AT&T Inc. $T Shares Bought by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in AT&T by 6.1%, holding 903,577 shares worth approximately $25.55 million at the end of the last reporting period.
• AT&T reported a Q2 earnings per share (EPS) of $0.54, beating expectations, with revenue of $30.85 billion, reflecting a 3.4% increase year-over-year.
• The company announced a quarterly dividend of $0.2775 per share, leading to an annualized dividend of $1.11 and a yield of 3.9%.

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 6.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 903,577 shares of the technology company's stock after buying an additional 51,918 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in AT&T were worth $25,553,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Minot DeBlois Advisors LLC purchased a new position in shares of AT&T during the fourth quarter worth $25,000. Capital A Wealth Management LLC purchased a new stake in AT&T in the fourth quarter valued at $25,000. Stone House Investment Management LLC acquired a new stake in AT&T during the 1st quarter worth about $25,000. Putney Financial Group LLC purchased a new position in shares of AT&T during the 4th quarter valued at about $27,000. Finally, Hager Investment Management Services LLC raised its stake in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after buying an additional 641 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Down 2.4%

Shares of T stock opened at $28.7290 on Monday. 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 company has a market cap of $205.42 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 3.56 and a beta of 0.42. The stock has a 50 day simple moving average of $27.99 and a 200-day simple moving average of $27.40. AT&T Inc. has a 1-year low of $19.51 and a 1-year high of $29.65.

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, beating analysts' consensus estimates of $0.53 by $0.01. The firm had revenue of $30.85 billion for 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 quarter last year, the company earned $0.51 EPS. On average, equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

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

Analyst Upgrades and Downgrades

T has been the topic of a number of recent research reports. Scotiabank upped their target price on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 11th. UBS Group reissued a "buy" rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Hsbc Global Res lowered AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Morgan Stanley raised their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Tigress Financial lifted their target price on shares of AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $30.21.

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.

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