Chevy Chase Trust Holdings Inc. Has $202.81 Million Stake in AT&T Inc. (T)

Chevy Chase Trust Holdings Inc. grew its stake in AT&T Inc. (NYSE:T) by 16.7% in the 2nd quarter, Holdings Channel reports. The firm owned 6,316,152 shares of the technology company’s stock after purchasing an additional 904,939 shares during the period. AT&T comprises approximately 0.9% of Chevy Chase Trust Holdings Inc.’s holdings, making the stock its 20th largest position. Chevy Chase Trust Holdings Inc.’s holdings in AT&T were worth $202,812,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of T. BlackRock Inc. lifted its stake in shares of AT&T by 2.8% during the 1st quarter. BlackRock Inc. now owns 387,352,856 shares of the technology company’s stock worth $13,809,130,000 after acquiring an additional 10,535,763 shares during the last quarter. Newport Trust Co lifted its stake in shares of AT&T by 1.5% during the 2nd quarter. Newport Trust Co now owns 204,091,273 shares of the technology company’s stock worth $6,553,371,000 after acquiring an additional 3,055,174 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of AT&T by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 70,565,450 shares of the technology company’s stock worth $2,515,617,000 after acquiring an additional 879,436 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of AT&T by 26.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 23,675,124 shares of the technology company’s stock worth $760,208,000 after acquiring an additional 4,930,318 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in shares of AT&T by 37.6% during the 1st quarter. Prudential Financial Inc. now owns 15,978,233 shares of the technology company’s stock worth $569,624,000 after acquiring an additional 4,366,723 shares during the last quarter. 64.72% of the stock is owned by institutional investors and hedge funds.

In related news, Director Matthew K. Rose purchased 65,500 shares of the business’s stock in a transaction dated Thursday, July 26th. The shares were acquired at an average cost of $30.51 per share, for a total transaction of $1,998,405.00. Following the acquisition, the director now owns 81,319 shares of the company’s stock, valued at approximately $2,481,042.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Piazza Samuel A. Jr. Di purchased 7,690 shares of the business’s stock in a transaction dated Wednesday, August 8th. The stock was bought at an average price of $32.48 per share, for a total transaction of $249,771.20. Following the completion of the acquisition, the director now directly owns 31,405 shares in the company, valued at approximately $1,020,034.40. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

A number of equities research analysts recently issued reports on T shares. UBS Group raised AT&T from a “neutral” rating to a “buy” rating and raised their price target for the stock from $33.00 to $38.00 in a research note on Friday, September 21st. They noted that the move was a valuation call. Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Tuesday, July 17th. Macquarie reissued a “buy” rating and set a $35.00 price target on shares of AT&T in a research note on Wednesday, September 12th. Bank of America reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 21st. Finally, Scotiabank set a $33.00 price target on AT&T and gave the stock a “hold” rating in a research note on Monday, July 23rd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. AT&T currently has a consensus rating of “Hold” and a consensus target price of $37.82.

Shares of NYSE T opened at $32.87 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $199.95 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 2.59 and a beta of 0.40. AT&T Inc. has a twelve month low of $30.13 and a twelve month high of $39.33.

AT&T (NYSE:T) last issued its earnings results on Tuesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. The business had revenue of $38.99 billion during the quarter, compared to analyst estimates of $38.45 billion. AT&T had a return on equity of 13.64% and a net margin of 20.12%. AT&T’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 EPS. Research analysts expect that AT&T Inc. will post 3.52 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date is Tuesday, October 9th. AT&T’s dividend payout ratio (DPR) is presently 65.57%.

AT&T Profile

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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