AT&T Inc. $T Stock Bought by Vestor Capital LLC

Key Points

• Vestor Capital increased its AT&T holdings by 1,799.1% in the third quarter, adding 312,336 shares to reach 329,697 shares valued at about $8.0 million. Institutional investors collectively own 57.1% of the company.
• AT&T beat quarterly expectations, reporting earnings of $0.65 per share and revenue of $32.32 billion; revenue grew 5.2% year over year. The company’s quarterly dividend of $0.2775 equates to an annualized yield of about 5.1%.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $27.56. Shares opened at $21.76 in the report.

Vestor Capital LLC grew its holdings in AT&T Inc. (NYSE:T - Free Report) by 1,799.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 329,697 shares of the technology company's stock after purchasing an additional 312,336 shares during the period. Vestor Capital LLC's holdings in AT&T were worth $8,045,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in T. State Street Corp increased its stake in AT&T by 5.8% in the 2nd quarter. State Street Corp now owns 334,273,613 shares of the technology company's stock valued at $6,919,464,000 after buying an additional 18,468,679 shares during the last quarter. Bank of America Corp DE lifted its position in AT&T by 4.6% during the 1st quarter. Bank of America Corp DE now owns 125,191,700 shares of the technology company's stock worth $3,629,307,000 after buying an additional 5,449,222 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of AT&T by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 75,323,574 shares of the technology company's stock worth $1,559,198,000 after buying an additional 2,559,065 shares during the last quarter. GQG Partners LLC acquired a new position in shares of AT&T during the 2nd quarter worth about $1,223,364,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of AT&T by 2.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,616,152 shares of the technology company's stock worth $1,151,254,000 after buying an additional 1,336,556 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Stock Up 0.6%

Shares of T stock opened at $21.76 on Tuesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.82 and a current ratio of 0.87. The firm's 50-day moving average is $23.88 and its 200-day moving average is $24.91. The stock has a market cap of $146.60 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.08 and a beta of 0.30. AT&T Inc. has a 52-week low of $19.89 and a 52-week high of $29.43.

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

AT&T Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Scotiabank decreased their price target on AT&T from $27.50 to $26.50 and set a "sector perform" rating for the company in a research note on Friday, October 9th. Sanford C. Bernstein cut AT&T from an "outperform" rating to a "market perform" rating and set a $24.00 price objective on the stock. in a research note on Tuesday, October 13th. BNP Paribas Exane upgraded AT&T from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $26.00 to $30.00 in a research note on Monday, September 21st. The Goldman Sachs Group set a $27.00 price objective on AT&T in a report on Wednesday, October 21st. Finally, Wolfe Research raised shares of AT&T from a "peer perform" rating to an "outperform" rating and set a $29.00 target price for the company in a research note on Thursday, July 23rd. Twelve research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $27.56.

About AT&T

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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