CX Institutional Has $6.35 Million Position in AT&T Inc. (NYSE:T)

CX Institutional lifted its stake in AT&T Inc. (NYSE:T - Free Report) by 802.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 288,802 shares of the technology company's stock after acquiring an additional 256,785 shares during the period. CX Institutional's holdings in AT&T were worth $6,354,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV raised its holdings in shares of AT&T by 1,379.0% in 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 purchasing an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company's stock worth $414,563,000 after purchasing an additional 6,602,586 shares in the last quarter. Bank of New York Mellon Corp raised its holdings 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 worth $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. Thornburg Investment Management Inc. raised its holdings 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 in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of AT&T in the 2nd quarter worth approximately $78,570,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wells Fargo & Company boosted their target price on shares of AT&T from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday. 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 report on Wednesday, September 11th. Oppenheimer raised their price target on shares of AT&T from $21.00 to $23.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. Royal Bank of Canada raised their target price on shares of AT&T from $18.00 to $19.00 and gave the company a "sector perform" rating in a research note on Thursday, July 25th. Finally, Tigress Financial raised their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, nine have issued 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, AT&T currently has an average rating of "Moderate Buy" and a consensus target price of $22.69.

AT&T Trading Up 1.2 %

NYSE T traded up $0.26 during trading on Tuesday, reaching $21.53. 35,936,913 shares of the stock traded hands, compared to its average volume of 35,689,582. The firm has a market cap of $154.34 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 3.62 and a beta of 0.60. The stock's 50-day moving average price is $20.81 and its 200 day moving average price is $18.89. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a fifty-two week low of $14.23 and a fifty-two week high of $22.34.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The firm's revenue was down .3% compared to the same quarter last year. Analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.16%. The ex-dividend date is Thursday, October 10th. AT&T's payout ratio is 59.68%.

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.