42,073 Shares in AT&T Inc. $T Acquired by Syverson Strege & Co

Syverson Strege & Co acquired a new stake in AT&T Inc. (NYSE:T) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 42,073 shares of the technology company’s stock, valued at approximately $1,218,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of T. Kingstone Capital Partners Texas LLC purchased a new position in shares of AT&T in the second quarter valued at $5,266,758,000. Nuveen LLC purchased a new stake in shares of AT&T in the 1st quarter worth about $1,072,128,000. GQG Partners LLC grew its stake in AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after acquiring an additional 17,177,874 shares during the last quarter. Ontario Teachers Pension Plan Board increased its holdings in AT&T by 30,527.5% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after acquiring an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in AT&T by 350.4% during the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after acquiring an additional 8,841,126 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays reduced their price target on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Bank of America assumed coverage on AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 target price on the stock. Williams Trading set a $33.00 price target on AT&T in a research report on Thursday, October 23rd. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $33.00 price objective (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.67.

AT&T Price Performance

Shares of NYSE:T opened at $24.76 on Friday. The company has a market cap of $177.01 billion, a P/E ratio of 8.04, a P/E/G ratio of 2.16 and a beta of 0.42. The business has a fifty day simple moving average of $27.57 and a 200-day simple moving average of $27.70. AT&T Inc. has a 52 week low of $21.38 and a 52 week 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.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. During the same period in the prior year, the business posted $0.60 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid 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 4.5%. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

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.