Commerce Bank Raises Position in AT&T Inc. (NYSE:T)

Commerce Bank grew its position in shares of AT&T Inc. (NYSE:T) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 440,927 shares of the technology company’s stock after buying an additional 3,921 shares during the quarter. Commerce Bank’s holdings in AT&T were worth $9,700,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV boosted its holdings in AT&T by 1,379.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after purchasing an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after acquiring an additional 6,602,586 shares during the period. Bank of New York Mellon Corp increased its position in AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after acquiring an additional 5,592,123 shares during the last quarter. Thornburg Investment Management Inc. lifted its holdings in AT&T by 22.0% in the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after acquiring an additional 4,511,725 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new position in AT&T in the second quarter worth about $78,570,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on T shares. Oppenheimer upped their price target on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Evercore ISI upped their target price on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Barclays lifted their price target on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a research note on Thursday, October 24th. Finally, Wells Fargo & Company lowered their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Stock Up 0.9 %

T opened at $23.03 on Friday. The company has a market capitalization of $165.21 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 3.41 and a beta of 0.59. The firm has a 50-day simple moving average of $21.99 and a two-hundred day simple moving average of $19.88. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $23.20.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. Analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.