37,911,174 Shares in AT&T Inc. (NYSE:T) Purchased by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new position in AT&T Inc., purchasing 37.9 million shares valued at approximately $1.07 billion, representing a 0.53% ownership stake in the company.
• AT&T reported an earnings per share (EPS) of $0.54 for the last quarter, surpassing the consensus estimate of $0.53, and achieving a revenue of $30.85 billion against expectations of $30.44 billion.
• The company declared a quarterly dividend of $0.2775 per share, translating to a 4.0% dividend yield, with a payout ratio of 63.07%.

Nuveen LLC bought a new stake in AT&T Inc. (NYSE:T - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 37,911,174 shares of the technology company's stock, valued at approximately $1,072,128,000. Nuveen LLC owned approximately 0.53% of AT&T as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Hager Investment Management Services LLC boosted its holdings in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after purchasing an additional 641 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in AT&T during the first quarter worth $29,000. Core Alternative Capital boosted its holdings in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after purchasing an additional 568 shares during the last quarter. Capital A Wealth Management LLC acquired a new position in AT&T during the fourth quarter worth $25,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in AT&T in the fourth quarter valued at $25,000. Institutional investors own 57.10% of the company's stock.

AT&T Stock Up 1.3%

Shares of AT&T stock traded up $0.37 during trading on Tuesday, reaching $28.51. 30,754,806 shares of the company traded hands, compared to its average volume of 37,614,555. The firm has a market capitalization of $203.86 billion, a PE ratio of 16.20, a P/E/G ratio of 3.48 and a beta of 0.42. The company has a 50 day moving average price of $27.84 and a 200-day moving average price of $27.11. 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 Inc. has a 1-year low of $18.97 and a 1-year high of $29.19.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 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 analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. AT&T's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 EPS. As a group, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.9%. AT&T's dividend payout ratio is presently 63.07%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on T. Morgan Stanley increased their price target on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company raised their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. raised their price target on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Cowen reissued a "hold" rating on shares of AT&T in a report on Thursday, April 24th. Finally, Tigress Financial raised their target price on shares of AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $29.66.

About AT&T

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.