FUKOKU MUTUAL LIFE INSURANCE Co Trims Stock Holdings in AT&T Inc. (NYSE:T)

FUKOKU MUTUAL LIFE INSURANCE Co lessened its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 793,115 shares of the technology company's stock after selling 25,000 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co's holdings in AT&T were worth $17,449,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of T. Vanguard Group Inc. boosted its holdings in AT&T by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company's stock valued at $10,999,912,000 after acquiring an additional 2,588,539 shares during the period. Bank of New York Mellon Corp grew its position in AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company's stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Legal & General Group Plc boosted its holdings in shares of AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company's stock worth $1,148,689,000 after buying an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of AT&T by 2.0% in the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company's stock worth $985,307,000 after buying an additional 1,007,228 shares during the period. Finally, LSV Asset Management boosted its holdings in AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company's stock worth $575,070,000 after buying an additional 315,580 shares during the period. Institutional investors own 57.10% of the company's stock.

AT&T Trading Up 1.9 %

Shares of NYSE:T traded up $0.43 during trading on Friday, reaching $22.68. 21,488,223 shares of the company were exchanged, compared to its average volume of 35,430,496. The firm has a market capitalization of $162.74 billion, a PE ratio of 18.20, a P/E/G ratio of 3.35 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 12-month low of $15.75 and a 12-month high of $22.73. The business's fifty day simple moving average is $21.85 and its 200-day simple moving average is $19.67.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. AT&T's quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. On average, research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.89%. AT&T's dividend payout ratio is presently 90.24%.

Analysts Set New Price Targets

Several research firms have weighed in on T. Hsbc Global Res raised shares of AT&T to a "strong-buy" rating in a research report on Tuesday, October 1st. Wells Fargo & Company reduced their price target on AT&T from $25.00 to $24.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Barclays upped their price target on shares of AT&T from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Tigress Financial boosted their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, September 27th. Finally, Scotiabank downgraded AT&T from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $23.40.

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.