Tredje AP fonden Boosts Stake in AT&T Inc. $T

Tredje AP fonden lifted its holdings in AT&T Inc. (NYSE:T) by 1.8% in the 2nd quarter, Holdings Channel reports. The firm owned 1,221,395 shares of the technology company’s stock after acquiring an additional 21,720 shares during the period. Tredje AP fonden’s holdings in AT&T were worth $35,347,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of AT&T by 1.3% in the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock worth $18,411,543,000 after purchasing an additional 8,185,006 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of AT&T in the second quarter worth $5,266,758,000. GQG Partners LLC raised its stake in shares of AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of AT&T by 3.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock worth $1,561,514,000 after purchasing an additional 1,783,363 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of AT&T by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock worth $1,508,411,000 after purchasing an additional 1,307,009 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE:T opened at $24.76 on Friday. The stock has a 50-day simple moving average of $27.57 and a two-hundred day simple moving average of $27.70. AT&T Inc. has a 52-week low of $21.38 and a 52-week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The firm has a market capitalization of $177.01 billion, a PE ratio of 8.04, a P/E/G ratio of 2.16 and a beta of 0.42.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. AT&T’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is currently 36.04%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Raymond James Financial restated a “strong-buy” rating and issued a $33.00 price target (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. TD Cowen upped their price objective on AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group started coverage on AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $30.67.

About AT&T

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.