E. Ohman J or Asset Management AB Has $46.43 Million Position in AT&T Inc. (NYSE:T)

E. Ohman J or Asset Management AB raised its holdings in AT&T Inc. (NYSE:T) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,110,454 shares of the technology company’s stock after buying an additional 95,086 shares during the period. AT&T accounts for about 1.1% of E. Ohman J or Asset Management AB’s portfolio, making the stock its 22nd largest holding. E. Ohman J or Asset Management AB’s holdings in AT&T were worth $46,430,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. increased its stake in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares during the last quarter. American Capital Advisory LLC grew its position in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the period. Altshuler Shaham Ltd bought a new position in shares of AT&T in the 2nd quarter valued at about $30,000. Marquette Asset Management LLC bought a new position in shares of AT&T in the 3rd quarter valued at about $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,192 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Citigroup lifted their price objective on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, TD Cowen lifted their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Price Performance

Shares of NYSE:T opened at $22.19 on Friday. The firm has a 50 day moving average of $21.09 and a 200-day moving average of $19.06. The stock has a market capitalization of $159.11 billion, a PE ratio of 12.75, a PEG ratio of 3.67 and a beta of 0.60. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12 month low of $14.74 and a 12 month high of $22.58.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 EPS. On average, equities research analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is presently 63.79%.

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.