Avanza Fonder AB Has $14.21 Million Position in AT&T Inc. $T

Key Points

• Avanza Fonder AB increased its stake in AT&T Inc. by 3.2% during the second quarter, now holding 490,870 shares valued at approximately $14.2 million.
• AT&T's recent quarterly earnings report indicated an EPS of $0.54, surpassing analysts' expectations and showing a 3.4% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.2775 per share, representing an annualized yield of 3.8% and a dividend payout ratio of 63.07%.

Avanza Fonder AB boosted its position in shares of AT&T Inc. (NYSE:T - Free Report) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 490,870 shares of the technology company's stock after buying an additional 15,035 shares during the quarter. Avanza Fonder AB's holdings in AT&T were worth $14,206,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Brighton Jones LLC grew its position in shares of AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after purchasing an additional 10,188 shares during the period. Yoffe Investment Management LLC acquired a new position in AT&T during the fourth quarter worth about $213,000. Retirement Planning Group LLC boosted its position in AT&T by 30.8% during the fourth quarter. Retirement Planning Group LLC now owns 16,259 shares of the technology company's stock worth $370,000 after acquiring an additional 3,831 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in AT&T during the fourth quarter worth about $160,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in AT&T during the fourth quarter worth about $262,000. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on T shares. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a research note on Thursday. Morgan Stanley boosted their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. UBS Group set a $33.00 price target on shares of AT&T in a report on Thursday. Finally, The Goldman Sachs Group started coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $30.74.

AT&T Stock Down 0.5%

Shares of NYSE T traded down $0.16 during trading hours on Friday, hitting $29.04. The stock had a trading volume of 62,059,787 shares, compared to its average volume of 29,475,850. The company has a market capitalization of $207.65 billion, a P/E ratio of 16.50, a P/E/G ratio of 3.59 and a beta of 0.44. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The firm's 50-day moving average price is $28.45 and its two-hundred day moving average price is $27.83. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. During the same quarter in the prior year, the business earned $0.51 earnings per share. The company's revenue was up 3.4% on a year-over-year basis. Analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's dividend payout ratio (DPR) is 63.07%.

AT&T 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.