DekaBank Deutsche Girozentrale Decreases Stock Holdings in AT&T Inc. $T

DekaBank Deutsche Girozentrale lowered its position in shares of AT&T Inc. (NYSE:T) by 0.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,390,279 shares of the technology company’s stock after selling 12,142 shares during the period. DekaBank Deutsche Girozentrale’s holdings in AT&T were worth $67,202,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC bought a new position in shares of AT&T during the second quarter valued at approximately $5,266,758,000. Nuveen LLC purchased a new stake in AT&T during the 1st quarter valued at $1,072,128,000. GQG Partners LLC lifted its holdings in shares of AT&T by 17.7% during 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 buying an additional 17,177,874 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in shares of AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after buying an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after buying an additional 8,841,126 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

Shares of NYSE T opened at $26.01 on Wednesday. The stock has a market cap of $185.98 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 2.12 and a beta of 0.42. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The firm has a fifty day moving average price of $28.18 and a 200-day moving average price of $27.78. 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 issued 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 company had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the prior year, the firm posted $0.51 EPS. AT&T’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. AT&T’s dividend payout ratio is 63.07%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on T shares. Scotiabank set a $30.25 price objective on AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. Sanford C. Bernstein boosted their price target on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Barclays reissued an “equal weight” rating and issued a $30.00 price objective on shares of AT&T in a report on Wednesday, October 1st. Finally, The Goldman Sachs Group started coverage on shares of AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.65.

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.