J. Safra Sarasin Holding AG Has $57.65 Million Position in AT&T Inc. $T

J. Safra Sarasin Holding AG boosted its holdings in AT&T Inc. (NYSE:T) by 112.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,041,568 shares of the technology company’s stock after acquiring an additional 1,079,802 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in AT&T were worth $57,654,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in T. Norges Bank bought a new position in shares of AT&T during the 2nd quarter worth approximately $2,228,655,000. Vanguard Group Inc. boosted its stake in shares of AT&T by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock valued at $19,139,620,000 after purchasing an additional 10,310,560 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of AT&T in the 2nd quarter worth about $235,422,000. State Street Corp increased its position in shares of AT&T by 2.4% during the 2nd quarter. State Street Corp now owns 321,070,509 shares of the technology company’s stock worth $9,291,781,000 after purchasing an additional 7,404,376 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in AT&T by 59.6% during the 2nd quarter. Acadian Asset Management LLC now owns 14,493,357 shares of the technology company’s stock valued at $419,403,000 after purchasing an additional 5,410,596 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

T stock opened at $23.48 on Tuesday. AT&T Inc. has a twelve month low of $23.19 and a twelve month high of $29.79. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The company has a market cap of $166.46 billion, a P/E ratio of 7.62, a price-to-earnings-growth ratio of 1.29 and a beta of 0.39. The business’s fifty day moving average is $24.58 and its 200-day moving average is $26.40.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Monday, January 12th. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. TD Cowen reaffirmed a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. Sanford C. Bernstein cut their price objective on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, January 16th. Citigroup lowered their target price on AT&T from $32.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. Wells Fargo & Company decreased their price objective on shares of AT&T from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Arete Research set a $20.00 target price on shares of AT&T in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.67.

AT&T Company Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.