StoneX Group Inc. Acquires 583 Shares of AT&T Inc. (NYSE:T)

StoneX Group Inc. raised its holdings in shares of AT&T Inc. (NYSE:T) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,059 shares of the technology company’s stock after purchasing an additional 583 shares during the quarter. StoneX Group Inc.’s holdings in AT&T were worth $2,817,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV increased its holdings in AT&T by 1,379.0% during the 2nd 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 period. AQR Capital Management LLC increased its stake in shares of AT&T by 43.3% during the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after buying an additional 6,602,586 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of AT&T by 7.4% in 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 in the last quarter. Thornburg Investment Management Inc. lifted its stake 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 worth $477,528,000 after acquiring an additional 4,511,725 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new position in AT&T during the 2nd quarter worth about $78,570,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 0.9 %

NYSE T opened at $23.18 on Friday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $23.29. The company has a fifty day simple moving average of $22.02 and a two-hundred day simple moving average of $19.94. 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 cap of $166.32 billion, a P/E ratio of 18.85, a P/E/G ratio of 3.45 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. On average, analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current 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 issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.79%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Wall Street Analyst Weigh In

Several research firms have recently commented on T. 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 report on Thursday, August 15th. Citigroup boosted their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. Wells Fargo & Company reduced their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T 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.