Te Ahumairangi Investment Management Ltd Has $13.54 Million Stock Position in AT&T Inc. (NYSE:T)

Te Ahumairangi Investment Management Ltd reduced its position in shares of AT&T Inc. (NYSE:T) by 1.6% in the third quarter, Holdings Channel reports. The fund owned 619,079 shares of the technology company’s stock after selling 9,919 shares during the quarter. AT&T makes up about 2.4% of Te Ahumairangi Investment Management Ltd’s portfolio, making the stock its 6th biggest position. Te Ahumairangi Investment Management Ltd’s holdings in AT&T were worth $13,543,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after acquiring an additional 3,630,972 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in AT&T by 7.4% during the 2nd 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 buying an additional 5,592,123 shares during the period. FMR LLC raised its holdings in AT&T by 1.9% during the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after buying an additional 1,149,688 shares during the period. Legal & General Group Plc raised its holdings in AT&T by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after buying an additional 1,569,374 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in AT&T by 2.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after buying an additional 1,007,228 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

Shares of AT&T stock opened at $23.48 on Thursday. The firm has a market cap of $168.48 billion, a P/E ratio of 19.09, a P/E/G ratio of 3.63 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The stock’s fifty day moving average price is $22.44 and its 200-day moving average price is $20.49.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts expect that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.73%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio is presently 90.24%.

Analysts Set New Price Targets

Several research firms recently weighed in on T. Sanford C. Bernstein began coverage on AT&T in a report on Tuesday. They set an “outperform” rating and a $28.00 price target on the stock. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. Wells Fargo & Company decreased their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Citigroup increased their price target on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Moffett Nathanson increased their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average price target of $25.00.

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.