Bank Julius Baer & Co. Ltd Zurich Acquires 52,029 Shares of AT&T Inc. $T

Key Points

• Bank Julius Baer increased its AT&T stake by 6.8% in the third quarter, purchasing 52,029 shares to bring its holdings to 816,612 shares valued at approximately $19.9 million. Institutional investors collectively own 57.1% of AT&T.
• AT&T reported quarterly EPS of $0.65, exceeding estimates of $0.60, while revenue rose 5.2% year over year to $32.32 billion. The company maintains an annualized dividend of $1.11 per share, yielding about 5.2%.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $28.55, although several firms recently lowered their targets. AT&T shares opened at $21.46, near the lower end of their 12-month range.

Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 6.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 816,612 shares of the technology company's stock after purchasing an additional 52,029 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in AT&T were worth $19,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in T. Boit C F David acquired a new position in shares of AT&T in the third quarter worth about $164,000. Virtue Capital Management LLC increased its stake in shares of AT&T by 9.2% in the 3rd quarter. Virtue Capital Management LLC now owns 35,395 shares of the technology company's stock valued at $864,000 after purchasing an additional 2,986 shares in the last quarter. Greenleaf Trust increased its stake in shares of AT&T by 6.3% in the 3rd quarter. Greenleaf Trust now owns 141,142 shares of the technology company's stock valued at $3,444,000 after purchasing an additional 8,382 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of AT&T in the 3rd quarter valued at about $42,122,000. Finally, Aviance Capital Partners LLC raised its holdings in AT&T by 3.3% in the 3rd quarter. Aviance Capital Partners LLC now owns 30,984 shares of the technology company's stock worth $756,000 after purchasing an additional 989 shares during the period. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Price Performance

Shares of AT&T stock opened at $21.46 on Tuesday. The stock has a market capitalization of $144.57 billion, a P/E ratio of 8.66, a PEG ratio of 1.03 and a beta of 0.25. The business has a 50 day simple moving average of $24.28 and a two-hundred day simple moving average of $24.95. AT&T Inc. has a 12 month low of $19.89 and a 12 month high of $29.43. 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 (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.05. AT&T had a return on equity of 13.41% and a net margin of 10.19%. The firm had revenue of $32.32 billion for the quarter, compared to analyst estimates of $31.69 billion. During the same period in the previous year, the company posted $0.54 earnings per share. The business's revenue was up 5.2% on a year-over-year basis. As a group, analysts predict that AT&T Inc. will post 2.39 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Monday, October 12th were issued a $0.2775 dividend. The ex-dividend date was Friday, October 9th. This represents a $1.11 dividend on an annualized basis and a yield of 5.2%. AT&T's dividend payout ratio (DPR) is presently 60.00%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered their price target on AT&T from $33.00 to $31.00 and set an "overweight" rating on the stock in a research report on Thursday, October 22nd. 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 report on Thursday, July 23rd. Sanford C. Bernstein cut AT&T from an "outperform" rating to a "market perform" rating and set a $24.00 price objective for the company. in a research report on Tuesday, October 13th. KeyCorp reduced their target price on AT&T from $36.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, October 22nd. Finally, Barclays decreased their target price on AT&T from $24.00 to $21.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 22nd. Twelve equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, AT&T has a consensus rating of "Moderate Buy" and an average target price of $28.55.

AT&T 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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