Deutsche Bank AG Decreases Stock Position in AT&T Inc. (NYSE:T)

Key Points

• Deutsche Bank AG reduced its stake in AT&T Inc. by 4.3% in the first quarter, owning 24,025,871 shares valued at approximately $679 million after selling over a million shares.
• Several analysts have increased their target prices for AT&T, with Scotiabank and TD Securities raising their targets to $30, while Tigress Financial boosted its target to $34.
• AT&T reported a quarterly earnings per share of $0.54, exceeding expectations, with annualized dividends at $1.11 and a yield of 4.0%.

Deutsche Bank AG trimmed its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 4.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,025,871 shares of the technology company's stock after selling 1,079,075 shares during the quarter. Deutsche Bank AG owned 0.33% of AT&T worth $679,452,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of T. AllSquare Wealth Management LLC raised its position in shares of AT&T by 7.1% during the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock worth $161,000 after purchasing an additional 378 shares during the period. Next Level Private LLC raised its stake in shares of AT&T by 0.3% during the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after purchasing an additional 379 shares in the last quarter. Carolinas Wealth Consulting LLC lifted its stake in shares of AT&T by 1.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after acquiring an additional 384 shares during the period. Kozak & Associates Inc. lifted its position in AT&T by 9.4% in the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock worth $126,000 after purchasing an additional 398 shares during the period. Finally, Silver Oak Securities Incorporated lifted its holdings in shares of AT&T by 0.3% in the first quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock valued at $3,222,000 after buying an additional 398 shares during the period. Hedge funds and other institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on T. Scotiabank raised their target price on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. TD Securities boosted their target price on shares of AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research note on Thursday, April 24th. Tigress Financial raised their target price on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Morgan Stanley lifted their price target on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Evercore ISI increased their price objective on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $29.66.

AT&T Stock Performance

Shares of NYSE:T opened at $27.47 on Thursday. 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 business's fifty day moving average price is $27.81 and its two-hundred day moving average price is $26.93. AT&T Inc. has a fifty-two week low of $18.97 and a fifty-two week high of $29.19. The stock has a market capitalization of $196.45 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 3.44 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. The company's quarterly revenue was up 3.4% compared to the same quarter last year. As a group, analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Thursday, July 10th. AT&T's dividend payout ratio is presently 63.07%.

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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