43,796 Shares in AT&T Inc. $T Acquired by GAM Holding AG

GAM Holding AG acquired a new position in shares of AT&T Inc. (NYSE:T) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 43,796 shares of the technology company’s stock, valued at approximately $1,267,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Kingstone Capital Partners Texas LLC acquired a new stake in AT&T during the 2nd quarter worth about $5,266,758,000. Nuveen LLC acquired a new stake in AT&T during the 1st quarter worth about $1,072,128,000. GQG Partners LLC lifted its holdings in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares during the period. Ontario Teachers Pension Plan Board lifted its holdings in shares of AT&T by 30,527.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after purchasing an additional 11,920,392 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of AT&T by 350.4% during the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after purchasing an additional 8,841,126 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Up 0.3%

Shares of AT&T stock opened at $24.76 on Friday. The firm has a 50-day simple moving average of $27.57 and a two-hundred day simple moving average of $27.70. The company has a market cap of $177.01 billion, a P/E ratio of 8.04, a price-to-earnings-growth ratio of 2.16 and a beta of 0.42. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01.

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

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio is presently 36.04%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on T. Citigroup reaffirmed a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Morgan Stanley boosted their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Finally, Barclays decreased their price objective on AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

About AT&T

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.