Tredje AP fonden Grows Holdings in AT&T Inc. (NYSE:T)

Key Points

• Tredje AP fonden has increased its stake in AT&T Inc. by 9.1%, owning approximately $33.93 million worth of shares as of the latest SEC disclosure.
• Wall Street analysts are optimistic about AT&T's performance, with several firms, including JPMorgan and Morgan Stanley, raising their price targets and rating the stock as "overweight."
• AT&T recently reported quarterly earnings of $0.54 EPS, exceeding expectations, along with a declared dividend of $0.2775 per share scheduled for payment on August 1st.

Tredje AP fonden increased its position in shares of AT&T Inc. (NYSE:T - Free Report) by 9.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,199,675 shares of the technology company's stock after acquiring an additional 99,675 shares during the period. Tredje AP fonden's holdings in AT&T were worth $33,927,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock valued at $3,719,723,000 after acquiring an additional 2,640,644 shares during the last quarter. Northern Trust Corp increased its holdings 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 worth $1,779,438,000 after purchasing an additional 10,945,679 shares in the last quarter. Capital World Investors raised its position in AT&T by 5.2% in the fourth quarter. Capital World Investors now owns 57,425,387 shares of the technology company's stock valued at $1,307,576,000 after purchasing an additional 2,841,837 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 purchasing an additional 12,881,578 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of AT&T by 6.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 52,032,367 shares of the technology company's stock valued at $1,184,717,000 after purchasing an additional 2,992,073 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Raymond James Financial reiterated a "strong-buy" rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Thursday, July 24th. UBS Group reiterated a "buy" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Wells Fargo & Company increased their price objective on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Cowen reaffirmed a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Tigress Financial lifted their target price on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. One 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, AT&T presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.66.

AT&T Stock Up 0.3%

Shares of NYSE T traded up $0.09 during trading on Wednesday, hitting $27.50. 30,063,016 shares of the company traded hands, compared to its average volume of 31,821,926. The firm has a market capitalization of $196.64 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 3.40 and a beta of 0.42. The business's fifty day moving average is $27.79 and its 200 day moving average is $26.73. 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 fifty-two week low of $18.64 and a fifty-two week high of $29.19.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The business had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the prior year, the business earned $0.51 EPS. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.04%. AT&T's dividend payout ratio (DPR) is presently 63.07%.

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.