Fjarde AP Fonden Fourth Swedish National Pension Fund Grows Position in AT&T Inc. $T

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of AT&T Inc. (NYSE:T) by 22.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,856,370 shares of the technology company’s stock after buying an additional 336,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in AT&T were worth $53,723,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Parcion Private Wealth LLC grew its stake in AT&T by 2.5% during the 2nd quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock worth $431,000 after buying an additional 364 shares during the last quarter. David J Yvars Group grew its stake in AT&T by 2.8% during the 2nd quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock worth $402,000 after buying an additional 372 shares during the last quarter. AllSquare Wealth Management LLC grew its stake in AT&T by 7.1% during the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock worth $161,000 after buying an additional 378 shares during the last quarter. Barnes Wealth Management Group Inc grew its stake in AT&T by 2.6% during the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock worth $425,000 after buying an additional 380 shares during the last quarter. Finally, Kathmere Capital Management LLC grew its stake in AT&T by 0.8% during the 2nd quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company’s stock worth $1,470,000 after buying an additional 381 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on T shares. Cowen reiterated a “hold” rating on shares of AT&T in a research note on Thursday. Wall Street Zen upgraded AT&T from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company lowered their target price on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Williams Trading set a $33.00 target price on AT&T in a research note on Thursday. Finally, Barclays lowered their target price on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.67.

AT&T Stock Up 1.4%

AT&T stock opened at $25.50 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. AT&T Inc. has a 1-year low of $21.38 and a 1-year high of $29.79. The company has a market cap of $182.35 billion, a PE ratio of 8.28, a price-to-earnings-growth ratio of 2.03 and a beta of 0.42. The stock’s 50 day moving average price is $27.90 and its 200 day moving average price is $27.76.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.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 previous year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.4%. AT&T’s payout ratio is currently 36.04%.

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.