Mirae Asset Global Investments Co. Ltd. Lowers Stock Position in AT&T Inc. (NYSE:T)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of AT&T Inc. (NYSE:T) by 17.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,475,037 shares of the technology company’s stock after selling 305,480 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in AT&T were worth $23,529,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of T. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of AT&T by 102,614.5% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 823,706,558 shares of the technology company’s stock valued at $13,138,120,000 after purchasing an additional 822,904,620 shares during the period. Moneta Group Investment Advisors LLC lifted its position in shares of AT&T by 85,003.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock valued at $1,414,568,000 after acquiring an additional 76,746,649 shares during the period. Norges Bank acquired a new stake in shares of AT&T in the 4th quarter worth approximately $1,229,499,000. Morgan Stanley grew its holdings in shares of AT&T by 37.3% in the 4th quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock worth $2,018,462,000 after acquiring an additional 29,769,976 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in AT&T by 328.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 15,569,212 shares of the technology company’s stock worth $299,707,000 after purchasing an additional 11,932,735 shares during the last quarter. 53.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on T shares. Scotiabank raised shares of AT&T from a “sector perform” rating to a “sector outperform” rating and set a $18.50 price objective on the stock in a research note on Friday, October 20th. Royal Bank of Canada lifted their price objective on AT&T from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th. StockNews.com started coverage on AT&T in a report on Thursday, October 5th. They set a “hold” rating on the stock. Morgan Stanley reduced their price objective on AT&T from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, October 23rd. Finally, JPMorgan Chase & Co. cut their target price on shares of AT&T from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, October 12th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $20.90.

AT&T Stock Up 1.3 %

Shares of AT&T stock opened at $16.11 on Tuesday. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $20.50. The stock has a market cap of $115.15 billion, a price-to-earnings ratio of -10.46, a price-to-earnings-growth ratio of 1.94 and a beta of 0.60. The company has a current ratio of 0.69, a quick ratio of 0.64 and a debt-to-equity ratio of 1.08. The company has a fifty day moving average price of $15.16 and a 200 day moving average price of $15.22.

AT&T (NYSE:T) last issued its earnings results on Thursday, October 19th. The technology company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. AT&T had a positive return on equity of 16.26% and a negative net margin of 9.29%. The company had revenue of $30.35 billion during the quarter, compared to the consensus estimate of $30.25 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. Equities research analysts forecast that AT&T Inc. will post 2.44 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.89%. The ex-dividend date of this dividend was Friday, October 6th. AT&T’s dividend payout ratio (DPR) is -72.08%.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.