AT&T Inc. $T Position Increased by Zurich Insurance Group Ltd FI

Key Points

• Zurich Insurance Group Ltd FI increased its holdings in AT&T Inc. by 207.4% in Q1, owning over 4.4 million shares valued at approximately $125 million.
• Multiple institutional investors, including GQG Partners and Ontario Teachers Pension Plan Board, have significantly increased their positions in AT&T, highlighting ongoing interest in the stock.
• Analysts have raised their price targets for AT&T, with recent reports giving the stock an average target price of $30.60 and a consensus rating of "Moderate Buy."

Zurich Insurance Group Ltd FI raised its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 207.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,435,404 shares of the technology company's stock after acquiring an additional 2,992,699 shares during the period. AT&T makes up 1.0% of Zurich Insurance Group Ltd FI's investment portfolio, making the stock its 24th biggest holding. Zurich Insurance Group Ltd FI owned 0.06% of AT&T worth $125,433,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Minot DeBlois Advisors LLC acquired a new position in AT&T during the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new position in shares of AT&T during the 4th quarter worth approximately $25,000. Stone House Investment Management LLC purchased a new stake in shares of AT&T in the first quarter valued at $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T in the fourth quarter valued at $27,000. Finally, Hager Investment Management Services LLC grew its stake in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after acquiring an additional 641 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of T traded down $0.21 during mid-day trading on Wednesday, hitting $29.21. The company's stock had a trading volume of 25,362,819 shares, compared to its average volume of 28,433,638. The firm has a 50-day moving average price of $28.26 and a 200 day moving average price of $27.69. The stock has a market capitalization of $208.88 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 3.66 and a beta of 0.44. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data 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 company 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 revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS. On average, research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company 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 of this dividend 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 currently 63.07%.

Wall Street Analyst Weigh In

T has been the subject of several recent analyst reports. UBS Group set a $32.00 price target on AT&T in a report on Thursday, September 4th. Bank of America began coverage on AT&T in a report on Monday, July 7th. They issued a "buy" rating and a $32.00 price target for the company. Wells Fargo & Company upped their price target on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Morgan Stanley increased their target price on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, Hsbc Global Res cut AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $30.60.

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.