AT&T Inc. (NYSE:T) Shares Bought by Forsta AP Fonden

Forsta AP Fonden grew its holdings in shares of AT&T Inc. (NYSE:T) by 7.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,157,800 shares of the technology company’s stock after buying an additional 148,800 shares during the quarter. Forsta AP Fonden’s holdings in AT&T were worth $47,472,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Davidson Kempner Capital Management LP bought a new position in AT&T during the second quarter worth $23,888,000. Talbot Financial LLC bought a new position in AT&T during the third quarter worth $7,438,000. Mackenzie Financial Corp lifted its stake in AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after purchasing an additional 288,093 shares during the last quarter. DRW Securities LLC lifted its stake in AT&T by 642.2% during the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after purchasing an additional 90,255 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in AT&T by 4.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after purchasing an additional 43,062 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on T shares. Evercore ISI raised their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AT&T has an average rating of “Moderate Buy” and an average price target of $23.40.

AT&T Price Performance

T stock traded down $0.37 during trading hours on Friday, hitting $21.83. 26,050,390 shares of the stock traded hands, compared to its average volume of 35,713,988. The stock has a 50-day simple moving average of $21.20 and a 200 day simple moving average of $19.12. The company has a market cap of $156.52 billion, a P/E ratio of 11.74, a P/E/G ratio of 3.67 and a beta of 0.60. AT&T Inc. has a one year low of $14.74 and a one year high of $22.58. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same quarter last year, the firm posted $0.64 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.08%. AT&T’s dividend payout ratio is currently 59.68%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.