Deseret Mutual Benefit Administrators Has $538,000 Stock Position in AT&T Inc. (NYSE:T)

Deseret Mutual Benefit Administrators lessened its holdings in shares of AT&T Inc. (NYSE:T) by 6.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 24,459 shares of the technology company’s stock after selling 1,729 shares during the period. Deseret Mutual Benefit Administrators’ holdings in AT&T were worth $538,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in T. Vanguard Group Inc. boosted its stake in shares of AT&T by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after purchasing an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after acquiring an additional 5,592,123 shares during the last quarter. Legal & General Group Plc grew its holdings in AT&T by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after acquiring an additional 1,569,374 shares during the period. Ameriprise Financial Inc. raised its position in shares of AT&T by 2.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after acquiring an additional 1,007,228 shares during the last quarter. Finally, LSV Asset Management lifted its stake in shares of AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after purchasing an additional 315,580 shares during the period. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Oppenheimer upped their price objective on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. TD Cowen raised their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. Tigress Financial raised their price objective on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Wells Fargo & Company decreased their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Price Performance

AT&T stock opened at $22.28 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a 52 week low of $15.46 and a 52 week high of $22.73. The stock has a market capitalization of $159.87 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 3.29 and a beta of 0.59. The stock has a fifty day moving average of $21.61 and a 200-day moving average of $19.46.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the prior year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, sell-side analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio is 90.24%.

About AT&T

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.