Raiffeisen Bank International AG Sells 243,145 Shares of AT&T Inc. (NYSE:T)

Key Points

• Raiffeisen Bank International AG has reduced its stake in AT&T by 10.7%, now holding 2,023,928 shares valued at approximately $57 million, making it the bank's 29th largest position.
• Several institutional investors increased their AT&T holdings significantly in the last quarter, with Bridgewater Associates LP raising its stake by 402.3%.
• AT&T's recent earnings report revealed an EPS of $0.54, surpassing estimates, with a revenue of $30.85 billion reflecting a 3.4% year-over-year increase.

Raiffeisen Bank International AG lowered its stake in AT&T Inc. (NYSE:T - Free Report) by 10.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,023,928 shares of the technology company's stock after selling 243,145 shares during the quarter. AT&T accounts for 0.9% of Raiffeisen Bank International AG's portfolio, making the stock its 29th biggest position. Raiffeisen Bank International AG's holdings in AT&T were worth $57,034,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of T. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AT&T by 31.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock valued at $1,216,665,000 after acquiring an additional 12,881,578 shares in the last quarter. Northern Trust Corp raised its holdings in AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after purchasing an additional 10,945,679 shares in the last quarter. Invesco Ltd. raised its holdings in AT&T by 18.2% in the fourth quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock worth $1,085,034,000 after purchasing an additional 7,347,354 shares in the last quarter. Marshall Wace LLP bought a new position in AT&T in the fourth quarter worth $160,747,000. Finally, Bridgewater Associates LP raised its holdings in AT&T by 402.3% in the fourth quarter. Bridgewater Associates LP now owns 6,478,108 shares of the technology company's stock worth $147,507,000 after purchasing an additional 5,188,460 shares in the last quarter. Institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

T has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price objective on AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Bank of America initiated coverage on AT&T in a report on Monday, July 7th. They issued a "buy" rating and a $32.00 price objective for the company. Tigress Financial increased their price objective on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. UBS Group reiterated a "buy" rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Finally, Williams Trading set a $30.00 price objective on AT&T in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and a consensus target price of $29.66.

AT&T Price Performance

NYSE T opened at $27.76 on Friday. AT&T Inc. has a one year low of $18.64 and a one year high of $29.19. The stock has a 50-day moving average of $27.80 and a 200 day moving average of $26.85. The company has a market capitalization of $198.49 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 3.44 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 (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The business's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $0.51 earnings per share. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

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