Nordea Investment Management AB Buys 210,087 Shares of AT&T Inc. $T

Key Points

• Nordea Investment Management AB increased its stake in AT&T by 3.8% in Q2, acquiring an additional 210,087 shares, bringing its total ownership to about 5.7 million shares worth approximately $163.8 million.
• AT&T recently declared a quarterly dividend of $0.2775 per share, representing an annual yield of 4.2%, with dividends paid on November 3rd to shareholders of record by October 10th.
• Research analysts have a generally positive outlook on AT&T, with an average target price of $30.65 and a majority rating of "Buy" or "Moderate Buy" from various firms.

Nordea Investment Management AB raised its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,733,014 shares of the technology company's stock after purchasing an additional 210,087 shares during the period. Nordea Investment Management AB owned 0.08% of AT&T worth $163,764,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Stone House Investment Management LLC bought a new position in shares of AT&T in the 1st quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T in the 2nd quarter worth about $26,000. Hager Investment Management Services LLC raised its position in shares of AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after acquiring an additional 641 shares in the last quarter. Kennebec Savings Bank raised its position in shares of AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company's stock worth $28,000 after acquiring an additional 783 shares in the last quarter. Finally, Core Alternative Capital raised its position in shares of AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after acquiring an additional 568 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on T. Sanford C. Bernstein lifted their price objective on AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, September 4th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research report on Tuesday, August 26th. HSBC lowered AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a research report on Thursday, July 24th. UBS Group set a $33.00 target price on AT&T in a research report on Thursday, September 18th. Finally, Barclays reaffirmed an "equal weight" rating and issued a $30.00 target price on shares of AT&T in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, AT&T has an average rating of "Moderate Buy" and an average target price of $30.65.

AT&T Price Performance

T stock opened at $26.33 on Friday. The company has a market capitalization of $188.24 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 2.12 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. The business has a 50-day simple moving average of $28.27 and a two-hundred day simple moving average of $27.81.

AT&T (NYSE:T - Get Free Report) last released its quarterly 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. The business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. Research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.2%. AT&T's payout ratio is 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.

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