AT&T Inc. $T Shares Bought by Sumitomo Mitsui Trust Group Inc.

by · The Markets Daily

Sumitomo Mitsui Trust Group Inc. grew its stake in AT&T Inc. (NYSE:T – Free Report) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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. owned about 0.25% of AT&T worth $512,077,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in T. Vanguard Group Inc. grew its holdings in shares of AT&T by 1.6% during the second quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock worth $19,139,620,000 after buying an additional 10,310,560 shares in the last quarter. State Street Corp boosted its position in AT&T by 2.4% during the second quarter. State Street Corp now owns 321,070,509 shares of the technology company’s stock worth $9,291,781,000 after acquiring an additional 7,404,376 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in AT&T in the 2nd quarter worth approximately $5,266,758,000. Geode Capital Management LLC raised its holdings in AT&T by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 172,039,872 shares of the technology company’s stock valued at $4,958,066,000 after acquiring an additional 2,066,026 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of AT&T during the second quarter worth $2,228,655,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on T shares. Wells Fargo & Company cut their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Arete cut shares of AT&T from a “neutral” rating to a “sell” rating and set a $20.00 price objective for the company. in a research note on Tuesday, January 6th. KeyCorp upgraded AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a report on Tuesday, November 11th. Citigroup reduced their target price on AT&T from $32.00 to $29.00 and set a “buy” rating on the stock in a report on Monday, December 22nd. Finally, Wall Street Zen downgraded AT&T from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One investment 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.42.

Check Out Our Latest Report on AT&T

AT&T Stock Performance

NYSE:T opened at $24.00 on Monday. The firm has a 50-day moving average of $24.91 and a two-hundred day moving average of $26.76. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The stock has a market cap of $170.11 billion, a P/E ratio of 7.79, a PEG ratio of 1.31 and a beta of 0.39. AT&T Inc. has a 1-year low of $21.38 and a 1-year high of $29.79.

AT&T (NYSE:T – Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. On average, research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Monday, January 12th. AT&T’s dividend payout ratio is 36.04%.

About AT&T

(Free Report)

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.

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