0.59. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.86. AT&T Inc. has a 12-month low of $26.80 and a 12-month high of $37.10.
A number of equities analysts have recently issued reports on the stock. Moffett Nathanson upgraded shares of AT&T from a “sell” rating to a “neutral” rating and set a $28.00 price objective for the company in a research note on Monday, November 26th. Barclays set a $32.00 price objective on shares of AT&T and gave the company a “hold” rating in a research note on Friday, January 18th. Cowen upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $34.00 to $36.00 in a research note on Monday, December 3rd. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and set a $38.00 price objective for the company in a research note on Monday, December 3rd. Finally, Bank of America set a $37.00 price objective on shares of AT&T and gave the company a “buy” rating in a research note on Monday, November 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. AT&T currently has a consensus rating of “Buy” and an average target price of $35.71.
In related news, CEO John T. Stankey sold 3,748 shares of the stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $29.84, for a total transaction of $111,840.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.07% of the company’s stock.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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