Dai ichi Life Insurance Company Ltd Increases Stake in AT&T Inc. (NYSE:T)

Dai ichi Life Insurance Company Ltd raised its stake in shares of AT&T Inc. (NYSE:T) by 41.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 958,034 shares of the technology company’s stock after purchasing an additional 279,646 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in AT&T were worth $21,077,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in T. 1832 Asset Management L.P. raised its holdings in AT&T by 70.1% in the 1st quarter. 1832 Asset Management L.P. now owns 2,375 shares of the technology company’s stock worth $42,000 after purchasing an additional 979 shares during the period. Caxton Associates LP raised its holdings in shares of AT&T by 207.6% during the first quarter. Caxton Associates LP now owns 51,025 shares of the technology company’s stock valued at $898,000 after acquiring an additional 34,437 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in AT&T by 12.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 409,674 shares of the technology company’s stock valued at $7,210,000 after purchasing an additional 44,189 shares in the last quarter. Tidal Investments LLC boosted its position in AT&T by 1.6% during the first quarter. Tidal Investments LLC now owns 537,694 shares of the technology company’s stock worth $9,461,000 after acquiring an additional 8,271 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new stake in shares of AT&T in the first quarter valued at approximately $295,000. 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 issued reports on T. Barclays raised their price target on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Wells Fargo & Company decreased their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Tigress Financial upped their target price on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Oppenheimer lifted their target price on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Performance

NYSE:T opened at $23.10 on Tuesday. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $23.32. The company has a market cap of $165.75 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 3.48 and a beta of 0.59. The firm’s 50-day moving average is $22.04 and its 200-day moving average is $20.00. 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 (NYSE:T) last released its quarterly earnings data 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 return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same period in the prior year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared 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 4.81%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

AT&T 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.