Skandinaviska Enskilda Banken AB publ Buys 56,585 Shares of AT&T Inc. $T

Skandinaviska Enskilda Banken AB publ grew its stake in shares of AT&T Inc. (NYSE:T) by 2.7% in the second quarter, HoldingsChannel.com reports. The firm owned 2,165,431 shares of the technology company’s stock after buying an additional 56,585 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in AT&T were worth $62,668,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in AT&T by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock valued at $19,139,620,000 after buying an additional 10,310,560 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in shares of AT&T in the second quarter valued at about $5,266,758,000. Geode Capital Management LLC raised its stake in shares of AT&T by 1.2% during the second quarter. Geode Capital Management LLC now owns 172,039,872 shares of the technology company’s stock valued at $4,958,066,000 after acquiring an additional 2,066,026 shares during the last quarter. GQG Partners LLC boosted its holdings in shares of AT&T by 17.7% during the first 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 during the period. Finally, Norges Bank bought a new stake in shares of AT&T in the second quarter worth about $2,228,655,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of AT&T stock opened at $25.86 on Friday. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79. The firm has a market capitalization of $183.30 billion, a P/E ratio of 8.39, a P/E/G ratio of 2.16 and a beta of 0.40. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $26.08 and a two-hundred day simple moving average of $27.43.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. During the same period in the prior year, the firm earned $0.60 EPS. The company’s revenue was up 1.7% compared to the same quarter last year. On average, equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have commented on T shares. The Goldman Sachs Group started coverage on AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Williams Trading set a $33.00 price target on AT&T in a research note on Thursday, October 23rd. KeyCorp upgraded shares of AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price target on the stock in a report on Tuesday, November 11th. Finally, Sanford C. Bernstein boosted their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average price target of $30.64.

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.