KLP Kapitalforvaltning AS Acquires 94,100 Shares of AT&T Inc. $T

Key Points

• KLP Kapitalforvaltning AS increased its stake in AT&T Inc. by 2.7%, acquiring an additional 94,100 shares, bringing its total holdings to approximately 3.55 million shares valued at about $102.88 million.
• AT&T has announced a quarterly dividend of $0.2775 per share, with a dividend yield of 4.3%, indicating robust returns for shareholders.
• Despite recent stock performance, analysts maintain a consensus rating of "Moderate Buy" for AT&T, with a target price averaging $30.75 per share.

KLP Kapitalforvaltning AS grew its holdings in AT&T Inc. (NYSE:T - Free Report) by 2.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,554,964 shares of the technology company's stock after acquiring an additional 94,100 shares during the period. KLP Kapitalforvaltning AS's holdings in AT&T were worth $102,881,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. CHURCHILL MANAGEMENT Corp lifted its stake in shares of AT&T by 1.5% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company's stock worth $9,380,000 after buying an additional 4,793 shares during the last quarter. Capstone Wealth Management LLC acquired a new stake in shares of AT&T in the first quarter worth $201,000. Kickstand Ventures LLC. acquired a new stake in shares of AT&T in the second quarter worth $489,000. ASR Vermogensbeheer N.V. lifted its stake in shares of AT&T by 1.4% in the second quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company's stock worth $20,910,000 after buying an additional 9,970 shares during the last quarter. Finally, Xponance Inc. lifted its stake in shares of AT&T by 10.2% in the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company's stock worth $31,389,000 after buying an additional 102,419 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Down 4.4%

Shares of AT&T stock opened at $25.88 on Tuesday. The firm has a market capitalization of $185.05 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42. 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 company's fifty day moving average price is $28.56 and its two-hundred day moving average price is $27.92. 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 quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion for 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 business's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 EPS. On average, analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. AT&T's dividend payout ratio is presently 63.07%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on T shares. Citigroup restated a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. HSBC cut shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a research note on Thursday, July 24th. 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 note on Thursday, July 10th. Scotiabank set a $30.25 target price on shares of AT&T and gave the company a "sector perform" rating in a research note on Monday. Finally, UBS Group set a $33.00 target price on shares of AT&T in a research note on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $30.75.

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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