Mirae Asset Global Investments Co. Ltd. Boosts Stake in AT&T Inc. (NYSE:T)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 21.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 771,294 shares of the technology company's stock after purchasing an additional 135,963 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in AT&T were worth $21,679,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Minot DeBlois Advisors LLC purchased a new position in shares of AT&T in the 4th quarter worth about $25,000. Capital A Wealth Management LLC purchased a new stake in AT&T in the fourth quarter worth approximately $25,000. Putney Financial Group LLC purchased a new stake in AT&T in the fourth quarter worth approximately $27,000. Ball & Co Wealth Management Inc. purchased a new stake in AT&T in the fourth quarter worth approximately $30,000. Finally, REAP Financial Group LLC boosted its stake in AT&T by 115.2% in the fourth quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company's stock worth $31,000 after buying an additional 727 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

T has been the subject of several analyst reports. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Tigress Financial increased their price objective on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley reissued an "overweight" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Citigroup reiterated a "buy" rating on shares of AT&T in a report on Tuesday, June 17th. Finally, JPMorgan Chase & Co. increased their target price on shares of AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.90.

AT&T Stock Up 0.3%

Shares of NYSE:T opened at $28.08 on Friday. The stock has a fifty day simple moving average of $27.63 and a two-hundred day simple moving average of $25.95. The stock has a market capitalization of $202.02 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 3.98 and a beta of 0.41. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.03. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. AT&T's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS. On average, research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.95%. AT&T's dividend payout ratio (DPR) is presently 68.10%.

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.

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