Swedbank AB Purchases 219,382 Shares of AT&T Inc. (NYSE:T)

Swedbank AB lifted its position in AT&T Inc. (NYSE:T) by 7.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,299,715 shares of the technology company’s stock after purchasing an additional 219,382 shares during the quarter. Swedbank AB’s holdings in AT&T were worth $72,594,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Davidson Kempner Capital Management LP bought a new position in shares of AT&T in the second quarter worth approximately $23,888,000. Swiss National Bank lifted its stake in AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares during the last quarter. Caprock Group LLC boosted its holdings in AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after acquiring an additional 30,281 shares during the period. Talbot Financial LLC purchased a new stake in shares of AT&T during the third quarter valued at approximately $7,438,000. Finally, Mackenzie Financial Corp grew its holdings in AT&T by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after acquiring an additional 288,093 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T stock opened at $23.18 on Monday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $23.29. The stock’s 50 day simple moving average is $22.02 and its 200 day simple moving average is $19.96. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $166.32 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 3.48 and a beta of 0.59.

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

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.79%. AT&T’s payout ratio is 90.24%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on T shares. Tigress Financial upped their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Barclays upped their price objective on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Moffett Nathanson boosted their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.40.

About AT&T

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.