Skandinaviska Enskilda Banken AB publ Has $59.64 Million Stake in AT&T Inc. (NYSE:T)

Key Points

• Skandinaviska Enskilda Banken AB has reduced its holdings in AT&T by 5.0%, now owning approximately 2.1 million shares valued at $59.6 million.
• AT&T reported a Q2 EPS of $0.54, exceeding analysts' expectations, with a revenue of $30.85 billion, which is a 3.4% increase year-over-year.
• The company announced a quarterly dividend of $0.2775, equating to an annual yield of 3.98%, with payments scheduled for August 1st.

Skandinaviska Enskilda Banken AB publ lessened its holdings in AT&T Inc. (NYSE:T - Free Report) by 5.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,108,846 shares of the technology company's stock after selling 111,315 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in AT&T were worth $59,638,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Keystone Financial Group grew its stake in shares of AT&T by 196.3% in the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock worth $5,322,000 after buying an additional 143,744 shares in the last quarter. Capstone Wealth Management LLC acquired a new position in shares of AT&T in the 1st quarter valued at $201,000. World Investment Advisors lifted its stake in shares of AT&T by 36.4% in the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock valued at $5,407,000 after purchasing an additional 63,359 shares during the period. DigitalBridge Group Inc. increased its holdings in AT&T by 14.6% in the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock worth $65,255,000 after acquiring an additional 365,776 shares in the last quarter. Finally, Huber Capital Management LLC raised its position in shares of AT&T by 2.7% in the fourth quarter. Huber Capital Management LLC now owns 577,985 shares of the technology company's stock valued at $13,161,000 after buying an additional 15,000 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Stock Performance

Shares of AT&T stock traded down $0.37 on Monday, hitting $27.63. The stock had a trading volume of 14,170,796 shares, compared to its average volume of 38,013,563. AT&T Inc. has a 52-week low of $18.64 and a 52-week high of $29.19. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The stock has a market cap of $198.84 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 3.49 and a beta of 0.42. The company's 50 day moving average price is $27.81 and its 200 day moving average price is $26.68.

AT&T (NYSE:T - Get Free Report) last announced its earnings results 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 company had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same period last year, the firm earned $0.51 earnings per share. The company's revenue was up 3.4% on a year-over-year basis. On average, research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.02%. The ex-dividend date is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is currently 63.07%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Scotiabank raised their price objective on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. Williams Trading set a $30.00 target price on shares of AT&T in a research report on Thursday, April 24th. Wells Fargo & Company raised their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Hsbc Global Res lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Finally, HSBC lowered shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AT&T currently has an average rating of "Moderate Buy" and a consensus target price of $29.66.

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.