Toronto Dominion Bank Has $77.48 Million Stock Position in AT&T Inc. (NYSE:T)

Toronto Dominion Bank lessened its stake in AT&T Inc. (NYSE:T - Free Report) by 11.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,521,978 shares of the technology company's stock after selling 468,971 shares during the quarter. Toronto Dominion Bank's holdings in AT&T were worth $77,484,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in T. Davidson Kempner Capital Management LP acquired a new position in AT&T in the 2nd quarter worth $23,888,000. Swiss National Bank boosted its position in AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company's stock worth $468,217,000 after acquiring an additional 104,700 shares during the last quarter. Caprock Group LLC grew its stake in shares of AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company's stock worth $4,312,000 after acquiring an additional 30,281 shares in the last quarter. Talbot Financial LLC acquired a new stake in shares of AT&T in the third quarter valued at approximately $7,438,000. Finally, Mackenzie Financial Corp lifted its position in shares of AT&T by 12.2% in the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company's stock worth $50,486,000 after purchasing an additional 288,093 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Citigroup raised their price target on AT&T from $26.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Redburn Atlantic raised shares of AT&T to a "strong sell" rating in a research note on Monday, September 16th. JPMorgan Chase & Co. upped their price target on shares of AT&T from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Hsbc Global Res raised shares of AT&T to a "strong-buy" rating in a report on Tuesday, October 1st. Finally, Wells Fargo & Company reduced their price target on AT&T from $25.00 to $24.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $25.00.

AT&T Price Performance

AT&T stock traded down $0.13 during trading hours on Wednesday, reaching $23.38. 17,607,563 shares of the stock were exchanged, compared to its average volume of 35,491,938. The stock has a 50 day moving average of $22.41 and a two-hundred day moving average of $20.47. The company has a market cap of $167.76 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 3.63 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter last year, the business posted $0.64 EPS. The company's revenue was down .5% compared to the same quarter last year. Equities analysts expect that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T's dividend payout ratio (DPR) is 90.24%.

AT&T Profile

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.