National Bank of Canada FI Has $250.43 Million Stake in AT&T Inc. (NYSE:T)

National Bank of Canada FI raised its stake in shares of AT&T Inc. (NYSE:T) by 47.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,854,926 shares of the technology company’s stock after buying an additional 2,869,215 shares during the period. National Bank of Canada FI’s holdings in AT&T were worth $250,433,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. AMF Tjanstepension AB boosted its stake in shares of AT&T by 49.4% during the 1st quarter. AMF Tjanstepension AB now owns 3,009,889 shares of the technology company’s stock valued at $85,139,000 after buying an additional 995,866 shares during the period. Caisse Des Depots ET Consignations boosted its stake in shares of AT&T by 4.2% during the 1st quarter. Caisse Des Depots ET Consignations now owns 345,983 shares of the technology company’s stock valued at $9,784,000 after buying an additional 13,836 shares during the period. Beam Wealth Advisors Inc. boosted its stake in shares of AT&T by 8.5% during the 1st quarter. Beam Wealth Advisors Inc. now owns 49,035 shares of the technology company’s stock valued at $1,387,000 after buying an additional 3,835 shares during the period. WBH Advisory Inc. boosted its stake in shares of AT&T by 17.8% during the 1st quarter. WBH Advisory Inc. now owns 15,060 shares of the technology company’s stock valued at $426,000 after buying an additional 2,272 shares during the period. Finally, Fayez Sarofim & Co boosted its stake in shares of AT&T by 4.6% during the 1st quarter. Fayez Sarofim & Co now owns 37,893 shares of the technology company’s stock valued at $1,072,000 after buying an additional 1,672 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 2.0%

AT&T stock opened at $28.05 on Friday. The company has a market cap of $200.59 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 3.41 and a beta of 0.42. AT&T Inc. has a 1-year low of $18.97 and a 1-year high of $29.19. The company has a fifty day simple moving average of $27.83 and a 200 day simple moving average of $26.97. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 earnings per share. Research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.0%. AT&T’s dividend payout ratio (DPR) is currently 63.07%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on T shares. Bank of America started coverage on shares of AT&T in a research note on Monday, July 7th. They set a “buy” rating and a $32.00 target price for the company. UBS Group reaffirmed a “buy” rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. TD Securities lifted their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, April 24th. Hsbc Global Res downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $29.66.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.