Mirae Asset Global Investments Co. Ltd. Purchases New Stake in AT&T Inc. $T

Key Points

• Mirae Asset Global Investments acquired 1.73 million AT&T shares worth approximately $42.1 million during the third quarter. Institutional investors now own 57.1% of the company.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $28.55, compared with AT&T’s reported share price of $21.45.
• AT&T exceeded quarterly expectations, reporting $0.65 in EPS and $32.32 billion in revenue, while its quarterly dividend remains $0.2775 per share, or a 5.2% annualized yield.

Mirae Asset Global Investments Co. Ltd. bought a new position in AT&T Inc. (NYSE:T - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,726,308 shares of the technology company's stock, valued at approximately $42,122,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Robinswood Financial LLC purchased a new stake in AT&T in the 1st quarter worth approximately $29,000. Orion Capital Management LLC bought a new stake in shares of AT&T in the 2nd quarter worth approximately $26,000. Addison Advisors LLC purchased a new position in shares of AT&T during the second quarter valued at approximately $27,000. North Point Portfolio Managers Corp OH purchased a new position in shares of AT&T during the third quarter valued at approximately $34,000. Finally, Matrix Trust Co raised its holdings in shares of AT&T by 331.8% during the second quarter. Matrix Trust Co now owns 1,494 shares of the technology company's stock valued at $31,000 after acquiring an additional 1,148 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on T. The Goldman Sachs Group set a $27.00 price objective on AT&T in a research report on Wednesday, October 21st. TD Cowen restated a "hold" rating and issued a $33.00 target price on shares of AT&T in a research note on Thursday, October 22nd. Argus restated a "buy" rating and set a $30.00 price target on shares of AT&T in a research report on Thursday, October 22nd. Morgan Stanley reduced their price target on AT&T from $28.00 to $25.00 and set an "overweight" rating on the stock in a research note on Thursday, October 22nd. Finally, Sanford C. Bernstein cut AT&T from an "outperform" rating to a "market perform" rating and set a $24.00 price target on the stock. in a research note on Tuesday, October 13th. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $28.55.

AT&T Trading Up 0.2%

Shares of AT&T stock opened at $21.45 on Monday. The company's fifty day simple moving average is $24.36 and its 200-day simple moving average is $24.96. The stock has a market capitalization of $144.50 billion, a PE ratio of 11.59, a P/E/G ratio of 1.06 and a beta of 0.30. AT&T Inc. has a 1-year low of $19.89 and a 1-year high of $29.43. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.87 and a quick ratio of 0.82.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, October 21st. The technology company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.05. AT&T had a net margin of 10.19% and a return on equity of 13.41%. The company had revenue of $32.32 billion for the quarter, compared to analysts' expectations of $31.69 billion. During the same quarter last year, the business earned $0.54 EPS. The firm's revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that AT&T Inc. will post 2.39 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, October 9th. AT&T's dividend payout ratio is 60.00%.

Key Headlines Impacting AT&T

Here are the key news stories impacting AT&T this week:

• Positive Sentiment: Fresh estimates indicate that building a nationwide wireless network would be expensive for SpaceX, reducing the near-term threat to established carriers such as AT&T. T-Mobile’s decision not to pursue an MVNO arrangement with SpaceX also suggests incumbents are not immediately embracing the proposed rival. T-Mobile, SpaceX and wireless competition article
• Positive Sentiment: Televisa expects AT&T’s planned purchase to strengthen its competitive position. A stronger strategic footprint could support AT&T’s long-term growth and operating leverage, although the transaction is expected to increase debt. Televisa expects AT&T purchase to strengthen position
• Neutral Sentiment: Wireless pioneer Ray Dolan suggested mobile internet could eventually become free if carriers monetize data collected from cell-tower sensing. The idea highlights a possible future revenue stream for AT&T, but it is speculative and unlikely to affect near-term earnings. Wireless carriers and free mobile internet article
• Negative Sentiment: AT&T’s dividend payments reportedly fell 46% while the company directed billions toward share repurchases. Buybacks can support per-share earnings and signal management confidence, but the reduced dividend is a drawback for income-focused investors and raises questions about whether capital returns are being shifted away from cash payouts. AT&T dividend payments and stock buybacks article

About AT&T

AT&T Inc NYSE: T is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.

The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.

AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.

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