Ontario Teachers Pension Plan Board Has $338.21 Million Position in AT&T Inc. (NYSE:T)

Key Points

• Ontario Teachers Pension Plan Board significantly increased its stake in AT&T by 30,527.5% during the first quarter, owning about 11.96 million shares valued at $338.21 million.
• AT&T recently reported an EPS of $0.54 for the latest quarter, exceeding the consensus estimate of $0.53, with revenue of $30.85 billion, up 3.4% year-over-year.
• The company declared a quarterly dividend of $0.2775 per share with an annualized yield of 4.0%, and its current dividend payout ratio is 63.07%.

Ontario Teachers Pension Plan Board raised its position in shares of AT&T Inc. (NYSE:T - Free Report) by 30,527.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,959,440 shares of the technology company's stock after purchasing an additional 11,920,392 shares during the period. AT&T accounts for about 5.0% of Ontario Teachers Pension Plan Board's investment portfolio, making the stock its 4th largest position. Ontario Teachers Pension Plan Board owned approximately 0.17% of AT&T worth $338,213,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after acquiring an additional 10,188 shares during the last quarter. Yoffe Investment Management LLC bought a new stake in AT&T during the fourth quarter worth approximately $213,000. FIL Ltd grew its holdings in AT&T by 6.7% during the fourth quarter. FIL Ltd now owns 46,158 shares of the technology company's stock valued at $1,051,000 after purchasing an additional 2,897 shares during the last quarter. Advisory Services Network LLC raised its position in shares of AT&T by 31.9% in the fourth quarter. Advisory Services Network LLC now owns 400,205 shares of the technology company's stock valued at $9,113,000 after purchasing an additional 96,684 shares during the period. Finally, Faithward Advisors LLC raised its position in shares of AT&T by 8.5% in the fourth quarter. Faithward Advisors LLC now owns 28,720 shares of the technology company's stock valued at $654,000 after purchasing an additional 2,246 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of T stock traded up $0.02 during mid-day trading on Friday, reaching $28.08. The company's stock had a trading volume of 23,594,470 shares, compared to its average volume of 34,716,284. The firm's 50-day moving average is $27.83 and its two-hundred day moving average is $26.97. The company has a market cap of $200.78 billion, a P/E ratio of 15.95, a PEG ratio of 3.48 and a beta of 0.42. AT&T Inc. has a 1-year low of $18.97 and a 1-year high of $29.19. 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 (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, topping analysts' consensus estimates of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. On average, research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.0%. AT&T's dividend payout ratio (DPR) is presently 63.07%.

Analyst Ratings Changes

A number of research analysts recently issued reports on T shares. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Bank of America started coverage on shares of AT&T in a report on Monday, July 7th. They set a "buy" rating and a $32.00 price target for the company. Cowen reiterated a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Citigroup reissued a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. Finally, Wells Fargo & Company raised their target price on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and an average target price of $29.66.

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.