Nippon Life Global Investors Americas Inc. bought a new stake in AT&T Inc. (NYSE:T) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 425,280 shares of the technology company’s stock, valued at approximately $16,045,000. AT&T comprises about 1.4% of Nippon Life Global Investors Americas Inc.’s holdings, making the stock its 20th largest position.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. APG Asset Management N.V. raised its stake in shares of AT&T by 7.1% during the 2nd quarter. APG Asset Management N.V. now owns 16,917,935 shares of the technology company’s stock worth $638,314,000 after buying an additional 1,117,300 shares during the period. Achmea Investment Management B.V. acquired a new position in AT&T in the 1st quarter valued at $42,198,000. Schwab Charles Investment Management Inc. raised its stake in AT&T by 4.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 23,368,641 shares of the technology company’s stock valued at $881,699,000 after purchasing an additional 1,011,014 shares during the last quarter. Harbour Capital Advisors LLC raised its stake in AT&T by 3,465.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 883,674 shares of the technology company’s stock valued at $23,421,000 after purchasing an additional 858,888 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its holdings in AT&T by 511.7% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 1,003,922 shares of the technology company’s stock valued at $37,878,000 after buying an additional 839,792 shares in the last quarter. Hedge funds and other institutional investors own 55.21% of the company’s stock.
In other AT&T news, Director Matthew K. Rose purchased 29,600 shares of AT&T stock in a transaction that occurred on Wednesday, October 25th. The stock was purchased at an average price of $33.75 per share, with a total value of $999,000.00. Following the completion of the acquisition, the director now owns 3,100 shares of the company’s stock, valued at approximately $104,625. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.
Shares of AT&T Inc. (NYSE:T) opened at $33.72 on Wednesday. AT&T Inc. has a 1 year low of $32.55 and a 1 year high of $43.03. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $207,680.00, a PE ratio of 11.68, a PEG ratio of 2.76 and a beta of 0.41.
AT&T (NYSE:T) last issued its earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). AT&T had a return on equity of 14.49% and a net margin of 8.00%. The company had revenue of $39.67 billion during the quarter, compared to analysts’ expectations of $40.34 billion. During the same period in the previous year, the company earned $0.74 EPS. AT&T’s quarterly revenue was down 3.0% on a year-over-year basis. research analysts expect that AT&T Inc. will post 2.93 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 5.81%. The ex-dividend date of this dividend was Friday, October 6th. AT&T’s dividend payout ratio is currently 94.23%.
T has been the subject of a number of research analyst reports. Standpoint Research initiated coverage on AT&T in a report on Wednesday, November 8th. They set a “buy” rating and a $40.00 target price for the company. Vetr raised AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 price target on the stock in a research report on Wednesday, August 16th. Cowen and Company reaffirmed a “market perform” rating and issued a $41.00 price target (down previously from $43.00) on shares of AT&T in a research report on Wednesday, July 26th. Moffett Nathanson reaffirmed a “neutral” rating on shares of AT&T in a research report on Monday, October 16th. Finally, Morgan Stanley raised their target price on AT&T from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $43.48.
AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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