AT&T Inc. $T Holdings Boosted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of AT&T Inc. (NYSE:T) by 1.4% in the 3rd quarter, Holdings Channel reports. The firm owned 18,133,054 shares of the technology company’s stock after acquiring an additional 248,567 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in AT&T were worth $512,077,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. J. L. Bainbridge & Co. Inc. grew its position in shares of AT&T by 1.7% during the second quarter. J. L. Bainbridge & Co. Inc. now owns 21,253 shares of the technology company’s stock worth $615,000 after acquiring an additional 355 shares during the last quarter. Financial & Tax Architects LLC increased its stake in shares of AT&T by 4.9% in the second quarter. Financial & Tax Architects LLC now owns 7,588 shares of the technology company’s stock valued at $220,000 after purchasing an additional 356 shares during the period. Roberts Glore & Co. Inc. IL raised its holdings in shares of AT&T by 2.0% during the second quarter. Roberts Glore & Co. Inc. IL now owns 18,386 shares of the technology company’s stock valued at $532,000 after buying an additional 357 shares during the last quarter. Investment Partners LTD. boosted its position in shares of AT&T by 3.5% during the second quarter. Investment Partners LTD. now owns 10,464 shares of the technology company’s stock worth $303,000 after buying an additional 357 shares during the period. Finally, Parcion Private Wealth LLC grew its holdings in AT&T by 2.5% in the 2nd quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock worth $431,000 after buying an additional 364 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on T shares. Weiss Ratings restated a “buy (b-)” rating on shares of AT&T in a research note on Monday, December 29th. Arete downgraded AT&T from a “neutral” rating to a “sell” rating and set a $20.00 price objective on the stock. in a research note on Tuesday, January 6th. Cowen reaffirmed a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. Barclays lowered their target price on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. Finally, Royal Bank Of Canada reduced their price objective on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $29.42.

AT&T Trading Down 0.7%

Shares of NYSE:T opened at $24.00 on Monday. The firm has a fifty day moving average of $24.91 and a two-hundred day moving average of $26.76. 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 Inc. has a 12-month low of $21.38 and a 12-month high of $29.79. The firm has a market capitalization of $170.11 billion, a P/E ratio of 7.79, a price-to-earnings-growth ratio of 1.31 and a beta of 0.39.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) 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 business had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. During the same period last year, the company earned $0.60 earnings per share. AT&T’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Monday, January 12th. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

About AT&T

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.