Voya Investment Management LLC Grows Stock Holdings in AT&T Inc. $T

Key Points

• Voya Investment Management LLC increased its stake in AT&T Inc. by 40.2%, now owning approximately 13.78 million shares valued at $389.8 million.
• AT&T reported a quarterly earnings per share of $0.54, beating the consensus estimate, and had a revenue of $30.85 billion, reflecting a 3.4% year-over-year increase.
• Wall Street analysts have set a consensus rating of "Moderate Buy" for AT&T, with an average target price of $30.60.

Voya Investment Management LLC raised its position in AT&T Inc. (NYSE:T - Free Report) by 40.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,783,497 shares of the technology company's stock after acquiring an additional 3,949,094 shares during the quarter. Voya Investment Management LLC owned approximately 0.19% of AT&T worth $389,797,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of T. Nuveen LLC purchased a new position in shares of AT&T in the first quarter valued at about $1,072,128,000. GQG Partners LLC increased its position in shares of 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 acquiring an additional 17,177,874 shares during the period. 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 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 purchasing an additional 12,881,578 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its stake in shares of AT&T by 30,527.5% during the 1st 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 in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of AT&T by 350.4% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on T. Bank of America began coverage on shares of AT&T in a research note on Monday, July 7th. They set a "buy" rating and a $32.00 target price on the stock. HSBC lowered shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a research note on Thursday, July 24th. Hsbc Global Res lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Scotiabank lifted their target price on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.60.

AT&T Trading Up 1.0%

Shares of NYSE T opened at $29.49 on Friday. The firm's 50 day moving average price is $28.28 and its 200-day moving average price is $27.71. The company has a market cap of $210.87 billion, a PE ratio of 16.76, a P/E/G ratio of 3.63 and a beta of 0.44. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. 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 issued its 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. The firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business's 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. On average, equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors 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 dividend on an annualized basis and a yield of 3.8%. 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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