Forsta AP Fonden Buys 2,900 Shares of AT&T Inc. $T

Forsta AP Fonden lifted its stake in shares of AT&T Inc. (NYSE:T) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,808,700 shares of the technology company’s stock after purchasing an additional 2,900 shares during the period. Forsta AP Fonden’s holdings in AT&T were worth $52,344,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC boosted its stake in shares of AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after purchasing an additional 10,188 shares during the last quarter. Schechter Investment Advisors LLC lifted its holdings in AT&T by 31.0% in the first quarter. Schechter Investment Advisors LLC now owns 28,165 shares of the technology company’s stock valued at $797,000 after buying an additional 6,667 shares during the period. Florida Financial Advisors LLC bought a new position in AT&T in the first quarter valued at approximately $276,000. Edgestream Partners L.P. boosted its stake in AT&T by 339.6% in the first quarter. Edgestream Partners L.P. now owns 105,481 shares of the technology company’s stock valued at $2,983,000 after acquiring an additional 81,487 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its holdings in AT&T by 4.7% during the 1st quarter. Apollon Wealth Management LLC now owns 224,184 shares of the technology company’s stock worth $6,340,000 after acquiring an additional 9,977 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

NYSE T opened at $25.19 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The stock has a market cap of $178.55 billion, a price-to-earnings ratio of 8.18, a PEG ratio of 2.16 and a beta of 0.40. The business has a 50 day simple moving average of $26.97 and a 200 day simple moving average of $27.60. AT&T Inc. has a 52-week low of $21.38 and a 52-week high of $29.79.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. During the same quarter in the prior year, the company earned $0.60 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.4%. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on T shares. Wells Fargo & Company cut their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. TD Cowen increased their target price on AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Raymond James Financial restated a “strong-buy” rating and set a $33.00 target price (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Finally, Scotiabank set a $30.25 price target on shares of AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.64.

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.