AT&T Inc. (NYSE:T) Stock Position Increased by KBC Group NV

KBC Group NV raised its position in shares of AT&T Inc. (NYSE:T - Free Report) by 6.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,349,457 shares of the technology company's stock after purchasing an additional 85,378 shares during the period. KBC Group NV's holdings in AT&T were worth $29,688,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of AT&T by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company's stock worth $10,999,912,000 after purchasing an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of 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 valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the last quarter. Legal & General Group Plc boosted its stake in AT&T by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company's stock worth $1,148,689,000 after purchasing an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. grew its position in AT&T by 2.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company's stock worth $985,307,000 after purchasing an additional 1,007,228 shares during the last quarter. Finally, LSV Asset Management increased its stake in AT&T by 1.1% during the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company's stock valued at $575,070,000 after purchasing an additional 315,580 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of AT&T stock traded up $0.44 on Friday, reaching $22.69. 40,191,875 shares of the stock were exchanged, compared to its average volume of 35,514,727. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $162.81 billion, a PE ratio of 18.45, a PEG ratio of 3.35 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.75 and a 1-year high of $22.75. The business has a fifty day moving average price of $21.85 and a two-hundred day moving average price of $19.67.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during 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 company's revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS. As a group, research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T's payout ratio is 90.24%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of AT&T from $25.00 to $24.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Redburn Atlantic raised AT&T to a "strong sell" rating in a research report on Monday, September 16th. Moffett Nathanson boosted their price objective on AT&T from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Thursday, August 15th. Tigress Financial upped their price objective on AT&T from $29.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. Finally, Citigroup raised their price target on shares of AT&T from $21.00 to $24.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $23.40.

AT&T Company 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.