Baird Financial Group Inc. increased its holdings in shares of AT&T Inc. (NYSE:T – Get Rating) by 55.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,042,311 shares of the technology company’s stock after purchasing an additional 725,364 shares during the period. Baird Financial Group Inc.’s holdings in AT&T were worth $31,329,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of AT&T by 0.7% in the third quarter. Vanguard Group Inc. now owns 600,524,205 shares of the technology company’s stock valued at $9,212,041,000 after purchasing an additional 3,894,916 shares in the last quarter. State Street Corp lifted its holdings in shares of AT&T by 1.6% in the third quarter. State Street Corp now owns 280,895,582 shares of the technology company’s stock valued at $4,308,938,000 after purchasing an additional 4,430,454 shares in the last quarter. Newport Trust Co lifted its holdings in shares of AT&T by 0.9% in the second quarter. Newport Trust Co now owns 199,277,658 shares of the technology company’s stock valued at $4,176,860,000 after purchasing an additional 1,851,506 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of AT&T by 1.3% in the second quarter. Northern Trust Corp now owns 76,189,792 shares of the technology company’s stock valued at $1,596,938,000 after purchasing an additional 950,450 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of AT&T by 4.8% in the second quarter. Legal & General Group Plc now owns 52,838,773 shares of the technology company’s stock valued at $1,107,506,000 after purchasing an additional 2,402,764 shares in the last quarter. Institutional investors and hedge funds own 51.86% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, December 8th. Raymond James lifted their price target on AT&T from $24.00 to $25.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 26th. Morgan Stanley lowered AT&T from an “overweight” rating to an “equal weight” rating and set a $20.00 price target on the stock. in a report on Thursday, December 15th. Cowen lifted their price target on AT&T from $24.00 to $25.00 in a report on Thursday, January 26th. Finally, TheStreet lowered AT&T from a “b” rating to a “c” rating in a report on Wednesday, January 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.00.
AT&T Stock Up 0.8 %
NYSE:T opened at $18.44 on Wednesday. AT&T Inc. has a 1 year low of $14.46 and a 1 year high of $21.53. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.59 and a quick ratio of 0.53. The business has a fifty day simple moving average of $19.26 and a two-hundred day simple moving average of $18.18.
AT&T (NYSE:T – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The technology company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.03. The company had revenue of $31.30 billion during the quarter, compared to analysts’ expectations of $31.50 billion. AT&T had a positive return on equity of 14.18% and a negative net margin of 6.60%. The firm’s quarterly revenue was down 23.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 earnings per share. On average, analysts anticipate that AT&T Inc. will post 2.42 earnings per share for the current year.
AT&T Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.02%. The ex-dividend date was Monday, January 9th. AT&T’s dividend payout ratio (DPR) is presently -93.28%.
AT&T Profile
AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the Communications and Latin America segments. The Communications segment offers services to businesses and consumers located in the U.S., or in U.S. territories, and businesses globally.
See Also
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T – Get Rating).
Receive News & Ratings for AT&T Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for AT&T and related companies with MarketBeat.com’s FREE daily email newsletter.
