UniSuper Management Pty Ltd Increases Position in AT&T Inc. $T

Key Points

• UniSuper Management Pty Ltd increased its position in AT&T Inc. by 38.0%, acquiring an additional 750,759 shares, raising their total to 2,725,007 shares valued at approximately $77 million.
• AT&T recently reported a quarterly earnings per share (EPS) of $0.54, exceeding estimates, with a revenue of $30.85 billion, an increase of 3.4% year-over-year.
• The company announced a quarterly dividend of $0.2775 per share, equating to an annual yield of 3.8%, with a payout ratio of 63.07%.

UniSuper Management Pty Ltd lifted its holdings in AT&T Inc. (NYSE:T - Free Report) by 38.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,725,007 shares of the technology company's stock after purchasing an additional 750,759 shares during the quarter. AT&T accounts for about 0.6% of UniSuper Management Pty Ltd's investment portfolio, making the stock its 29th biggest holding. UniSuper Management Pty Ltd's holdings in AT&T were worth $77,063,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Minot DeBlois Advisors LLC purchased a new position in shares of AT&T in the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC bought a new position in shares of AT&T in the fourth quarter worth about $25,000. Stone House Investment Management LLC bought a new position in shares of AT&T in the first quarter worth about $25,000. Putney Financial Group LLC bought a new position in shares of AT&T in the fourth quarter worth about $27,000. Finally, Hager Investment Management Services LLC boosted its stake in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after buying an additional 641 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Sanford C. Bernstein increased their price target on AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday. The Goldman Sachs Group started coverage on AT&T in a report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 price target on the stock. Citigroup reiterated a "buy" rating on shares of AT&T in a report on Tuesday, August 26th. Raymond James Financial restated a "strong-buy" rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a report on Thursday, July 24th. Finally, Hsbc Global Res cut AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, AT&T presently has a consensus rating of "Moderate Buy" and an average price target of $30.60.

AT&T Stock Performance

Shares of NYSE T traded down $0.69 during trading on Monday, reaching $28.91. 40,572,915 shares of the company traded hands, compared to its average volume of 27,213,860. The firm's fifty day simple moving average is $28.23 and its 200 day simple moving average is $27.66. The stock has a market cap of $206.68 billion, a P/E ratio of 16.42, a PEG ratio of 3.66 and a beta of 0.44. AT&T Inc. has a 12-month low of $20.92 and a 12-month 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 released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company's revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. As a group, research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal 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 paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. 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.