Daiwa Securities Group Inc. raised its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 49.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,201,821 shares of the technology company's stock after purchasing an additional 397,762 shares during the quarter. Daiwa Securities Group Inc.'s holdings in AT&T were worth $26,440,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV grew its position in shares of AT&T by 1,379.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company's stock worth $270,581,000 after buying an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC grew its holdings in AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company's stock worth $414,563,000 after acquiring an additional 6,602,586 shares in the last quarter. Bank of New York Mellon Corp increased its position in AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company's stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Thornburg Investment Management Inc. lifted its position in shares of AT&T by 22.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company's stock worth $477,528,000 after purchasing an additional 4,511,725 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new position in AT&T during the second quarter valued at approximately $78,570,000. 57.10% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms have issued reports on T. Citigroup lifted their target price on AT&T from $21.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. Hsbc Global Res raised shares of AT&T to a "strong-buy" rating in a research report on Tuesday, October 1st. Barclays boosted their target price on AT&T from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Moffett Nathanson boosted their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Thursday, August 15th. Finally, Scotiabank downgraded AT&T from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and a consensus target price of $23.40.
Check Out Our Latest Analysis on T
AT&T Trading Up 0.9 %
Shares of AT&T stock traded up $0.20 during trading hours on Friday, hitting $23.18. The company's stock had a trading volume of 35,732,870 shares, compared to its average volume of 31,071,468. The firm has a fifty day moving average of $22.02 and a 200-day moving average of $19.94. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $23.29. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a market cap of $166.32 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 3.45 and a beta of 0.59.
AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm's revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. Research analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.
AT&T Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.79%. The ex-dividend date was Thursday, October 10th. AT&T's payout ratio is 90.24%.
AT&T Company Profile
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Free Report)
AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.
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