Pictet Asset Management Ltd. boosted its holdings in shares of AT&T Inc. (NYSE:T) by 2.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,690,460 shares of the technology company’s stock after buying an additional 102,861 shares during the quarter. Pictet Asset Management Ltd. owned about 0.08% of AT&T worth $180,724,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. Schwab Charles Investment Management Inc. increased its position in AT&T by 4.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 22,357,627 shares of the technology company’s stock worth $928,960,000 after buying an additional 985,330 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in AT&T by 0.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,915,402 shares of the technology company’s stock worth $744,385,000 after buying an additional 143,884 shares during the last quarter. APG Asset Management N.V. increased its position in AT&T by 7.1% during the second quarter. APG Asset Management N.V. now owns 16,917,935 shares of the technology company’s stock worth $638,314,000 after buying an additional 1,117,300 shares during the last quarter. Great West Life Assurance Co. Can increased its position in AT&T by 6.4% during the second quarter. Great West Life Assurance Co. Can now owns 8,847,061 shares of the technology company’s stock worth $333,379,000 after buying an additional 532,249 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its position in AT&T by 11.0% during the first quarter. State of Wisconsin Investment Board now owns 6,051,883 shares of the technology company’s stock worth $251,456,000 after buying an additional 597,735 shares during the last quarter. 55.08% of the stock is currently owned by hedge funds and other institutional investors.
In other AT&T news, Director Matthew K. Rose acquired 29,600 shares of the business’s stock in a transaction on Wednesday, October 25th. The stock was purchased at an average price of $33.75 per share, with a total value of $999,000.00. Following the acquisition, the director now directly owns 3,100 shares of the company’s stock, valued at approximately $104,625. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.
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A number of equities research analysts have issued reports on the stock. Vetr cut shares of AT&T from a “strong-buy” rating to a “buy” rating and set a $44.24 price target for the company. in a report on Friday, October 6th. Morgan Stanley upped their price target on shares of AT&T from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday, September 27th. BidaskClub upgraded shares of AT&T from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Wednesday, October 11th. Finally, Robert W. Baird restated an “outperform” rating and set a $43.00 price target on shares of AT&T in a report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $42.87.
AT&T (NYSE:T) last posted its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). The business had revenue of $39.67 billion during the quarter, compared to the consensus estimate of $40.34 billion. AT&T had a net margin of 8.00% and a return on equity of 14.49%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date of this dividend was Friday, October 6th. AT&T’s dividend payout ratio is currently 94.69%.
AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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