Forsta AP Fonden Acquires 2,900 Shares of AT&T Inc. $T

Forsta AP Fonden increased its holdings in shares of AT&T Inc. (NYSE:T) by 0.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,808,700 shares of the technology company’s stock after acquiring an additional 2,900 shares during the period. Forsta AP Fonden’s holdings in AT&T were worth $52,344,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Denali Advisors LLC increased its stake in shares of AT&T by 5.9% during the 2nd quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock worth $11,606,000 after purchasing an additional 22,394 shares during the last quarter. Tredje AP fonden grew its holdings in AT&T by 1.8% during the second quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock worth $35,347,000 after purchasing an additional 21,720 shares during the period. CHURCHILL MANAGEMENT Corp increased its position in AT&T by 1.5% during the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock worth $9,380,000 after buying an additional 4,793 shares during the last quarter. Kickstand Ventures LLC. bought a new stake in AT&T in the second quarter valued at approximately $489,000. Finally, Sentry Investment Management LLC lifted its position in shares of AT&T by 153.2% in the second quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after buying an additional 13,370 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on T. Barclays decreased their target price on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Wall Street Zen downgraded shares of AT&T from a “buy” rating to a “hold” rating in a report on Saturday. Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Finally, Citigroup reaffirmed a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.64.

AT&T Stock Up 1.4%

T opened at $25.19 on Wednesday. The stock has a fifty day moving average of $26.97 and a 200-day moving average of $27.60. The company has a market capitalization of $178.55 billion, a P/E ratio of 8.18, a P/E/G ratio of 2.16 and a beta of 0.40. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79. 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 (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business 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 company posted $0.60 earnings per share. AT&T’s revenue was up 1.7% compared to the same quarter last year. On average, equities analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Friday, October 10th. AT&T’s payout ratio is presently 36.04%.

AT&T Company 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.