AIA Group Ltd Has $6.54 Million Stock Position in AT&T Inc. (NYSE:T)

Key Points

• AIA Group Ltd has reduced its stake in AT&T Inc. by 29.0% in the first quarter, now owning 231,111 shares valued at approximately $6.5 million.
• AT&T reported a profit of $0.54 EPS for the last quarter, exceeding analysts' expectations, with revenues of $30.85 billion, up 3.4% year-over-year.
• The company announced a quarterly dividend of $0.2775, resulting in an annualized dividend yield of 4.0%.

AIA Group Ltd decreased its holdings in AT&T Inc. (NYSE:T - Free Report) by 29.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 231,111 shares of the technology company's stock after selling 94,325 shares during the period. AIA Group Ltd's holdings in AT&T were worth $6,536,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of T. Vanguard Group Inc. boosted its holdings in AT&T by 1.3% in the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock worth $18,411,543,000 after purchasing an additional 8,185,006 shares during the period. Northern Trust Corp raised its stake in shares of AT&T by 16.3% during the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after purchasing an additional 10,945,679 shares in the last quarter. Capital World Investors raised its stake in shares of AT&T by 5.2% during the fourth quarter. Capital World Investors now owns 57,425,387 shares of the technology company's stock valued at $1,307,576,000 after purchasing an additional 2,841,837 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of AT&T by 31.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock valued at $1,216,665,000 after purchasing an additional 12,881,578 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in AT&T by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 52,032,367 shares of the technology company's stock worth $1,184,717,000 after acquiring an additional 2,992,073 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Raymond James Financial reiterated a "strong-buy" rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Barclays increased their price target on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Bank of America began coverage on AT&T in a report on Monday, July 7th. They set a "buy" rating and a $32.00 price target on the stock. Cowen reissued a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Scotiabank raised their target price on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $29.66.

AT&T Trading Down 0.3%

T traded down $0.08 during midday trading on Wednesday, reaching $28.40. 26,375,071 shares of the company were exchanged, compared to its average volume of 37,541,125. 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 one year low of $18.97 and a one year high of $29.19. The stock has a market capitalization of $203.07 billion, a P/E ratio of 16.14, a PEG ratio of 3.49 and a beta of 0.42. The stock's 50-day simple moving average is $27.85 and its 200 day simple moving average is $27.12.

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

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given 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 currently 63.07%.

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.