AT&T Inc. $T Shares Newly Acquired by Associated Banc Corp

Key Points

• Associated Banc Corp acquired a new stake of 52,218 AT&T shares in the third quarter, valued at about $1.27 million. Institutional investors and hedge funds collectively own 57.1% of the stock.
• AT&T reported quarterly earnings of $0.65 per share, topping the $0.60 consensus estimate, while revenue of $32.32 billion also exceeded forecasts and rose 5.2% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $27.56. AT&T’s quarterly dividend is $0.2775 per share, equivalent to an annualized yield of about 5.1%.

Associated Banc Corp bought a new stake in AT&T Inc. (NYSE:T - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 52,218 shares of the technology company's stock, valued at approximately $1,274,000.

Several other institutional investors have also recently modified their holdings of T. Parr Mcknight Wealth Management Group LLC acquired a new position in shares of AT&T during the first quarter valued at $2,901,000. Sound Income Strategies LLC raised its stake in shares of AT&T by 19.8% in the 3rd quarter. Sound Income Strategies LLC now owns 754,818 shares of the technology company's stock worth $18,772,000 after buying an additional 124,997 shares in the last quarter. B.A. Schrock Wealth Management Inc. acquired a new stake in AT&T in the 3rd quarter valued at about $1,583,000. Orographic Financial Advisors LLC bought a new stake in AT&T during the first quarter worth approximately $3,449,000. Finally, Quintet Private Bank Europe S.A. raised its position in shares of AT&T by 44.1% during the third quarter. Quintet Private Bank Europe S.A. now owns 2,451,253 shares of the technology company's stock worth $59,811,000 after purchasing an additional 750,364 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on T shares. Deutsche Bank Aktiengesellschaft reduced their target price on shares of AT&T from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday, October 27th. Citigroup lowered their price objective on AT&T from $31.50 to $28.00 and set a "buy" rating on the stock in a report on Thursday, July 23rd. Wolfe Research raised AT&T from a "peer perform" rating to an "outperform" rating and set a $29.00 price objective on the stock in a research note on Thursday, July 23rd. BNP Paribas Exane upgraded AT&T from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $26.00 to $30.00 in a report on Monday, September 21st. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of AT&T in a research report on Friday, October 30th. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, AT&T presently has a consensus rating of "Hold" and an average target price of $27.56.

AT&T Stock Up 2.4%

AT&T stock opened at $21.89 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.87 and a quick ratio of 0.82. AT&T Inc. has a fifty-two week low of $19.89 and a fifty-two week high of $29.43. The company's 50-day moving average is $24.12 and its 200-day moving average is $24.93. The firm has a market capitalization of $147.50 billion, a PE ratio of 8.95, a P/E/G ratio of 1.06 and a beta of 0.30.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The technology company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.05. The business had revenue of $32.32 billion during the quarter, compared to the consensus estimate of $31.69 billion. AT&T had a return on equity of 13.41% and a net margin of 10.19%. AT&T's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 earnings per share. Sell-side analysts anticipate that AT&T Inc. will post 2.39 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Monday, October 12th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 9th. This represents a $1.11 annualized dividend and a dividend yield of 5.1%. AT&T's dividend payout ratio (DPR) is currently 60.00%.

AT&T Company Profile

AT&T Inc NYSE: T is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.

The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.

AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.

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