AT&T Inc. $T Shares Sold by Pensionfund Sabic

Pensionfund Sabic reduced its position in shares of AT&T Inc. (NYSE:T) by 21.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,500 shares of the technology company’s stock after selling 24,000 shares during the period. Pensionfund Sabic’s holdings in AT&T were worth $2,531,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of T. Nuveen LLC purchased a new position in AT&T in the 1st quarter worth about $1,072,128,000. GQG Partners LLC increased its stake in AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in AT&T by 31.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock worth $1,216,665,000 after purchasing an additional 12,881,578 shares in the last quarter. Ontario Teachers Pension Plan Board increased its stake in AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after purchasing an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after purchasing an additional 8,841,126 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on T shares. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Morgan Stanley lifted their price target on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Sanford C. Bernstein lifted their price target on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. The Goldman Sachs Group started coverage on AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target on the stock. Finally, Wells Fargo & Company lifted their target price on AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.60.

AT&T Trading Up 0.3%

NYSE:T opened at $29.59 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The stock’s 50-day moving average is $28.31 and its two-hundred day moving average is $27.73. The stock has a market cap of $211.58 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 3.67 and a beta of 0.44.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter in the previous year, the business posted $0.51 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, July 10th. AT&T’s payout ratio is currently 63.07%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.