Tokio Marine Asset Management Co. Ltd. Buys 20,787 Shares of AT&T Inc. (NYSE:T)

Tokio Marine Asset Management Co. Ltd. increased its stake in AT&T Inc. (NYSE:T) by 11.7% during the third quarter, HoldingsChannel reports. The firm owned 198,688 shares of the technology company’s stock after acquiring an additional 20,787 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in AT&T were worth $4,371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Socha Financial Group LLC increased its holdings in shares of AT&T by 2.5% during the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after acquiring an additional 461 shares in the last quarter. Essex Savings Bank increased its stake in AT&T by 2.3% during the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after purchasing an additional 480 shares in the last quarter. Hayek Kallen Investment Management raised its holdings in AT&T by 0.8% in the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after buying an additional 500 shares during the last quarter. Lake Street Advisors Group LLC lifted its stake in shares of AT&T by 0.7% in the third quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company’s stock worth $1,618,000 after buying an additional 513 shares in the last quarter. Finally, Spinnaker Trust grew its holdings in shares of AT&T by 0.4% during the third quarter. Spinnaker Trust now owns 124,593 shares of the technology company’s stock valued at $2,741,000 after buying an additional 515 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T traded up $0.10 during trading hours on Thursday, reaching $22.40. 1,890,831 shares of the stock traded hands, compared to its average volume of 35,407,906. AT&T Inc. has a 52-week low of $15.64 and a 52-week high of $22.73. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The company has a market cap of $160.73 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 3.33 and a beta of 0.59. The company’s 50-day moving average price is $21.82 and its two-hundred day moving average price is $19.65.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating 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 company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter last year, the company earned $0.64 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.96%. AT&T’s dividend payout ratio (DPR) is 90.24%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Oppenheimer boosted their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen boosted their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. Moffett Nathanson boosted their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Citigroup upped their target price on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

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.