Quintet Private Bank Europe S.A. Grows Stake in AT&T Inc. $T

Quintet Private Bank Europe S.A. lifted its stake in shares of AT&T Inc. (NYSE:T) by 103.3% in the second quarter, Holdings Channel reports. The firm owned 930,777 shares of the technology company’s stock after buying an additional 473,032 shares during the period. AT&T accounts for about 1.6% of Quintet Private Bank Europe S.A.’s investment portfolio, making the stock its 21st largest position. Quintet Private Bank Europe S.A.’s holdings in AT&T were worth $26,937,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of T. Brighton Jones LLC boosted its position in AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after acquiring an additional 10,188 shares during the last quarter. Yoffe Investment Management LLC acquired a new position in AT&T during the fourth quarter worth about $213,000. Toronto Dominion Bank boosted its position in AT&T by 15.0% during the fourth quarter. Toronto Dominion Bank now owns 4,050,292 shares of the technology company’s stock worth $92,225,000 after acquiring an additional 528,314 shares during the last quarter. Thornburg Investment Management Inc. boosted its position in AT&T by 2.4% during the fourth quarter. Thornburg Investment Management Inc. now owns 27,593,188 shares of the technology company’s stock worth $628,297,000 after acquiring an additional 652,246 shares during the last quarter. Finally, Strive Asset Management LLC acquired a new position in AT&T during the fourth quarter worth about $776,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on T. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. Sanford C. Bernstein boosted their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Raymond James Financial reiterated a “strong-buy” rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a report on Thursday, July 24th. Scotiabank boosted their target price on shares of AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a report on Friday, July 11th. Finally, Wells Fargo & Company boosted their target price on shares of AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.60.

AT&T Stock Performance

Shares of T stock opened at $29.59 on Monday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The firm’s 50 day moving average price is $28.31 and its 200-day moving average price is $27.74. The firm has a market cap of $211.58 billion, a P/E ratio of 16.81, a P/E/G ratio of 3.68 and a beta of 0.44. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the prior year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T’s dividend payout ratio is presently 63.07%.

AT&T Company 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.