Aberdeen Group plc Buys 285,690 Shares of AT&T Inc. $T

Aberdeen Group plc increased its stake in shares of AT&T Inc. (NYSE:T) by 4.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,089,222 shares of the technology company’s stock after acquiring an additional 285,690 shares during the period. Aberdeen Group plc’s holdings in AT&T were worth $173,878,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a research report on Wednesday. Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research report on Thursday, July 24th. Scotiabank set a $30.25 target price on AT&T and gave the company a “sector perform” rating in a research report on Monday. Finally, Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

AT&T Trading Down 1.0%

Shares of NYSE:T opened at $25.85 on Friday. The company has a market capitalization of $184.82 billion, a P/E ratio of 14.69, a P/E/G ratio of 2.12 and a beta of 0.42. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The business’s 50 day simple moving average is $28.45 and its 200 day simple moving average is $27.88.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. AT&T’s dividend payout ratio is currently 63.07%.

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.