TIAA Trust National Association Has $7.11 Million Stake in AT&T Inc. (NYSE:T)

Key Points

• TIAA Trust National Association has increased its stake in AT&T Inc. by 9.4%, now holding shares worth $7.11 million.
• Several institutional investors, including Northern Trust Corp and UBS AM, have also raised their stakes in AT&T during the fourth quarter, indicating strong interest in the stock.
• AT&T's recent quarterly earnings report revealed $0.54 EPS, exceeding expectations and showing a revenue growth of 3.4% year-over-year.

TIAA Trust National Association increased its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 9.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 251,515 shares of the technology company's stock after acquiring an additional 21,529 shares during the period. TIAA Trust National Association's holdings in AT&T were worth $7,113,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in T. Northern Trust Corp increased its stake in AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after buying an additional 10,945,679 shares during the last quarter. Capital World Investors increased its stake in AT&T by 5.2% in the 4th quarter. Capital World Investors now owns 57,425,387 shares of the technology company's stock valued at $1,307,576,000 after buying an additional 2,841,837 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in AT&T by 31.8% in the 4th 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 buying an additional 12,881,578 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in AT&T by 6.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 52,032,367 shares of the technology company's stock valued at $1,184,717,000 after buying an additional 2,992,073 shares during the last quarter. Finally, Invesco Ltd. increased its stake in AT&T by 18.2% in the 4th quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock valued at $1,085,034,000 after buying an additional 7,347,354 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a research report on Thursday, July 24th. Morgan Stanley lifted their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Barclays lifted their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. UBS Group reissued a "buy" rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Finally, Wells Fargo & Company lifted their price objective on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $29.66.

AT&T Trading Up 1.3%

Shares of NYSE T opened at $27.76 on Friday. 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 Inc. has a 52-week low of $18.64 and a 52-week high of $29.19. The firm has a 50 day moving average price of $27.80 and a two-hundred day moving average price of $26.85. The stock has a market cap of $198.49 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 3.44 and a beta of 0.42.

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, beating 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 firm had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. During the same period in the prior year, the company posted $0.51 EPS. The company's revenue was up 3.4% on a year-over-year basis. As a group, equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.0%. AT&T's dividend payout ratio is 63.07%.

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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