Mirae Asset Global Investments Co. Ltd. Has $24.92 Million Position in AT&T Inc. $T

Key Points

• Mirae Asset Global Investments increased its stake in AT&T by 11.6% during Q2, holding 861,004 shares worth approximately $24.92 million.
• AT&T reported a Q2 earnings per share of $0.54, surpassing analyst expectations of $0.53, with a revenue of $30.85 billion, up 3.4% from the previous year.
• The company declared a quarterly dividend of $0.2775, reflecting an annualized dividend of $1.11 and a yield of 4.1%, with a payment date set for November 3rd.

Mirae Asset Global Investments Co. Ltd. grew its position in AT&T Inc. (NYSE:T - Free Report) by 11.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 861,004 shares of the technology company's stock after purchasing an additional 89,710 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in AT&T were worth $24,917,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in T. Brighton Jones LLC boosted its stake in shares of AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after purchasing an additional 10,188 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of AT&T by 24.1% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 14,035 shares of the technology company's stock valued at $397,000 after purchasing an additional 2,725 shares in the last quarter. Beacon Financial Group boosted its stake in shares of AT&T by 2.9% in the 1st quarter. Beacon Financial Group now owns 14,976 shares of the technology company's stock valued at $424,000 after purchasing an additional 417 shares in the last quarter. Fermata Advisors LLC acquired a new stake in shares of AT&T in the 1st quarter valued at $227,000. Finally, Chesley Taft & Associates LLC boosted its stake in shares of AT&T by 5.0% in the 1st quarter. Chesley Taft & Associates LLC now owns 38,503 shares of the technology company's stock valued at $1,089,000 after purchasing an additional 1,832 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Performance

AT&T stock opened at $27.06 on Friday. 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 market cap of $193.49 billion, a PE ratio of 15.38, a PEG ratio of 3.46 and a beta of 0.42. The company's 50-day moving average is $28.60 and its two-hundred day moving average is $27.91.

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

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.1%. AT&T's dividend payout ratio is 63.07%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on T. Sanford C. Bernstein upped their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, September 4th. UBS Group set a $33.00 price target on shares of AT&T in a research report on Thursday, September 18th. Weiss Ratings reiterated a "buy (b)" rating on shares of AT&T in a research report on Saturday, September 27th. Scotiabank upped their price target on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. Finally, Morgan Stanley upped their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, AT&T currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.74.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.