IFM Investors Pty Ltd Increases Stock Position in AT&T Inc. (NYSE:T)

IFM Investors Pty Ltd lifted its stake in AT&T Inc. (NYSE:T) by 11.8% in the 3rd quarter, Holdings reports. The firm owned 592,908 shares of the technology company’s stock after buying an additional 62,390 shares during the quarter. AT&T makes up 0.7% of IFM Investors Pty Ltd’s holdings, making the stock its 27th largest holding. 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 institutional investors and hedge funds also recently bought and sold shares of T. Nordea Investment Management AB grew its stake in shares of AT&T by 102.9% during the 2nd quarter. Nordea Investment Management AB now owns 50,589,222 shares of the technology company’s stock valued at $1,504,524,000 after purchasing an additional 25,658,276 shares during the period. Advisor Group Holdings Inc. bought a new position in shares of AT&T during the 1st quarter valued at approximately $138,850,000. Laidlaw Wealth Management LLC grew its stake in shares of AT&T by 6,014.1% during the 2nd quarter. Laidlaw Wealth Management LLC now owns 4,833,192 shares of the technology company’s stock valued at $160,000 after acquiring an additional 4,754,142 shares during the period. LSV Asset Management grew its stake in shares of AT&T by 14.8% during the 2nd quarter. LSV Asset Management now owns 27,901,266 shares of the technology company’s stock valued at $843,455,000 after acquiring an additional 3,606,476 shares during the period. Finally, Two Sigma Advisers LP grew its stake in shares of AT&T by 192.3% during the 2nd quarter. Two Sigma Advisers LP now owns 5,411,631 shares of the technology company’s stock valued at $163,594,000 after acquiring an additional 3,560,031 shares during the period. 52.29% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently commented on the company. Scotiabank cut AT&T from a “sector perform” rating to a “sector underperform” rating and lowered their price target for the stock from $34.00 to $30.00 in a report on Monday, August 31st. Royal Bank of Canada increased their price target on AT&T from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Morgan Stanley decreased their price target on AT&T from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Barclays assumed coverage on AT&T in a report on Friday, October 2nd. They set an “overweight” rating on the stock. Finally, Oppenheimer restated a “buy” rating and set a $38.00 price target on shares of AT&T in a report on Thursday, October 1st. Six analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $33.56.

In other news, Director Stephen J. Luczo acquired 100,000 shares of AT&T stock in a transaction dated Thursday, July 23rd. The stock was purchased at an average cost of $29.69 per share, for a total transaction of $2,969,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.07% of the company’s stock.

T stock traded down $0.12 during trading on Friday, reaching $27.33. 29,326,146 shares of the company traded hands, compared to its average volume of 39,136,250. AT&T Inc. has a 12 month low of $26.08 and a 12 month high of $39.70. The business has a 50 day simple moving average of $28.84 and a 200 day simple moving average of $29.74. The company has a market capitalization of $194.73 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.64 and a beta of 0.69. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 0.81.

AT&T (NYSE:T) last released its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. AT&T had a return on equity of 13.03% and a net margin of 6.84%. The company had revenue of $40.95 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same period last year, the business posted $0.89 earnings per share. The firm’s revenue was down 8.9% compared to the same quarter last year. As a group, research analysts forecast that AT&T Inc. will post 3.21 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 7.61%. The ex-dividend date of this dividend is Thursday, October 8th. AT&T’s payout ratio is 58.26%.

About AT&T

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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Institutional Ownership by Quarter for AT&T (NYSE:T)

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