AT&T Inc. $T Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in AT&T Inc. by 14.5% during the first quarter, owning over 2 million shares valued at approximately $58.39 million.
• Institutional investors collectively own 57.10% of AT&T, with significant increases in positions from firms like Vanguard Group and GQG Partners.
• AT&T recently declared a quarterly dividend of $0.2775, resulting in an annualized dividend of $1.11 and a yield of 3.8%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in AT&T Inc. (NYSE:T - Free Report) by 14.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,064,952 shares of the technology company's stock after acquiring an additional 261,743 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in AT&T were worth $58,392,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its position in shares of AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after buying an additional 10,188 shares in the last quarter. Yoffe Investment Management LLC acquired a new position in shares of AT&T during the fourth quarter worth about $213,000. CoreCap Advisors LLC grew its position in shares of AT&T by 23.9% during the fourth quarter. CoreCap Advisors LLC now owns 64,841 shares of the technology company's stock worth $1,476,000 after buying an additional 12,489 shares in the last quarter. EP Wealth Advisors LLC grew its position in shares of AT&T by 31.7% during the fourth quarter. EP Wealth Advisors LLC now owns 205,279 shares of the technology company's stock worth $4,674,000 after buying an additional 49,386 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of AT&T by 455.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,990,732 shares of the technology company's stock worth $45,329,000 after buying an additional 1,632,098 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on T shares. Bank of America started coverage on AT&T in a research note on Monday, July 7th. They set a "buy" rating and a $32.00 target price for the company. UBS Group set a $32.00 target price on AT&T in a research note on Thursday. The Goldman Sachs Group started coverage on AT&T in a research note on Tuesday, September 2nd. They set a "buy" rating and a $32.00 target price for the company. HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a research note on Thursday, July 24th. Finally, Citigroup restated a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of "Moderate Buy" and an average target price of $30.60.

AT&T Stock Performance

Shares of AT&T stock traded down $0.69 during trading hours on Monday, hitting $28.91. 40,572,915 shares of the company were exchanged, compared to its average volume of 27,213,860. AT&T Inc. has a 1 year low of $20.92 and a 1 year high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average of $28.23 and a 200-day moving average of $27.65. The stock has a market capitalization of $206.68 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 3.66 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 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 business had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. During the same quarter in the prior year, the business 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 expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's dividend payout ratio is currently 63.07%.

AT&T 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.