AT&T Inc. $T Shares Acquired by State Street Corp

State Street Corp lifted its holdings in AT&T Inc. (NYSE:T) by 2.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 321,070,509 shares of the technology company’s stock after purchasing an additional 7,404,376 shares during the period. State Street Corp’s holdings in AT&T were worth $9,291,781,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC acquired a new position in AT&T during the 2nd quarter worth $5,266,758,000. Norges Bank acquired a new stake in AT&T in the 2nd quarter valued at about $2,228,655,000. GQG Partners LLC boosted its stake in shares of AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after buying an additional 17,177,874 shares during the period. Vanguard Group Inc. grew its position in shares of AT&T by 1.6% during the second quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock worth $19,139,620,000 after buying an additional 10,310,560 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake 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 during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on T shares. Williams Trading set a $33.00 price objective on shares of AT&T in a research report on Thursday, October 23rd. Wall Street Zen downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. UBS Group reissued a “buy” rating on shares of AT&T in a report on Thursday, October 23rd. Wells Fargo & Company cut their price target 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. Finally, TD Cowen upped their price objective on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.64.

AT&T Price Performance

Shares of NYSE:T opened at $24.80 on Tuesday. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79. The firm has a market capitalization of $175.78 billion, a P/E ratio of 8.05, a P/E/G ratio of 1.48 and a beta of 0.38. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The company’s fifty day moving average price is $25.65 and its 200 day moving average price is $27.34.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (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 company had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. AT&T’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.5%. AT&T’s payout ratio is 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.