Keybank National Association OH Has $34.17 Million Holdings in AT&T Inc. $T

Keybank National Association OH grew its stake in shares of AT&T Inc. (NYSE:T) by 2.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,180,563 shares of the technology company’s stock after purchasing an additional 29,148 shares during the quarter. Keybank National Association OH’s holdings in AT&T were worth $34,166,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC acquired a new stake in AT&T during the 2nd quarter worth approximately $5,266,758,000. Nuveen LLC acquired a new stake in shares of AT&T during the first quarter worth $1,072,128,000. GQG Partners LLC lifted 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 buying an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in shares of AT&T by 30,527.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after buying an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of AT&T by 350.4% during the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after buying an additional 8,841,126 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

AT&T stock opened at $24.66 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79. The stock has a market capitalization of $176.35 billion, a P/E ratio of 8.01, a price-to-earnings-growth ratio of 2.16 and a beta of 0.42. The stock has a fifty day moving average of $27.65 and a 200-day moving average of $27.72.

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

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio is presently 36.04%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wells Fargo & Company dropped 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. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Thursday, July 24th. The Goldman Sachs Group began coverage on AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective for the company. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 price objective (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.67.

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.