Grantham Mayo Van Otterloo & Co. LLC Has $11.59 Million Stock Position in AT&T Inc. $T

Grantham Mayo Van Otterloo & Co. LLC lifted its position in AT&T Inc. (NYSE:T) by 90.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 400,531 shares of the technology company’s stock after buying an additional 190,482 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in AT&T were worth $11,591,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Denali Advisors LLC boosted its stake in shares of AT&T by 5.9% during the 2nd quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock valued at $11,606,000 after buying an additional 22,394 shares during the period. Tredje AP fonden raised its holdings in shares of AT&T by 1.8% during the second quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock worth $35,347,000 after acquiring an additional 21,720 shares in the last quarter. CHURCHILL MANAGEMENT Corp boosted its position in AT&T by 1.5% during the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after purchasing an additional 4,793 shares during the last quarter. Kickstand Ventures LLC. purchased a new position in AT&T in the second quarter valued at about $489,000. Finally, Sentry Investment Management LLC grew its stake in AT&T by 153.2% in the second quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after purchasing an additional 13,370 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 research analysts have recently weighed in on the company. UBS Group reaffirmed a “buy” rating on shares of AT&T in a research note on Thursday, October 23rd. TD Cowen lifted their target price on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Barclays decreased their target price on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, October 23rd. Royal Bank Of Canada cut their price target on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, October 23rd. Finally, Wells Fargo & Company reduced their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.64.

AT&T Trading Up 0.7%

NYSE:T opened at $25.99 on Friday. The company’s 50 day moving average is $26.02 and its 200-day moving average is $27.42. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79. The firm has a market cap of $184.25 billion, a price-to-earnings ratio of 8.44, a P/E/G ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The business had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. AT&T’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.60 EPS. Equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s payout ratio is currently 36.04%.

AT&T Profile

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.