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AT&T Inc. (NYSE:T) Holdings Raised by ING Groep NV

AT&T logo with Computer and Technology background

Key Points

  • ING Groep NV significantly increased its holdings in AT&T by 213.0% during Q1, owning over 2.6 million shares valued at approximately $74.3 million.
  • AT&T reported a quarterly earnings per share (EPS) of $0.54, exceeding expectations, with revenue up 3.4% year-over-year.
  • The company declared a quarterly dividend of $0.2775 per share, resulting in an annualized yield of 4.0% and a payout ratio of 63.07%.
  • Five stocks we like better than AT&T.

ING Groep NV grew its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 213.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,627,595 shares of the technology company's stock after purchasing an additional 1,788,009 shares during the quarter. ING Groep NV's holdings in AT&T were worth $74,308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. AllSquare Wealth Management LLC grew its stake in AT&T by 7.1% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock valued at $161,000 after buying an additional 378 shares during the last quarter. Next Level Private LLC grew its stake in AT&T by 0.3% in the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after buying an additional 379 shares during the last quarter. Carolinas Wealth Consulting LLC grew its position in AT&T by 1.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after purchasing an additional 384 shares during the last quarter. Kozak & Associates Inc. grew its position in AT&T by 9.4% in the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock worth $126,000 after purchasing an additional 398 shares during the last quarter. Finally, Silver Oak Securities Incorporated grew its position in AT&T by 0.3% in the 1st quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock worth $3,222,000 after purchasing an additional 398 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Stock Up 1.3%

AT&T stock opened at $27.76 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a 52-week low of $18.64 and a 52-week high of $29.19. The firm has a 50 day moving average price of $27.80 and a two-hundred day moving average price of $26.88. The firm has a market cap of $198.49 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 3.44 and a beta of 0.42.

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

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Thursday, July 10th. AT&T's payout ratio is 63.07%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on T. 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 report on Thursday, July 24th. Wells Fargo & Company boosted their price target on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Morgan Stanley boosted their price target on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Cowen restated a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Evercore ISI boosted their price target on shares of AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $29.66.

Get Our Latest Stock Analysis on AT&T

About AT&T

(Free Report)

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.

See Also

Institutional Ownership by Quarter for AT&T (NYSE:T)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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