Shell Asset Management Co. Has $4.51 Million Stock Holdings in AT&T Inc. $T

Key Points

• Shell Asset Management Co. increased its stake in AT&T by 27.8%, owning 155,883 shares worth approximately $4.51 million as of the end of the latest quarter.
• AT&T reported a quarterly earnings per share (EPS) of $0.54, exceeding analysts' expectations, with revenue of $30.85 billion, marking a 3.4% increase compared to the previous year.
• The company declared a quarterly dividend of $0.2775 per share, with a dividend yield of 4.2%, scheduled for payment on November 3rd to stockholders of record as of October 10th.

Shell Asset Management Co. raised its stake in AT&T Inc. (NYSE:T - Free Report) by 27.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 155,883 shares of the technology company's stock after purchasing an additional 33,866 shares during the period. Shell Asset Management Co.'s holdings in AT&T were worth $4,511,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in AT&T by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock worth $18,411,543,000 after buying an additional 8,185,006 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of AT&T in the second quarter valued at about $5,266,758,000. GQG Partners LLC increased its position in AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in AT&T by 3.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company's stock worth $1,561,514,000 after purchasing an additional 1,783,363 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in AT&T by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company's stock valued at $1,508,411,000 after purchasing an additional 1,307,009 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Trading Up 1.0%

Shares of AT&T stock opened at $26.13 on Wednesday. The firm's 50 day moving average is $28.54 and its 200 day moving average is $27.91. The firm has a market capitalization of $186.85 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 3.31 and a beta of 0.42. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last announced its quarterly 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. 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 the consensus estimate of $30.44 billion. During the same period in the prior year, the business earned $0.51 earnings per share. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, October 10th. AT&T's payout ratio is 63.07%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Hsbc Global Res cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Barclays restated an "equal weight" rating and set a $30.00 price objective on shares of AT&T in a research note on Wednesday, October 1st. Wells Fargo & Company upped their target price on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Sanford C. Bernstein increased their target price on AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Finally, Citigroup reaffirmed a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, AT&T has a consensus rating of "Moderate Buy" and a consensus price target of $30.75.

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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