New York Life Investment Management LLC Grows Stock Position in AT&T Inc. $T

New York Life Investment Management LLC increased its holdings in AT&T Inc. (NYSE:T) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 978,732 shares of the technology company’s stock after buying an additional 18,535 shares during the period. New York Life Investment Management LLC’s holdings in AT&T were worth $28,325,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in T. Kingstone Capital Partners Texas LLC purchased a new stake in shares of AT&T in the 2nd quarter worth about $5,266,758,000. Nuveen LLC purchased a new stake in shares of AT&T in the 1st quarter worth about $1,072,128,000. GQG Partners LLC boosted its position in shares of AT&T by 17.7% in the 1st 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 in the last quarter. Ontario Teachers Pension Plan Board raised its stake in AT&T by 30,527.5% in 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 purchasing an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in AT&T by 350.4% in 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 purchasing an additional 8,841,126 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

T has been the subject of several analyst reports. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Royal Bank Of Canada cut their target price on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. 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. Finally, TD Cowen boosted their target price on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.67.

AT&T Stock Up 1.4%

T opened at $25.50 on Tuesday. The firm has a 50 day moving average price of $27.90 and a 200 day moving average price of $27.76. The company has a market cap of $182.35 billion, a PE ratio of 8.28, a price-to-earnings-growth ratio of 2.03 and a beta of 0.42. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. The firm had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. Sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.4%. AT&T’s dividend payout ratio is 36.04%.

AT&T Company 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.