Sumitomo Mitsui DS Asset Management Company Ltd Purchases 34,523 Shares of AT&T Inc. $T

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of AT&T Inc. (NYSE:T) by 3.6% during the third quarter, HoldingsChannel reports. The fund owned 1,000,753 shares of the technology company’s stock after acquiring an additional 34,523 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in AT&T were worth $28,261,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of T. Front Row Advisors LLC purchased a new position in shares of AT&T in the 2nd quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of AT&T during the second quarter valued at about $26,000. Kennebec Savings Bank boosted its holdings in shares of AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares in the last quarter. Solstein Capital LLC grew its position in shares of AT&T by 217.3% in the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after buying an additional 652 shares during the last quarter. Finally, Curio Wealth LLC raised its stake in shares of AT&T by 26,100.0% during the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after acquiring an additional 1,044 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

AT&T stock opened at $24.00 on Friday. The company has a fifty day simple moving average of $24.91 and a 200-day simple moving average of $26.78. The firm has a market capitalization of $170.11 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 1.29 and a beta of 0.39. 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 52-week low of $21.38 and a 52-week high of $29.79.

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, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. AT&T’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. On average, equities analysts anticipate 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 dividend on an annualized basis and a dividend 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%.

Analyst Ratings Changes

T has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. UBS Group reaffirmed a “buy” rating on shares of AT&T in a report on Thursday, October 23rd. Williams Trading set a $33.00 price target on shares of AT&T in a research report on Thursday, October 23rd. Raymond James Financial restated a “strong-buy” rating and set a $33.00 price objective (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Finally, Barclays decreased their price target 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 analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.42.

AT&T Profile

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.