APG Asset Management N.V. Has $122.83 Million Stock Position in AT&T Inc. $T

Key Points

• APG Asset Management N.V. reduced its holdings in AT&T by 3.3% in the first quarter, owning approximately 4.69 million shares valued at $122.83 million.
• AT&T's stock has received a general consensus rating of "Moderate Buy" from analysts, with an average price target of $30.21.
• The company recently announced a quarterly dividend of $0.2775 per share, yielding about 3.9%, with a dividend payout ratio of 63.07%.

APG Asset Management N.V. reduced its position in AT&T Inc. (NYSE:T - Free Report) by 3.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,691,679 shares of the technology company's stock after selling 158,027 shares during the period. APG Asset Management N.V. owned about 0.07% of AT&T worth $122,830,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Stone House Investment Management LLC acquired a new stake in AT&T in the 1st quarter valued at about $25,000. Hager Investment Management Services LLC lifted its stake in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after purchasing an additional 641 shares during the last quarter. IMA Advisory Services Inc. acquired a new stake in AT&T in the 1st quarter valued at about $29,000. Core Alternative Capital lifted its position in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after acquiring an additional 568 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in AT&T during the fourth quarter worth approximately $25,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on T shares. Hsbc Global Res downgraded AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. Tigress Financial upped their target price on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Scotiabank upped their target price on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research report on Friday, July 11th. Finally, UBS Group reaffirmed a "buy" rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, AT&T currently has a consensus rating of "Moderate Buy" and an average price target of $30.21.

AT&T Stock Down 2.4%

Shares of T opened at $28.7290 on Friday. AT&T Inc. has a 12 month low of $19.51 and a 12 month high of $29.65. The firm's 50 day moving average is $27.99 and its 200-day moving average is $27.36. The stock has a market capitalization of $205.42 billion, a PE ratio of 16.32, a P/E/G ratio of 3.64 and a beta of 0.42. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. During the same period last year, the firm earned $0.51 earnings per share. The business's revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's dividend payout ratio (DPR) is 63.07%.

AT&T 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.

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