Nordea Investment Management AB Increases Position in AT&T Inc. $T

Nordea Investment Management AB lifted its holdings in AT&T Inc. (NYSE:T) by 3.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 5,733,014 shares of the technology company’s stock after acquiring an additional 210,087 shares during the quarter. Nordea Investment Management AB’s holdings in AT&T were worth $163,764,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. David J Yvars Group boosted its stake in shares of AT&T by 2.8% in the 2nd quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock worth $402,000 after buying an additional 372 shares during the last quarter. AllSquare Wealth Management LLC boosted its stake in shares of AT&T by 7.1% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock worth $161,000 after buying an additional 378 shares during the last quarter. Barnes Wealth Management Group Inc raised its holdings in shares of AT&T by 2.6% in the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock worth $425,000 after purchasing an additional 380 shares during the period. Kathmere Capital Management LLC raised its holdings in shares of AT&T by 0.8% in the 2nd quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company’s stock worth $1,470,000 after purchasing an additional 381 shares during the period. Finally, James J. Burns & Company LLC raised its holdings in shares of AT&T by 1.0% in the 2nd quarter. James J. Burns & Company LLC now owns 40,362 shares of the technology company’s stock worth $1,168,000 after purchasing an additional 383 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on T shares. Wells Fargo & Company lowered their price target on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday. Morgan Stanley lifted their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 price target (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $30.00 price target on shares of AT&T in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $30.65.

AT&T Trading Up 0.5%

Shares of T stock opened at $26.33 on Friday. The company’s fifty day simple moving average is $28.27 and its two-hundred day simple moving average is $27.81. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The stock has a market capitalization of $188.24 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 2.12 and a beta of 0.42.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter in the previous year, the firm posted $0.51 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.2%. AT&T’s payout ratio is presently 63.07%.

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.