AT&T Inc. (NYSE:T) Shares Bought by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its stake in AT&T by 47.9% during Q1, owning nearly 8.9 million shares valued at approximately $250 million.
• AT&T reported earnings of $0.54 per share for the last quarter, surpassing analyst expectations, with total revenue of $30.85 billion.
• The company announced a quarterly dividend of $0.2775 per share, yielding about 4.0% annually, reflecting a payout ratio of 63.07%.

National Bank of Canada FI raised its holdings in AT&T Inc. (NYSE:T - Free Report) by 47.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 8,854,926 shares of the technology company's stock after acquiring an additional 2,869,215 shares during the period. National Bank of Canada FI owned 0.12% of AT&T worth $250,433,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. AMF Tjanstepension AB increased its holdings in shares of AT&T by 49.4% during the 1st quarter. AMF Tjanstepension AB now owns 3,009,889 shares of the technology company's stock worth $85,139,000 after buying an additional 995,866 shares during the last quarter. Caisse Des Depots ET Consignations increased its holdings in shares of AT&T by 4.2% during the 1st quarter. Caisse Des Depots ET Consignations now owns 345,983 shares of the technology company's stock worth $9,784,000 after buying an additional 13,836 shares during the last quarter. Beam Wealth Advisors Inc. increased its holdings in shares of AT&T by 8.5% during the 1st quarter. Beam Wealth Advisors Inc. now owns 49,035 shares of the technology company's stock worth $1,387,000 after buying an additional 3,835 shares during the last quarter. WBH Advisory Inc. increased its holdings in shares of AT&T by 17.8% during the 1st quarter. WBH Advisory Inc. now owns 15,060 shares of the technology company's stock worth $426,000 after buying an additional 2,272 shares during the last quarter. Finally, Fayez Sarofim & Co increased its holdings in shares of AT&T by 4.6% during the 1st quarter. Fayez Sarofim & Co now owns 37,893 shares of the technology company's stock worth $1,072,000 after buying an additional 1,672 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

NYSE T opened at $28.05 on Friday. AT&T Inc. has a 12 month low of $18.97 and a 12 month high of $29.19. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The firm has a market capitalization of $200.59 billion, a PE ratio of 15.94, a P/E/G ratio of 3.41 and a beta of 0.42. The company's 50 day simple moving average is $27.83 and its 200 day simple moving average is $26.97.

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

AT&T Announces Dividend

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. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.0%. AT&T's dividend payout ratio (DPR) is currently 63.07%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on T shares. HSBC downgraded AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a report on Thursday, July 24th. Cowen reiterated a "hold" rating on shares of AT&T in a report on Thursday, April 24th. Bank of America assumed coverage on AT&T in a report on Monday, July 7th. They issued a "buy" rating and a $32.00 price target for the company. Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. Finally, Morgan Stanley increased their price target on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $29.66.

About AT&T

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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