Banco Santander S.A. Buys 73,562 Shares of AT&T Inc. (NYSE:T)

Key Points

• Banco Santander S.A. increased its holdings in AT&T Inc. by 189.4%, acquiring an additional 73,562 shares to reach a total of 112,409 shares worth approximately $3.18 million.
• Multiple institutional investors have also increased their stakes in AT&T, collectively owning 57.10% of the company's stock, indicating strong institutional interest.
• AT&T reported a 3.4% year-over-year revenue increase, with earnings per share beating expectations and a quarterly dividend yield of 4.0%.

Banco Santander S.A. increased its holdings in AT&T Inc. (NYSE:T - Free Report) by 189.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,409 shares of the technology company's stock after acquiring an additional 73,562 shares during the period. Banco Santander S.A.'s holdings in AT&T were worth $3,179,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of T. Brighton Jones LLC grew its holdings 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 acquiring an additional 10,188 shares in the last quarter. Wellington Management Group LLP lifted its stake in AT&T by 161.3% in the fourth quarter. Wellington Management Group LLP now owns 2,522,814 shares of the technology company's stock valued at $57,444,000 after purchasing an additional 1,557,431 shares during the last quarter. Yoffe Investment Management LLC purchased a new position in AT&T in the fourth quarter valued at approximately $213,000. Thoroughbred Financial Services LLC lifted its stake in AT&T by 3.1% in the fourth quarter. Thoroughbred Financial Services LLC now owns 19,544 shares of the technology company's stock valued at $445,000 after purchasing an additional 591 shares during the last quarter. Finally, KCM Investment Advisors LLC lifted its stake in AT&T by 32.9% in the fourth quarter. KCM Investment Advisors LLC now owns 49,075 shares of the technology company's stock valued at $1,117,000 after purchasing an additional 12,149 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on T. Williams Trading set a $30.00 target price on AT&T in a research report on Thursday, April 24th. Cowen restated a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. UBS Group restated a "buy" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Scotiabank increased their target price on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.66.

AT&T Stock Up 1.3%

NYSE T opened at $27.76 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 stock has a market capitalization of $198.49 billion, a PE ratio of 15.77, a PEG ratio of 3.44 and a beta of 0.42. AT&T Inc. has a 1 year low of $18.64 and a 1 year high of $29.19. The business's 50-day moving average is $27.80 and its 200 day moving average is $26.88.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $30.44 billion. During the same period last year, the firm earned $0.51 earnings per share. AT&T's quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 4.0%. AT&T's dividend payout ratio (DPR) is 63.07%.

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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