Credit Agricole S A Acquires 1,169,472 Shares of AT&T Inc. $T

Credit Agricole S A boosted its position in AT&T Inc. (NYSE:T) by 69.1% during the first quarter, Holdings Channel reports. The institutional investor owned 2,861,111 shares of the technology company’s stock after purchasing an additional 1,169,472 shares during the quarter. Credit Agricole S A’s holdings in AT&T were worth $80,912,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of T. Banco Bilbao Vizcaya Argentaria S.A. increased its position in shares of AT&T by 6.4% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,325,073 shares of the technology company’s stock worth $37,474,000 after purchasing an additional 80,207 shares during the last quarter. Legacy Financial Advisors Inc. increased its position in shares of AT&T by 17.8% during the 1st quarter. Legacy Financial Advisors Inc. now owns 35,364 shares of the technology company’s stock worth $1,000,000 after purchasing an additional 5,332 shares during the last quarter. Paradigm Capital Management LLC NV increased its position in shares of AT&T by 3.3% during the 1st quarter. Paradigm Capital Management LLC NV now owns 59,502 shares of the technology company’s stock worth $1,683,000 after purchasing an additional 1,876 shares during the last quarter. Financial Advisors Network Inc. acquired a new position in shares of AT&T during the 1st quarter worth approximately $210,000. Finally, Wellington Management Group LLP increased its position in shares of 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 worth $321,372,000 after purchasing an additional 8,841,126 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 0.2%

NYSE T opened at $28.92 on Tuesday. The business has a 50 day simple moving average of $27.93 and a 200 day simple moving average of $27.27. AT&T Inc. has a one year low of $19.34 and a one year high of $29.19. The stock has a market capitalization of $206.79 billion, a P/E ratio of 16.43, a P/E/G ratio of 3.57 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The firm had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter last year, the firm posted $0.51 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. Research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T’s dividend payout ratio (DPR) is 63.07%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Williams Trading set a $30.00 target price on AT&T in a research note on Thursday, April 24th. TD Securities lifted their target price on AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, April 24th. Tigress Financial lifted their target price on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Royal Bank Of Canada boosted their price target on AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Finally, Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.21.

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.