Norinchukin Bank The Raises Stock Position in AT&T Inc. $T

Key Points

• Norinchukin Bank The increased its holdings in AT&T Inc. by 14.2%, now owning 347,703 shares valued at approximately $9.83 million as of the latest reporting period.
• Analysts' opinions on AT&T's stock vary, with a consensus price target of $30.21 and an average rating of "Moderate Buy."
• AT&T reported a quarterly earnings per share of $0.54, exceeding estimates, with a revenue of $30.85 billion, up 3.4% year-over-year.

Norinchukin Bank The grew its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 14.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 347,703 shares of the technology company's stock after buying an additional 43,120 shares during the quarter. Norinchukin Bank The's holdings in AT&T were worth $9,833,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Integras Partners LLC purchased a new position in AT&T in the first quarter worth about $250,000. CW Advisors LLC boosted its holdings in shares of AT&T by 176.0% in the 1st quarter. CW Advisors LLC now owns 347,945 shares of the technology company's stock worth $9,554,000 after purchasing an additional 221,864 shares during the period. United Asset Strategies Inc. boosted its holdings in shares of AT&T by 105.1% in the 1st quarter. United Asset Strategies Inc. now owns 22,503 shares of the technology company's stock worth $636,000 after purchasing an additional 11,532 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of AT&T by 32.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,435,357 shares of the technology company's stock valued at $973,833,000 after purchasing an additional 8,355,686 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. raised its holdings in AT&T by 19.6% during the 1st quarter. Luts & Greenleigh Group Inc. now owns 20,225 shares of the technology company's stock valued at $572,000 after buying an additional 3,320 shares during the period. Institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on T shares. Williams Trading set a $30.00 price objective on shares of AT&T in a research note on Thursday, April 24th. Morgan Stanley increased their price target on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. HSBC lowered shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective on the stock. in a report on Thursday, July 24th. Citigroup reiterated a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. Finally, Wall Street Zen raised AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and a consensus price target of $30.21.

AT&T Stock Performance

T opened at $29.2660 on Thursday. The firm has a fifty day moving average price of $27.96 and a 200 day moving average price of $27.29. AT&T Inc. has a 1 year low of $19.40 and a 1 year high of $29.38. The stock has a market cap of $209.26 billion, a P/E ratio of 16.63, a P/E/G ratio of 3.58 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share 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 during the quarter, compared to analysts' expectations of $30.44 billion. During the same quarter in the previous year, the company earned $0.51 earnings per share. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. Equities research 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 was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. AT&T's dividend payout ratio (DPR) is currently 63.07%.

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.

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