Czech National Bank Buys 110,142 Shares of AT&T Inc. $T

Key Points

• The Czech National Bank increased its stake in AT&T Inc. by 6.7%, acquiring an additional 110,142 shares during the second quarter, bringing its total holdings to 1,758,860 shares valued at approximately $50.9 million.
• AT&T reported a quarterly earnings per share of $0.54, exceeding analysts' expectations and achieving a net margin of 10.29%, with revenue reaching $30.85 billion.
• Analysts have set new price targets for AT&T, with several firms increasing their estimates; Wells Fargo raised its target from $30.00 to $31.00 and Bank of America initiated coverage with a price objective of $32.00.

Czech National Bank increased its stake in AT&T Inc. (NYSE:T - Free Report) by 6.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,758,860 shares of the technology company's stock after purchasing an additional 110,142 shares during the period. Czech National Bank's holdings in AT&T were worth $50,901,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in T. Nuveen LLC bought a new stake in shares of AT&T during the 1st quarter valued at $1,072,128,000. GQG Partners LLC raised its position in shares of AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock valued at $3,222,711,000 after acquiring an additional 17,177,874 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of AT&T by 31.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock valued at $1,216,665,000 after acquiring an additional 12,881,578 shares during the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of AT&T by 30,527.5% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock valued at $338,213,000 after acquiring an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of AT&T by 350.4% during the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company's stock valued at $321,372,000 after acquiring an additional 8,841,126 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Price Performance

Shares of NYSE T opened at $29.66 on Tuesday. The firm has a market cap of $212.08 billion, a PE ratio of 16.85, a PEG ratio of 3.68 and a beta of 0.44. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79. The company has a fifty day moving average price of $28.33 and a 200 day moving average price of $27.76.

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

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Thursday, July 10th. AT&T's dividend payout ratio is currently 63.07%.

Analysts Set New Price Targets

Several analysts have commented on T shares. Wells Fargo & Company upped their target price on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Scotiabank upped their price objective on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research report on Friday, July 11th. Morgan Stanley upped their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Hsbc Global Res cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Finally, Bank of America began coverage on shares of AT&T in a research report on Monday, July 7th. They issued a "buy" rating and a $32.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.60.

About AT&T

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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