IFM Investors Pty Ltd lifted its position in AT&T Inc. (NYSE:T) by 11.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 592,908 shares of the technology company’s stock after acquiring an additional 62,390 shares during the quarter. AT&T makes up approximately 0.7% of IFM Investors Pty Ltd’s portfolio, making the stock its 27th largest position. IFM Investors Pty Ltd’s holdings in AT&T were worth $16,904,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Command Bank grew its position in AT&T by 94.7% during the second quarter. First Command Bank now owns 136,968 shares of the technology company’s stock valued at $4,141,000 after buying an additional 66,629 shares during the period. AXA grew its position in AT&T by 27.9% during the first quarter. AXA now owns 3,527,087 shares of the technology company’s stock valued at $102,814,000 after buying an additional 770,426 shares during the period. Kwmg LLC grew its position in AT&T by 6.9% during the second quarter. Kwmg LLC now owns 83,935 shares of the technology company’s stock valued at $2,537,000 after buying an additional 5,439 shares during the period. City Holding Co. grew its position in AT&T by 3.3% during the second quarter. City Holding Co. now owns 154,335 shares of the technology company’s stock valued at $4,664,000 after buying an additional 4,975 shares during the period. Finally, Balyasny Asset Management LLC bought a new position in AT&T during the second quarter valued at about $2,082,000. Hedge funds and other institutional investors own 52.29% of the company’s stock.
Several equities analysts recently weighed in on the stock. Royal Bank of Canada increased their price target on shares of AT&T from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Oppenheimer restated a “buy” rating and set a $38.00 price target on shares of AT&T in a research report on Thursday, October 1st. Scotiabank lowered shares of AT&T from a “sector perform” rating to a “sector underperform” rating and reduced their price target for the company from $34.00 to $30.00 in a research report on Monday, August 31st. Deutsche Bank Aktiengesellschaft cut their target price on shares of AT&T from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Finally, Bank of America reiterated a “buy” rating and set a $36.00 target price on shares of AT&T in a research report on Friday, July 24th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $33.56.
AT&T (NYSE:T) last announced its earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. The business had revenue of $40.95 billion for the quarter, compared to the consensus estimate of $40.87 billion. AT&T had a net margin of 6.84% and a return on equity of 13.03%. AT&T’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period last year, the firm posted $0.89 earnings per share. On average, equities analysts anticipate that AT&T Inc. will post 3.21 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 12th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 7.61%. The ex-dividend date of this dividend is Thursday, October 8th. AT&T’s dividend payout ratio is currently 58.26%.
In related news, Director Stephen J. Luczo bought 100,000 shares of the stock in a transaction that occurred on Thursday, July 23rd. The shares were acquired at an average cost of $29.69 per share, with a total value of $2,969,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.07% of the company’s stock.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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