US Bancorp DE Purchases 80,536 Shares of AT&T Inc. $T

Key Points

• US Bancorp DE increased its holdings in AT&T Inc. by 4.0%, acquiring an additional 80,536 shares during the 2nd quarter, bringing its total ownership to over 2 million shares valued at approximately $60.27 million.
• Several institutional investors, including Kingstone Capital Partners and Ontario Teachers Pension Plan Board, significantly boosted their stakes in AT&T, contributing to a combined institutional ownership of 57.10% of the company's stock.
• AT&T recently announced a quarterly dividend of $0.2775, yielding 4.2%, with the payout date set for November 3rd, benefiting investors who hold shares by the October 10th record date.

US Bancorp DE grew its position in shares of AT&T Inc. (NYSE:T - Free Report) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,082,644 shares of the technology company's stock after buying an additional 80,536 shares during the quarter. US Bancorp DE's holdings in AT&T were worth $60,272,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of T. Kingstone Capital Partners Texas LLC purchased a new position in AT&T in the second quarter valued at approximately $5,266,758,000. Nuveen LLC purchased a new position in AT&T in the first quarter valued at approximately $1,072,128,000. GQG Partners LLC lifted its stake in AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock valued at $3,222,711,000 after purchasing an additional 17,177,874 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its stake in AT&T by 30,527.5% in the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock valued at $338,213,000 after purchasing an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in AT&T by 350.4% in the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company's stock valued at $321,372,000 after purchasing an additional 8,841,126 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on T. Raymond James Financial reiterated a "strong-buy" rating and issued a $33.00 price objective (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. UBS Group set a $33.00 price objective on AT&T in a research note on Thursday, September 18th. Barclays reissued an "equal weight" rating and set a $30.00 target price on shares of AT&T in a report on Wednesday, October 1st. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Sanford C. Bernstein boosted their target price on shares of AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $30.75.

AT&T Trading Down 0.5%

AT&T stock opened at $26.12 on Friday. The stock has a market cap of $186.77 billion, a P/E ratio of 14.84, a PEG ratio of 3.36 and a beta of 0.42. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The firm's fifty day moving average price is $28.49 and its 200-day moving average price is $27.89. 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 released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

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

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