O ROURKE & COMPANY Inc bought a new stake in shares of AT&T Inc. (NYSE:T – Free Report) during the third quarter, Holdings Channel.com reports. The fund bought 9,320 shares of the technology company’s stock, valued at approximately $205,000.
Several other institutional investors and hedge funds have also recently modified their holdings of T. Mercer Global Advisors Inc. ADV grew its position in shares of AT&T by 1,379.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after purchasing an additional 13,201,774 shares during the period. AQR Capital Management LLC boosted its holdings in AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after buying an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after buying an additional 5,592,123 shares during the last quarter. Thornburg Investment Management Inc. increased its stake in AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after buying an additional 4,511,725 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of AT&T during the second quarter valued at approximately $78,570,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.
AT&T Trading Up 1.4 %
Shares of AT&T stock traded up $0.30 on Thursday, reaching $22.32. The company had a trading volume of 15,583,134 shares, compared to its average volume of 35,570,148. The firm’s 50 day moving average price is $21.36 and its two-hundred day moving average price is $19.25. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a 52-week low of $15.25 and a 52-week high of $22.58. The firm has a market cap of $160.04 billion, a PE ratio of 18.09, a PEG ratio of 3.74 and a beta of 0.60.
AT&T Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.97%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.
Analysts Set New Price Targets
Several analysts recently commented on T shares. JPMorgan Chase & Co. boosted their price target on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Wells Fargo & Company cut their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Oppenheimer raised their target price on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Moffett Nathanson increased their price target on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.
About AT&T
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, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.
Recommended Stories
- Five stocks we like better than AT&T
- What is the S&P/TSX Index?
- Microsoft Can Hit New All-Time Highs This Year – Here’s Why
- The Top 3 Healthcare Dividend Stocks to Buy and Hold
- Zillow Stock’s Bull Case: Why This Recent Sell-Off Could Be a Buy
- What Investors Need to Know About Upcoming IPOs
- IonQ’s Quantum Surge: Ride the Wave or Cash Out?
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T – Free Report).
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.