The Manufacturers Life Insurance Company Has $155.33 Million Stake in AT&T Inc. (NYSE:T)

The Manufacturers Life Insurance Company raised its position in shares of AT&T Inc. (NYSE:T) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,821,772 shares of the technology company’s stock after buying an additional 35,809 shares during the period. The Manufacturers Life Insurance Company owned about 0.10% of AT&T worth $155,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Passumpsic Savings Bank grew its stake in shares of AT&T by 12.2% during the third quarter. Passumpsic Savings Bank now owns 17,369 shares of the technology company’s stock valued at $382,000 after purchasing an additional 1,893 shares during the last quarter. Sculati Wealth Management LLC boosted its stake in AT&T by 38.9% in the third quarter. Sculati Wealth Management LLC now owns 45,581 shares of the technology company’s stock valued at $1,003,000 after acquiring an additional 12,772 shares during the last quarter. Pine Valley Investments Ltd Liability Co grew its holdings in AT&T by 6.1% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 129,474 shares of the technology company’s stock worth $2,848,000 after acquiring an additional 7,394 shares during the period. World Investment Advisors LLC raised its position in shares of AT&T by 28.4% during the 3rd quarter. World Investment Advisors LLC now owns 174,118 shares of the technology company’s stock valued at $3,831,000 after acquiring an additional 38,548 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its stake in shares of AT&T by 386.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 266,565 shares of the technology company’s stock valued at $5,864,000 after purchasing an additional 211,723 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on T. Scotiabank reaffirmed an “outperform” rating on shares of AT&T in a research note on Thursday. Morgan Stanley reaffirmed an “overweight” rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a research note on Thursday. TD Securities lifted their price objective on AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, April 24th. StockNews.com raised AT&T from a “hold” rating to a “buy” rating in a research note on Friday. Finally, DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $28.62.

AT&T Price Performance

AT&T stock opened at $27.25 on Tuesday. AT&T Inc. has a 12 month low of $16.73 and a 12 month high of $29.03. The stock’s 50 day moving average is $26.98 and its 200-day moving average is $24.39. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $195.61 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. AT&T’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 EPS. Equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

About AT&T

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.