The Manufacturers Life Insurance Company lessened its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,785,963 shares of the technology company's stock after selling 195,586 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of AT&T worth $149,291,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV boosted its stake in 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 valued at $270,581,000 after purchasing an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC boosted its stake 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 valued at $414,563,000 after purchasing an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp boosted its stake 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 last quarter. Thornburg Investment Management Inc. boosted its stake in AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company's stock valued at $477,528,000 after purchasing an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in AT&T during the 2nd quarter valued at $78,570,000. Institutional investors own 57.10% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on T. Oppenheimer raised their price target on AT&T from $23.00 to $24.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Tigress Financial raised their price target on AT&T from $29.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, September 27th. Evercore ISI raised their price target on AT&T from $19.00 to $21.00 and gave the stock an "in-line" rating in a research note on Thursday, October 24th. Citigroup raised their price target on AT&T from $24.00 to $26.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Hsbc Global Res upgraded AT&T to a "strong-buy" rating in a research report on Tuesday, October 1st. One 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 given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.53.
View Our Latest Analysis on T
AT&T Price Performance
Shares of T stock traded down $0.04 during trading hours on Wednesday, hitting $23.05. The stock had a trading volume of 4,986,403 shares, compared to its average volume of 35,318,070. AT&T Inc. has a one year low of $15.94 and a one year high of $23.32. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The stock's 50-day moving average price is $22.07 and its two-hundred day moving average price is $20.04. The stock has a market capitalization of $165.39 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 3.47 and a beta of 0.59.
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 (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $30.50 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The business's revenue was down .5% compared to the same quarter last year. Equities analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.
AT&T Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.82%. AT&T's dividend payout ratio is currently 90.24%.
AT&T Company Profile
(
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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