AT&T Inc. $T Stock Position Raised by Meyer Handelman Co.

Meyer Handelman Co. lifted its holdings in shares of AT&T Inc. (NYSE:T) by 1.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 49,928 shares of the technology company’s stock after purchasing an additional 495 shares during the quarter. Meyer Handelman Co.’s holdings in AT&T were worth $1,445,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of T. Kingstone Capital Partners Texas LLC bought a new stake in shares of AT&T during the 2nd quarter valued at about $5,266,758,000. Nuveen LLC bought a new stake in shares of AT&T during the 1st quarter valued at about $1,072,128,000. GQG Partners LLC grew its position in shares of AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after buying an additional 17,177,874 shares during the last quarter. Ontario Teachers Pension Plan Board grew its position in shares of AT&T by 30,527.5% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after buying an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of AT&T by 350.4% during the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after buying an additional 8,841,126 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on T shares. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research note on Thursday, July 24th. Morgan Stanley boosted their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. UBS Group set a $33.00 target price on shares of AT&T in a research note on Thursday, September 18th. Finally, Sanford C. Bernstein boosted their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $30.74.

AT&T Trading Up 0.0%

Shares of NYSE:T opened at $28.31 on Friday. The company has a 50 day moving average of $28.61 and a 200-day moving average of $27.87. The firm has a market cap of $202.43 billion, a P/E ratio of 16.09, a P/E/G ratio of 3.62 and a beta of 0.44. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 EPS. As a group, analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio is currently 63.07%.

AT&T Profile

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.